Shopping for artificial intelligence: how emerging technology is remaking the retail sector

Oxford Economics research shows that AI’s impact on retailers is just beginning

Retailers are buying into artificial intelligence in a big way, but they are discerning customers. A new study conducted by Oxford Economics for Synchrony Financial shows retail executives are counting on AI to transform their companies and their industry − while remaining sceptical about the enormous hype surrounding the technology.

Oxford Economics surveyed 324 executives across seven US retail sub-sectors in late 2018. The study shows that most retailers are in the early stages of AI adoption, but that momentum is building rapidly. Early leaders are focused on getting strategic value from AI—and are seeing a range of business results.

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