Deep Dive: The Future Customer Experience – AI and IoT in Retail

Executive Summary

Many retailers are struggling to devise the perfect cross-channel experience for their customers—one that takes advantage of digitalization to provide targeted, just-in-time product or service information in an effective and seamless way.

The key internal capabilities needed to ensure a successful digital shopping experience are personalization, automation and the unique identification of the customer across shopping channels.

In this report, we:

• Discuss how artificial intelligence (AI) is changing the way retailers operate by enabling them to analyze customer data in order to improve interactions with shoppers and predict demand for better inventory management.
• Outline the applications of Internet of Things (IoT) technology for retailers and the advantages of adopting such technology in brick-and-mortar stores.
• Illustrate how major industry players are adopting AI and IoT technologies to offer data-driven personalization and customer service and improve their physical stores.