Blog Posts Business Management

#RetailTech: Prioritising AI opportunities in retail – Retailers’ guide to identify the right AI use cases

Blog: NASSCOM Official Blog

A critical element for success of AI initiatives is to pick the right use cases that create long-term value for the enterprise. My previous article on AI use case landscape in retail: Guide to start your AI journey showcases a periodic table highlighting the breadth of AI use cases that retailers can implement today to start their AI journey. However, it is important that they prioritise the right use cases to accelerate their AI journey and this article talks just about that.

Source: MarTech Advisor

A comprehensive framework encompassing all the vital parameters is necessary before making the business case for working on an AI use case.

Enterprises need to evaluate the use cases thoroughly based on their organisation’s priorities, vision, road map, culture and capabilities. Here is a simple, yet powerful, use case prioritisation matrix based on a combination of business impact and ease of implementation considering existing capabilities and limitations of the enterprise. The below framework, prioritises the use case categories and provides a directional view for enterprises who want to start or scale their AI journey.

Enterprises can start with “Quick wins” – use cases that have high business impact and but are also easy to implement, or “Big bets” – use cases having high business impact but also higher implementation effort, or retailers can look to implement “Incremental” use cases – uses cases that are easily implementable but may not have a huge impact on business.

The above graphic highlights illustrative use cases in each category.

For more details download NASSCOM’s full report on AI in Retail here

Photo sources used in the graphic: Chatbots Magazine, Getty Images, Towards Data Science

In case you are looking for some use cases that will help you amidst the pandemic. You should also checkout our recent article on #TechFightsCOVID: 10 AI use cases to help retail enterprises amid COVID-19

The pandemic has affected MSMEs the most, and technology can help them get back on their feet. The critical factors that MSMEs consider while implementing AI uses cases are cost effectiveness, ease of implementation, high business impact and low business risk.

Some Illustrative Priority use cases for MSMEs – customer service chatbot, theft detection, smart vending machine, personalised marketing and shopping assistant

Our full report on Indian retail: AI imperative to data-led disruptive growth provides further details of these use cases, AI in retail ecosystem and bold plays for retailers to traverse the AI maturity curve.

Watch out for more interesting articles.

The post #RetailTech: Prioritising AI opportunities in retail – Retailers’ guide to identify the right AI use cases appeared first on NASSCOM Community |The Official Community of Indian IT Industry.

Leave a Comment

Get the BPI Web Feed

Using the HTML code below, you can display this Business Process Incubator page content with the current filter and sorting inside your web site for FREE.

Copy/Paste this code in your website html code:

<iframe src="" frameborder="0" scrolling="auto" width="100%" height="700">

Customizing your BPI Web Feed

You can click on the Get the BPI Web Feed link on any of our page to create the best possible feed for your site. Here are a few tips to customize your BPI Web Feed.

Customizing the Content Filter
On any page, you can add filter criteria using the MORE FILTERS interface:

Customizing the Content Filter

Customizing the Content Sorting
Clicking on the sorting options will also change the way your BPI Web Feed will be ordered on your site:

Get the BPI Web Feed

Some integration examples