Technology
Retailers boosting AI investment
October 12, 2023
Nearly all, 92%, of U.S. retailers plan to increase AI investment in the next year, compared to 100% in India and China.
That's a prime finding from Lucidworks' generative AI benchmark study polling 6,000 employees involved in AI decision-making from nearly 300 retail companies worldwide.
The data also revealed 49% of retail participants have a positive feeling toward AI, and 12% have a negative sentiment, according to a press release.
The most common expected impact of generative AI in retail will be in business opportunities improvement, followed by automation, efficiency gains and customer experience improvement.
One of the biggest concerns around the technology is job displacement and security.
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