AI in Retail Market to reach $8bn by 2024 Artificial Intelligence (AI) in Retail Market

AI in Retail Market to cross $8bn by 2024:
Fractovia.org
According to the new research report “Artificial Intelligence (AI) in Retail Market”,
by Global Market Insights, Inc. says Artificial Intelligence (AI) in Retail Market to
exceed USD 8 billion by 2024, driven by advent of new business models and
advancement in data science. In an era dominated by tech advancements, artificial
intelligence (AI) in retail market is expected to emerge as a viable investment ground,
given the pace at which AI is being incorporated in industry verticals. Amidst this
backdrop, traditional retail chains have been modifying their approach, especially after
2017 witnessed the application for bankruptcy by 21 retail chains inclusive of biggies
such as Toys R’ Us, Aerosoles and RadioShack.
The proliferation of the smart era has made retail giants realize that the competitive
scenario has been majorly transformed by e-commerce behemoths like Alibaba and
Amazon, that had successfully created a paradigm shift in the retail industry with their
efficient leveraging of big data and AI. The success that these behemoths have
attained in the retail sector with the use of artificial intelligence can be largely credited
to their organized efforts and technologies in tracking customer behavior.
Artificial Intelligence (AI) in Retail Market
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