One of the most promising use for Artificial Intelligence is People/space analytics According to Juniper research global spending Retail analytics spending on AI is o reach $7.3 billion by 2022. This advancement in AI and machine learning is opening up new possibilities for optimizing new and past mesues in retail management.
The 2 billion dollar investment in 2018 will increase drastically with more advancement in people and space tracking technology. Retail will start spending more on Artificial Intelligence technologies to improve and optimize their customer service initiatives.
Knowing your customers behaviours is a powerful tool to manage better business. With the advancement in AI these management tools will get automated and managers then will have more time to create plans to increase returning customers and manage better business growth. marketing platforms will automatically tailor to individual customers buying habits. Managers understand the importance of new ways of boosting personalized customer experience. Artificial Intelligence is promising automation and customization with a click of a button. By 2019, around %40 of retails will rush to develop a customer experience architecture by using artificial intelligence. Thes platforms will increase conversion rate, reduce labour cost, increase revenue and ease management practices.
AI technologies will be able to analyse customer behaviour and then predict future behaviour.