Global Artificial Intelligence in Retail Market 2019: Solution Providers and Innovators Helping Retailers Keep up With Amazon

DUBLIN, Nov. 1, 2019 /PRNewswire/ -- The "Global Artificial Intelligence in Retail - Use Cases and Transformational Impact, 2019" report has been added to ResearchAndMarkets.com's offering.

This research service provides an original perspective on how artificial intelligence (AI) is making its way into the retail sector. Retail has entered a new era where eCommerce and technology bellwethers like Alibaba, Amazon, Apple, Baidu, Facebook, Google, Microsoft, and Tencent have raised consumers' expectations. AI is enabling automated decision-making with accuracy and speed, based on data analytics, coupled with self-learning abilities. It has passed a critical usefulness threshold but is also overhyped.

AI depends on other technologies such as the Internet of Things (IoT) to provide it with quality data to be able to address specific use cases of which there is a constantly growing number across industries and value chains, from customer-facing through core operational processes to the back-office. The need for this linkage highlights the importance of a carefully planned digital transformation strategy wherein deployment takes into account dependencies between technologies.

At the same time, growing fondness of retailers to experiment with, and take into production, emerging technologies for personalisation, human-machine interaction, automation and friction reduction, support greater efficiency and the delivery of better user experiences. As online and offline converge to become simply parts of the shopping experience, analytics identify and propose products to the needs and tastes of individual shoppers or shopper-captured images. Personalisation of offers and prices aspire to become real time in physical environments as well.

Chatbots and social robots are becoming increasingly common to provide advice and support, while AI will increasingly pervade every business process and function across the retail value chain. The frequent last-touch experience of the shopper with AI will be frictionless checkout (unless there is subsequent need to turn back to customer service chatbots).

Data remains the new oil' that is the indispensable foundation for AI to work while the tension with privacy increases. Merchants and other ecosystem players' fight for the customer interface is not just a fight for sales and margins. It is just as much as fight for the ability to collect data.

Data will determine the medium-term ability of a merchant to deliver a positive customer experience based on the merchant's AI being able to make accurate predictions about offering the right product or service, at the right price, the right time and in the right way to the right customers. This research service takes retailers and other readers on an exploratory journey through AI-related changes in the retail environment to provide orientation in this fast-evolving environment.

Key Topics Covered:

Executive Summary

• Key Findings

Research Scope and Methodology

• Research Aim and Scope
• Research Methodology
• Key Questions this Study will Answer

Technology Status, Trends, and Business Models - Artificial Intelligence: Foundations

• Overview of AI
• Which AI Sub-Technologies are Gearing up?
• The Science and Engineering Behind AI
• AI Value Chain
• Ecosystem Development - From Data to Self-learning Systems, the Next Frontier
• Pervasive AI Applications
• AI Applications that Span Industries and Functions
• Spectrum of AI Systems
• AI Innovation Hot Spots
• AI - Key Challenges

Technology Status, Trends, and Business Models - Retail End-User Perspective

• Business Objectives in the Retail Industry
• Top IT Drivers of Digital Retail
• Emerging Technology Deployment in the Retail Sector
• Stage of Emerging Technology Deployment in the Retail Sector
• Top Reasons Why Retailers Invest in AI
• Top Concerns for Retailers with Regards to AI

Transformational Applications of AI in Retail

• AI-Driven Integrated Commerce Framework

Discovery, Social and Visual Commerce

• Pinterest - A Place for Inspiration and Discovery
• Solution Providers and Innovators Turning Retail Upside

Perfect Personalisation and Experiential Commerce

• Dynamic Yield - Making Every Customer a VIP
• Solution Providers and Innovators Making Every Customers a Segment of One (VIP)

Non-human Agents

• Pepper Robot - Robots Blending in With People
• Solution Providers and Innovators Giving Customers Non-human Interlocutors

Next-Gen Retail Planning, Logistics and Operations

• Ocado - Digital Grocer Transforming Warehousing
• Solution Providers and Innovators Upgrading the Retail Engine Room' Next-Gen Retail Planning and Operations

Ambient and Frictionless Commerce

• Amazon's Checkout-free Go Store - Starting Signal for the Checkout-free Shopping Race
• Solution Providers and Innovators Helping Retailers Keep up With Amazon

Growth Opportunity

• Growth Opportunity 1 - Automation
• Growth Opportunity 2 - Prediction and Prescription
• Growth Opportunity 3 - Personalisation
• Strategic Imperatives for Success and Growth
• 5 Companies to Watch

The Last Word

Companies Mentioned

• Alibaba
• Amazon
• Apple
• Baidu
• Facebook
• Google
• Microsoft
• Tencent

For more information about this report visit https://www.researchandmarkets.com/r/jdtg6n

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