AI, machine learning, and generative AI transforming the Retail landscape

In an era of rapid technological advancement, the retail landscape is undergoing rapid transformation. As we step into the future, the intersection of innovation and consumer experience is giving rise to exciting trends that redefine the way we shop. Here we delve into the top six retail technology trends for 2023, as highlighted by industry experts:

AI, Machine Learning, and Generative AI: Transforming Retail Insights

Artificial Intelligence (AI) and Machine Learning (ML) have become integral to the retail experience, with AI-driven recommendation engines leading the way. Brad LaRock, Vice-President of Marketing at Datasembly, emphasizes the need for retailers to leverage AI and ML technologies for data analysis across multiple channels.

The introduction of Generative AI, exemplified by tools like ChatGPT, is opening new possibilities, automating tasks such as product descriptions and model imagery generation.

itim Group plc (LON:ITIM) is a SaaS-based technology company that enables store-based retailers to optimise their businesses to improve financial performance and effectively compete with online competitors. Itim adds retail value by helping multi-channel retailers optimise their business and their stores to improve financial performance and compete more effectively with the “Amazons”.

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