Retail Is Getting Harder: Here’s how artificial intelligence can help retailers prepare for future disruptions.
Over the last couple of years, the retail industry has been navigating against brutal headwinds: the worst pandemic in 100 years, global supply chain disruptions, and accelerating inflation—all made worse by 1.1 million unfilled retail jobs. With a recession looming, retail businesses find themselves between a rock and a hard place.
Still, every crisis brings about some positive changes. Retailers are discovering new strategies for customer service, supply chains, inventory management, pricing and promotion. They are preparing their brick-and-mortar stores for the digital age, reinventing legacy systems and beginning to tackle such advanced technologies as artificial intelligence (AI).
This article provides a high-level overview for executives of how AI can help retailers resolve short- and long-term challenges like improving customer experience, circumventing supply chain and inventory disruptions, and offsetting the lack of motivated employees. Read more at RFID Journal.
