Global Retail Artificial Intelligence (AI) Growth Opportunities

Global Retail Artificial Intelligence (AI) Growth Opportunities

AI Solutions will Drive the Future Growth Potential of the Retail Space for Technology Providers

RELEASE DATE
11-Apr-2022
REGION
Global
Research Code: PD10-01-00-00-00
SKU: IT04497-GL-MR_26418
$2,450.00
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SKU
IT04497-GL-MR_26418
$2,450.00

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Description

In this research service, Frost & Sullivan examines the pivotal role of artificial intelligence (AI) in the retail sector. The study will help retailers understand the key trends in the evolving retail AI marketplace as they consider investing in cognitive capabilities. Frost & Sullivan offers insights for stakeholders by identifying AI growth drivers that will facilitate the deployment of AI-based solutions in the retail sector. The research service also examines retailers' growing focus on improving the customer experience through an omnichannel approach (using AI-powered branding and marketing solutions) and enhancing online search and discovery to target potential customers. In addition, the ravages of the ongoing COVID-19 pandemic, technological advancements, and evolving consumer demands are paving the way for the widespread adoption of retail AI technologies, especially in the eCommerce retail segment. This study also offers direction to technology vendors in terms of charting their strategic priorities and building new capabilities to capitalize on the emerging growth opportunities in the retail AI spac

RESEARCH: INFOGRAPHIC

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Table of Contents

Why is it Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Impact of the Top Three Strategic Imperatives on the Retail Artificial Intelligence Industry

Growth Opportunities Fuel the Growth Pipeline Engine™

AI Deployment Among Retail Firms

Purpose for Implementing AI Solutions

Growth Drivers

The COVID-19 Pandemic will Drive AI Adoption in eCommerce Platforms and Online Channels

Challenges in AI Implementation in Retail Firms

Growth Restraints

AI in Retail—Important Trends

Trend 1: Rising Demand for AI-powered Branding and Marketing Solutions to Gain Insights from Unstructured Data

Trend 2: Retailer Focus on Online Product Search and Discovery to Target Potential Customers

Trend 3: Retailer Emphasis on Improving Customer Experience Through the Omnichannel Approach

AI-related technologies deployed by retailers

NLP is Emerging as an Underlying Technology to Support Different Retail Applications

Chatbots and Virtual Agents are Becoming the Core of Retail Operations for Customer Interactions

Retailers are Increasingly Using Speech Analytics to Gain Insights from Customer Interactions

Computer Vision Tools will Play a Pivotal Role in Improving External Shopping Experiences and Internal Retail Operations

Emotion and Sentiment Analysis will Offer Greater Insight Into Customer Behavior

Facial Recognition Technologies will Benefit In-store Retail Operations

Retail AI—Key Use-cases by Industry Segment (Online and In-store Retail)

Retail AI—Key Use-cases by Function

Retail AI—Key Use-case Categories Explained

Retail AI—Key Use-case Categories Explained (continued)

Company Profile—Intellias

Company Profile—ViSenze

Growth Opportunity 1: Chatbots and Virtual Assistants for Effective Interaction with Customers

Growth Opportunity 1: Chatbots and Virtual Assistants for Effective Interaction with Customers (continued)

Growth Opportunity 2: Integration of Augmented Reality Solutions to Enhance the Online Customer Experience

Growth Opportunity 2: Integration of Augmented Reality Solutions to Enhance the Online Customer Experience (continued)

Growth Opportunity 3: Integrating Cybersecurity Solutions to Secure Consumer Data

Growth Opportunity 3: Integrating Cybersecurity Solutions to Secure Consumer Data (continued)

Respondent Profile

List of Exhibits

Legal Disclaimer

In this research service, Frost & Sullivan examines the pivotal role of artificial intelligence (AI) in the retail sector. The study will help retailers understand the key trends in the evolving retail AI marketplace as they consider investing in cognitive capabilities. Frost & Sullivan offers insights for stakeholders by identifying AI growth drivers that will facilitate the deployment of AI-based solutions in the retail sector. The research service also examines retailers' growing focus on improving the customer experience through an omnichannel approach (using AI-powered branding and marketing solutions) and enhancing online search and discovery to target potential customers. In addition, the ravages of the ongoing COVID-19 pandemic, technological advancements, and evolving consumer demands are paving the way for the widespread adoption of retail AI technologies, especially in the eCommerce retail segment. This study also offers direction to technology vendors in terms of charting their strategic priorities and building new capabilities to capitalize on the emerging growth opportunities in the retail AI spac
More Information
Author Hemangi Patel
Industries Information Technology
No Index No
Is Prebook No
Podcast No
WIP Number PD10-01-00-00-00