Retailers turn to AI to address pain points

ETAILERS are now planning to increase use of automation and Artificial Intelligence (AI) across their operations so as to adapt to changing consumer behaviour and also to enhance employee skills and improve efficiency for shoppers.

- UMA KANNAN @ Bengaluru

Honeywell in its AI in Retail Survey findings found that retailers are increasingly investing in AI to address the biggest pain points they face in today's fast-paced, omni-channel climate, including improved return management, automating customer service and monitoring product availability.

"We are truly in the midst of a new era for the retail sector where evolving AI capabilities will make a positive impact on the shopper's journey, the employee experience and the retailer's supply chain operation," said David Barker, president of Honeywell Productivity Solutions and Services. "On their journey toward autonomous operations, retailers are looking for AI and automation solutions that provide actionable data and help to upskill their employees," he added.

The survey also found that retailers are using AI to enhance employees' skills and improve their on-the-job experience. More than half of the surveyed retail leaders by the company said that AI improves employee retention, and 52% believe AI can help employees progress more quickly in their careers, expand their soft skills and continuously provide value to their jobs.

About six in 10 of retail executives said that AI tools make the job easier for employees, while 55% said they increase job satisfaction. AI is also playing an increasingly important role in improving the customer experience for shoppers, both when shopping online and in person. It can provide shoppers better access to information, speedier transactions as well as an easier way to compare prices.