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AI Solutions will Drive the Future Growth Potential of the Retail Space for Technology Providers
11-Apr-2022
Global
Market Research
PD10-01-00-00-00
IT04497-GL-MR_26418
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
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
List of Figures
- State of AI Deployment among Retail Firms, Global, 2021
- Purpose of AI Implementation among Retail Firms, Global, 2021
- AI in Retail: Growth Drivers, Global, 2022–2028
- Challenges in AI Implementation among Retail Firms: Percentage of Respondents who Rated a Challenge as Critical, Global, 2021
- AI in Retail: Growth Restraints, Global, 2022–2028
- Deployment of Various AI-related Technologies among Retail Firms, Global, 2021
- AI Survey, Global, 2021
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Purchase includes:
- Report download
- Growth Dialog™ with our experts
Growth Dialog™
A tailored session with you where we identify the:- Strategic Imperatives
- Growth Opportunities
- Best Practices
- Companies to Action
Impacting your company's future growth potential.
| Deliverable Type | Market Research |
|---|---|
| Author | Hemangi Patel |
| Industries | Information Technology |
| No Index | No |
| Is Prebook | No |
| List of Charts and Figures | State of AI Deployment among Retail Firms, Global, 2021~ Purpose of AI Implementation among Retail Firms, Global, 2021~ AI in Retail: Growth Drivers, Global, 2022–2028~ Challenges in AI Implementation among Retail Firms: Percentage of Respondents who Rated a Challenge as Critical, Global, 2021~ AI in Retail: Growth Restraints, Global, 2022–2028~ Deployment of Various AI-related Technologies among Retail Firms, Global, 2021~ AI Survey, Global, 2021~ |
| Podcast | No |
| WIP Number | PD10-01-00-00-00 |
Global Retail Artificial Intelligence (AI) Growth Opportunities
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