Will the rise of artificial intelligence significantly disrupt traditional retail business models in the next decade, or will it primarily enhance efficiency and customer experiences?

AI could increase retail sector's AI services from $5 billion to above $31 billion by 2028.

AI can automate back-office activities, use robotics for quality checks, and streamline in-store operations.

AI-enabled logistics management can predict demand, reducing inventory planning errors.

AI market expected to grow to over $309 billion by 2026.

72% of retailers using AI have experienced a decrease in operating costs.

AI is enhancing operational efficiency, elevating customer experiences, and driving growth.

By 2029, spending on AI for retail businesses is expected to reach $52.94 billion.

AI chatbots can assist with customer service, and AI personalized customer recommendations can increase sales.

AI adaptive advertising, promotions, and pricing can optimize marketing strategies.

Retailers must invest in AI expertise, which can be time-consuming and costly.

AI can automate in-store operations, reducing operational expenses.

In 2021, the global value of the market for AI in retail was $484 billion.

By 2029, spending on AI for retail businesses is expected to reach as much as $52.94 billion.

AI can predict which products or styles will be the next big hit, enabling retailers to stay ahead of the curve.

AI technology can unlock sustainable retail potential through digital transformation.

Retail companies are increasingly using AI technology, including machine learning, for new tech solutions.

AI can replace sales personnel, assisting customers in retail stores.

By 2032, the global artificial intelligence in the retail market is projected to reach around USD 4574 billion.