Exploring Real-World Applications of GenAI in Retail

Abstract

In this paper we provided a perspective on the integration of Artificial Intelligence (AI) in the retail sector, highlighting their transformative potential in reshaping industry dynamics. It delves into the multifaceted applications of AI in retail, including inventory management, personalized shopping experiences, dynamic outreach, and conversational support, underscoring how these technologies drive customer engagement, operational efficiency, and innovation in product and service offerings. Emphasizing the necessity of adopting these technologies, the paper contends that AI is not mere competitive advantages but crucial for maintaining relevance in the swiftly evolving retail landscape. The strategic integration of these technologies presents significant opportunities for growth and differentiation, although it necessitates substantial investment in resources and workforce upskilling.