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How is AI currently being utilized in the retail industry

AI is currently being utilized in the retail industry in a variety of ways to improve efficiency, profitability, and sustainability. One of the main ways AI is being used is through algorithmic engines that translate real-world browsing behaviors into digital retail opportunities. These engines allow customers to discover new or related products using image-based search and analysis, curating recommendations based on aesthetics and similarity. AI is also being used to personalize the buyer experience and create a more involved business-to-consumer communication, as well as to optimize business processes and improve sustainability. Additionally, AI is being used to spot unexpected trends and predict the next big trend in the retail industry by combing through vast amounts of data from online searches, social media, and past sales. This enables retailers to be ahead of the curve and cater to customer demands proactively. AI is also being used to support retail operations in a changing economy and increase profits. Retail businesses are also using AI to bridge the gap within virtual and physical sales ways and to operate their brick-and-mortar and online stores more comfortably and efficiently.

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