Evolving RetailTech: Winning competition in the digital era

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There are pearls and perils of implementing big data, machine learning, and artificial intelligence in eCommerce business. Despite AI technologies projected to account for $27,238.6 million in the retail market by 2025, according to Artificial Intelligence in Retail Market 2025 Report, this new brave world boasts of a raised number of malicious actions aimed at the retailers. Moreover, when adopting AI, eCommerce businesses face the growing demand for correct collecting and collating data as well as the ability to interpret insights gained.

The retail giants already leverage artificial intelligence and machine learning in eCommerce, setting the pace of technological disruption. But how do small and midsized retailers survive in this high-velocity business environment?

Our whitepaper brings awareness about challenges brought by AI, ML, and big data to the retail market and showcases how these technologies help companies scale their business.

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Personalization is a key

As consumers become more tech-savvy every day, they expect perfectly tailored experiences as a standard of service. How can companies avoid mass customization and move to more personalized offers?

The answer lies in solutions powered by artificial intelligence and machine learning, eCommerce businesses use to stay competitive. Since AI and ML offer unprecedented opportunities, the retail industry will increasingly rely on these technologies. Moreover, the report by the Capgemini Research Institute reveals that AI can potentially save retailers $340 billion annually by 2022.

Our whitepaper answers the following questions:

What shapes the future of ML and AI in eCommerce?
How can retailers drive the most value from their investments in AI and ML?
What are the key areas of focus for retailers when adopting new technologies?
What are the efficient use cases of artificial intelligence in eCommerce?

How global retail players use ML and AI in eCommerce

Amazon

Combining sensor fusion, machine learning, and artificial intelligence, eCommerce giant developed an automatic payment processing mechanism for cashier-less supermarkets.

Asos

Leveraging machine learning, eCommerce company created the ‘Asos Fit Assistant’ that helps online shoppers find the right size.

Walmart

The retailer tests AI-powered robots to keep their stock and prices updated.

Zara

With the help of robots, Zara’s customers can pick up their orders immediately upon arrival.

Embrace the power of AI in eCommerce with Intellias

Intellias has a strong focus on the retail software development, delivering solutions to Fortune 500 companies, global retailers, and premium eCommerce brands. Let us share with you the insights we apply in practice while developing top software engineering services for our clients globally – all gathered in one whitepaper. Download to learn more.