Everyone is talking about Artificial Intelligence or AI; this umbrella of technologies that is able to emulate and sometimes replace human cognitive performance. In fact AI is already largely present in everyday digital interactions. Think of voice recognition, maps itinerary calculation, stock trading and gaming to name a few.
In retail, Artificial Intelligence is primarily being used by market leaders to personalise marketing engagement, optimise supply chain operations and costs and enhance customer experience across channels. Let’s walk through a few examples.
Earlier this year, news that Amazon had acquired Souq.com threw the Middle East retail scene into turmoil, for the e-commerce giant’s hunger for growth is legendary. Yet over the ensuing months, business has more or less returned to normal. As we consider how Amazon changed the face of India’s e-commerce landscape forever – despite a late entry onto the local scene – and given the many similarities seen between India and Middle East market conditions, we could well be witnessing the calm before the storm.