Of all of the important trends occurring in the retail space right now, artificial intelligence has definitely been one of our most discussed topics this year. With the help of AI, retailers are able to glean some of the most invaluable insights powering their business strategies. Not to mention the ability to reallocate resources towards more strategic initiatives and leave the mundane, tactical jobs to the robots.
To unpack the past, present, and future of AI in retail, I spoke with Fract CEO and Co-Founder Mike Mack on our new podcast program, Retail Tech Radio. You may remember that we previously spoke with Mack about AI and how it’s shaping retail strategy, so we wanted to circle back with him about trends seen in 2017 as well as what 2018 and beyond hold.
In our discussion, Mack covered important examples of how AI implementation is make-or-break for many industries (he cites the cosmetics/beauty industry), how we can expect the technology to be applied in retail settings into the New Year, and some other interesting technologies outside of AI that are crucial to the success of retailers.
“…That’s what was really striking to me. It’s not the things that people see. It’s the subtleties that actually can change a business,” stated Mack. While commenting on the granular power of AI technologies, he brought to light the importance of those tiny grains of data and how they translate into a business’ success.
You can listen to our full conversation about AI in retail and predictions for 2018 and beyond here:
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