AI for Retail

Peak, the pioneer of the AI System, has been named a Cool Vendor by Gartner in the Cool Vendors in AI for Retail report. The report recognizes interesting, new and innovative vendors, products and services. The new report states that “retail digital transformation requires continuous adaptation. Retailers succeed by leveraging AI technologies to understand customers, creating new customer experiences while generating cost savings through operational efficiencies. CIOs can use these Cool Vendors to assist in this…

According to a latest report, AI in retail is expected to witness a growth in spending of over 200% between 2019 and 2023. The projections reveal that it will be $12 billion in spending by 2023. Currently, the retail industry spends close to $49 million. This spending is distributed among marketing, sales, finance and customer service departments. By 2023, a significant volume of global spending in retail would be focused on back office operations, warehouse automation and analytics. In fact, it’s the use of AI for…