The Impact of AI and Data Collection on Retail Transformation

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What you will learn from this article:

Widespread Adoption and Investment in AI: Retail executives across the globe are rapidly adopting artificial intelligence, with 85% having developed AI capabilities and 53% planning further investment in the coming years.

AI as a Driver of Competitive Advantage: Retail leaders are using advanced data capture and analytics to power smarter business decisions, enhance service and streamline supply chain management.

Strategic Motivators: Retailers are adopting AI primarily to personalize customer experiences, optimize supply chains and improve inventory forecasting, balancing customer needs with operational efficiency.

Artificial Intelligence (AI) is no longer just a buzzword in retail – it's rapidly becoming the backbone of innovation, efficiency and customer engagement. According to the Global Retailer Technology Survey, executed by Honeywell and Wakefield Research, AI is driving a significant transformation across the industry, reshaping everything from customer service to supply chain management. Retail executives are not only embracing AI as a core element of their business strategy but are also leveraging advanced data capture technologies to ensure high-quality, actionable information is at the heart of their operations.