Retail is evolving fast - and yet to utilize the power or AI

Retailing can be classified in to Online Retailing and Brick and mortar retailing. Among this, the most suitable lot for trying out Artificial Intelligence is Online or Digital retailing , because, the data will be very structured and easy to feed in to the AI system. Most of the research says that, there are around 7.1 million online Ecommerce sites in the world, and research by SEMRUSH says that, 80% of retail executives expect their retail companies to adopt AI-powered intelligent automation by 2027.

You know, out of the total online stores in the world - (year 2023) - almost 40% is created with Woo commerce - and Shopify constitutes around 29%. These are the big boys of online store :-) ( you need the ref - ? i got this info from here - https://barn2.com/blog/woocommerce-stats/)

Majority of these online stores are not using any AI, and the market is yet to explode.

One of the low hanging fruit in AI for Retail is in the "Customer Engagement" , via Chatbots, Retail CRM, Predictive analytics etc.,