Three core areas across the retail value chain — merchandising and assortment, store operations and logistics/fulfillment — are poised to benefit from specific high-value use cases for AI and machine learning. Companies using AI/ML can drive:
- 2X more data-driven decisions;
- 5X faster decision-making; and
- 3X faster execution.
Just in the area of omnichannel fulfillment optimization, AI algorithms, in combination with cloud data platforms aggregating fast-moving data across fully integrated shopping experiences, have the potential to unlock as much as $42 billion in projected value annually by 2023.
Learn more about AI/ML’s retail industry potential in this infographic from Google Cloud.