Data Iku takes an in-depth look at the shifting state of brick-and-mortar retail, and the many opportunities that new technologies have to improve efficiencies in physical stores with powerful metrics akin to e-commerce measurements.
Capgemini found that sales and marketing were the top use cases for AI in retail, even though most were just POCs. They anticipate that there is $340 billion in increased profits for businesses that can take advantage of AI use cases in operations, such as “AI stock replenishment” and “AI-bots for shelf scanning.”
So far, aside from the big players like Amazon, brick-and-mortar retail is behind in the move to AI.
There are also some up-and-coming technologies looking to provide baseline AI technology for brick-and-mortar retail, like Trax. They’re poised for big things, especially since Capgemini found in the same report that AI has only penetrated 10 percent of brick and mortar stores, as most adoption is limited to digital-native businesses, and Trax is targeted at physical stores, a wide open market with a lot of potential for innovation.