Every step of the retail process has the ability to be automated by AI. From customer acquisition using reliable data to catalogue and inventory management to post-purchase experience – AI impacts retail in a holistic end-to-end manner.
For instance, Artificial Intelligence can help retailers create data models to glean insights and in turn build prescriptive or predictive decision engines. This can help with demand forecasting allowing them to make better data-driven decisions.
AI in retail and e-commerce can also be used to structure and transform data from a semi-structured or an unstructured format to the one used by the marketplace. Algorithms can be used to identify and transform attributes from tables of data or even paragraphs of text
Let’s look at a few use cases of Artificial Intelligence in Retail and E-commerce in the infographic below.
