Retail AI/ML – When and Where
When it comes to the deployment of Artificial Intelligence and Machine Learning in retail and hospitality, the question is not if they are doing it, but where and how fast they are adopting the technology. Now a couple of things. First, as we shared in our free white paper AI/ML Promises and Pitfalls deploying AI/ML where you do not have clean data is a waste of time and money. 80% of any project is getting the data correct. But we also believe that the next batch of retailers to race away from the competition are going to be the ones that are first to being able to apply AI/ML to inventory accuracy issues at the store level. So right now the race is to getting clean data in this area through RFID and Computer Vision technologies.
So where are retailers using AI/ML today and how fast are they adopting? We asked in our latest Study with RIS News. This chart highlights those answers. The chart below is part of the free version of the study which can be found here. If you would like the detailed data by segment, by companies winning and losing, we invite you to check out our more detailed study.
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