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AI Pervasiveness in Retail

Blog: NASSCOM Official Blog

The retail sector leverages various digital technologies such as Robotics, IoT, AR/VR, etc.,. While all these technologies have potential to operate in isolation, when combined with AI these technologies get a centralized brain. AI not only complements these technologies, but also acts as a link between them, which allows AI to access data from different systems and deliver real-time insights. Some of the most widely used AI technologies across the retail value chain are Machine Learning, Computer Vision, Conversational AI, Data Science and NLP. Today AI finds application across the retail value chain to address challenges such as demand forecasting, product development, supply chain planning, store operations, campaign management and customer experience.

Key Highlights

Retail landscape

Technology interventions

AI across the retail value chain

Road ahead

While AI holds potential to disrupt retail sector, it still needs to overcome challenges related to existing infrastructure, lack of relevant data, regulatory hurdles and availability of skilled workforce

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