Retail
TECHNOLOGY
recommendations . Spotify is exploring how deep learning can help it recommend music to customers based on their acoustic preferences .
But while the average investment across the industry lags behind other sectors , it is expected to double to an average of $ 47mn by 2020 . The areas of content production and distribution are likely to see some of the most interesting innovations . Associated Press is already producing written content with AI , while digital advertising is at the forefront of AI technology as content and platform owners seek to prop up value in an ever-tightening competitive landscape .
Retail
AI is powering efficiency and transformation right across the retail sector and its supply chain . From the personalised upselling of products to customers with smart recommendations online , through to automated warehouses and even automated delivery , the foundational impact of the technology is the reason 91 % of retail companies say they already use it extensively . Almost 50 % of retail companies expect AI to have the biggest impact in their sales and marketing functions .
Advanced analytics are also informing boardroom decisions . Just under 70 % of retail companies reportedly use AI to analyse industry trends , gauge customer sentiment and derive insight from historic sales data in order to make more informed strategic decisions .
24 November 2017