Adrian Johnson
TLDR:
- AI transforming retail into the bedrock of growth
- 20% of top retailers expected to use distributed AI by 2025
Deloitte and the Retailers Association of India have released a joint report highlighting the significance of artificial intelligence in the consumer retail business in India. By 2025, it is estimated that 20% of top retailers will be utilizing distributed AI systems to revolutionize sales, marketing, supply chains, and operations. Additionally, around 45% of marketing leaders are planning to invest in generative AI within the next 12-24 months.
Key Points:
The report emphasizes the following key trends in retail technologies:
- Personalization And Customer-Experience Enhancement: Using AI and advanced analytics to provide personalized shopping experiences.
- Adoption Of IoT And AI To Optimize Supply Chains: Tracking inventory in real-time and predictive analytics for demand forecasting.
- Automation And Efficiency: Usage of robotics technology for operational efficiency and customer service improvement.
- Omnichannel Integration: Synchronizing online and offline channels for a consistent shopping experience.
- Data-Driven Decision-Making: Leveraging advanced analytics and AI for informed decision-making.
- Enhanced Security And Fraud Detection: Utilizing AI for identifying suspicious transactions and preventing theft.
In addition to these trends, the report also suggests various business models for retailers to capitalize on digital transformation opportunities, including subscription-based services, Retail-As-A-Service, and Experience and Community-Focused Retail.
Overall, the report indicates a significant shift in the retail industry driven by AI and other technologies, offering personalized experiences for consumers and creating new revenue streams for retailers.
