AI in Retail: The Future of Shopping
AI in Retail: The Future of Shopping Imagine walking into a department store and being greeted by a friendly chatbot that knows your name, your shopping habits, and can offer personalized recommendations based on your preferences. Sounds like science fiction? Think again! Artificial intelligence (AI) is rapidly transforming the retail industry, changing the way we shop, interact with brands, and make purchasing decisions. The Rise of AI in Retail A recent study by Grand View Research predicts that the global retail AI market will reach USD 13.8 billion by 2025, growing at a compound annual growth rate (CAGR) of 34.3% during the forecast period. As AI technologies continue to advance and become more accessible, retailers are leveraging these innovations to improve customer experiences, streamline operations, and drive business growth. AI-Powered Customer Service Chatbots: Conversational AI-powered chatbots are revolutionizing customer service. B...