2017 has been a landmark year for Bitcoin. The cryptocurrency has seen its value skyrocket in the last eight months, jumping from below $900 at the start of the year to well over $4,000!
 | | Insights Beyond the Headlines | | The applications for artificial intelligence are seemingly endless - but what industries are leveraging it most successfully? Artificial intelligence (AI) has become one of the hottest topics in 2017.
The proliferation of smart speakers like the Amazon Echo and Google Home have begun to show the power of AI.
In fact, AI is becoming so powerful that disruption titans Elon Musk and Mark Zuckerberg are making headlines debating whether it benefits our future, or threatens it.
Amazon recently announced it was working on a tool that could use machine-learning to better the online-shopping experience. This tool would be able to determine if an outfit was stylish, and then recommend a potentially better outfit instead.
But Amazon isn't the only retailer leveraging artificial intelligence.
Many retailers are attempting to differentiate themselves by creating highly curated experiences that combine the personal feel of in-store shopping with the convenience of online portals. These personalized online experiences are powered by artificial intelligence.
In a new report from BI Intelligence, we illustrate the various applications of AI in retail and use case studies to show how this technology has benefited retailers. It assesses the challenges that retailers may face as they implement AI, specifically focusing on technical and organizational challenges. Finally, the report weighs the pros and cons of strategies retailers can take to successfully execute AI technologies in their organization.
In full, the report: - Provides an overview of the numerous applications of AI in retail, using case studies of how retailers are currently gaining an advantage using this technology. These applications include personalizing online interfaces, tailoring product recommendations, increasing the relevance of shoppers search results, and providing immediate and useful customer service.
- Examines the various challenges that retailers may face when looking to implementing AI, which typically stems from data storage systems being outdated and inflexible, as well as organizational barriers that prevent personalization strategies from being executed effectively.
- Gives two different strategies that retailers can use to successfully implement AI, and discusses the advantages and disadvantages of each strategy.
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