Too Long; Didn't Read
The global annual spending on AI by the retailers will reach 7.3 billion by 2022. The most popular use of this technology in the retail industry is for search, recommendation engines for content, and data science. According to a survey of 400 retail executives, AI could help retailers save USD 340 billion annually by the year 2022 by enabling efficiency in several processes and operations. Forrester believes that Artificial Intelligence will replace 7% of jobs in the U.S. by 2025. The increased efficiency in the operations means increased profits for the company.