AI and retail: smart tips for selling online & in-store | Algolia

Artificial intelligence (AI) is revolutionizing the retail sector, with applications in both brick-and-mortar stores and ecommerce websites. AI technology can gather and process data to identify patterns and make sense of large amounts of information, leading to improved customer experiences and more accurate forecasting. Retailers can leverage AI algorithms based on customer data to enhance decision-making, reduce shrinkage, and optimize pricing, stock management, and product placement. Furthermore, AI is enabling personalized shopping experiences through tailored recommendations and 24x7 availability. The global AI-in-retail market is projected to reach $24 billion by 2028 and $45 billion by 2032, highlighting the significant potential for retailers to leverage AI technology in their operations.