Published 05-12-2023
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Abstract
Retail is a dynamic business sector. There is a constant pressure on retailers to enhance their services and technologies in order to remain competitive. In their efforts to gain significant competitive advantages through the use of innovative technologies, the retail industry has been experiencing a new wave of changes. The essence of the transformation is powered by the advent of big data, high-speed computing capabilities, and artificial intelligence. It is now possible for the latest AI technologies to revolutionize retail marketing and business intelligence by successfully understanding customer psyche and behavior, and by doing so, customizing each customer's shopping experience. Merely collecting, processing, and gaining insights from big data is insufficient to meet customer satisfaction. Attaining a meaningful shopping experience requires going beyond traditional technological boundaries. With the latest AI systems and procedures, it is envisaged to transform what was logistically and computationally challenging into a simple optimization and operational environment.
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