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AI in retail is no more a luxury, but a necessity

AI in retail is no more a luxury, but a necessity
The Siliconreview
26 October, 2021

AI has managed to fully embrace the responsibilities of a retail segment, from giving virtual recommendations to dealing with theft and prevention

In the digital world we live in, the use of AI is not really a new trend, but we must know that since, for a long time, it was accessible only for companies that had huge capital. It is very common in the tech space to deal with additional costs when the technology evolves. This is mainly due to the fact that it becomes more accessible to the masses. Right now, this is happening to the retail segment as more consumers are shopping online, and it is the right time for SMEs to use AI in retail and ecommerce. Retailers are making use of AI to fuel decisions in regards to customer sales and inventory.

AI has managed to fully embrace the responsibilities of a retail segment, from giving virtual recommendations to dealing with theft and prevention. Retail is highly volatile, and AI can give the segment an edge when it comes to reducing inefficiency and responding to customers. In most cases, AI in retail tends to focus on data that is already owned by the retailer but not fully explored. It is highly impossible for humans to understand what the data is trying to reveal manually, but AI can do that autonomously.