{"id":76056,"date":"2024-03-18T08:00:00","date_gmt":"2024-03-18T15:00:00","guid":{"rendered":"https:\/\/www.salesforce.com\/?p=76056"},"modified":"2024-09-16T14:53:09","modified_gmt":"2024-09-16T21:53:09","slug":"ai-in-retail-statistics","status":"publish","type":"post","link":"https:\/\/www.salesforce.com\/news\/stories\/ai-in-retail-statistics\/","title":{"rendered":"Retail Roadblock: Lack of Data Strategy Stands in the Way of Generative AI Progress"},"content":{"rendered":"\n

A new report from Salesforce and the Retail AI Council<\/a> finds that global retailers are eager to adopt generative AI<\/a> to personalize and improve in-store and online shopping experiences. However, nearly half of the 1,300 retailers surveyed are struggling to make their data accessible, and just 42% are connecting their various data silos, which can lead to ineffective or inaccurate artificial intelligence (AI) outputs.<\/p>\n\n\n\n

Why it matters:<\/strong> Generative AI is expected to have a $9.2 trillion impact<\/a> on the retail sector by 2029 as retailers see the benefit of implementing this technology to streamline operations, increase productivity, and deliver more personalized experiences for shoppers and associates. However, just 13% of customers completely trust companies<\/a> to use AI ethically, and 63% are concerned about bias in AI outputs.<\/p>\n\n\n\n

\n

The AI revolution is about data, trust, and customer experience. Looking at AI in isolation, without understanding these elements as a package, will hurt a retailer\u2019s ability to build loyalty and improve customer relationships.<\/p>\nRob Garf, GM of Retail and Consumer Goods<\/cite><\/blockquote>\n\n\n\n

Salesforce perspective:<\/strong> \u201cThe AI revolution is about data, trust, and customer experience. Looking at AI in isolation, without understanding these elements as a package, will hurt a retailer\u2019s ability to build loyalty and improve customer relationships. The research we\u2019re sharing today will help retailers better understand the need for a unified data strategy and how generative AI can be used to enhance the experience for both shoppers and associates.\u201d \u2013 Rob Garf, GM of Retail and Consumer Goods<\/p>\n\n\n\n

By the numbers:<\/strong><\/h2>\n\n\n\n

Retailers are eyeing generative AI for personalization and customer service use cases<\/strong><\/h2>\n\n\n\n

The retail industry isn\u2019t shying away from AI adoption. <\/p>\n\n\n\n