Retailers Set to Embrace AI as The Future

By CIOReview | Monday, November 27, 2017
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According to a recent survey, close 54 percent retailers mentioned that they are currently using or look forward to using artificial intelligence in the near future while 20 percent where positive of adding artificial intelligence within the next one year. Of the 54 percent who are using or plan to use artificial intelligence, 56 percent preferred personalized product recommendations, 41 percent supported applications to handle queries with regard to customer service while 35 percent looked at chatbots playing a crucial role.

Of all the participants in the survey, 92 percent planned to implement their tasks in the third quarter of the year, wherein almost 90 percent looked forward to witnessing hike in revenues within the same quarter of implementation while 80 percent foresee increased revenue from mobile sites as well as apps in the same quarter. It is undeniable that as the growth projectile moves forward, the retailers change their plans when concerning investment in the best artificial intelligence technology. Through this year, product recommendation has seen many retailers using their artificial intelligence to.

Chatbots have taken a place in the center of retail AI functionalities. While a small percentage of users already use AI for chatbot, one fourth has planned to implement the same in the next one year. Mobile software company, Helpshift, set the example in recent months by using artificial intelligence in retail space. Recently, the customer support platform provider announced the launch of Helpshift Web Chat where AI is used to provide customer service through chat-based media on websites and mobile sites. Many retailers have shown the willingness to use chatbots and customers are ready to embrace the same as well, although the first gen chatbots are going to be fairly filled with limitations.