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The CORE Framework for Artificial Intelligence in Retail

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Coresight Research

Key Points

We outline the CORE framework for Artificial Intelligence (AI) in retail. This framework notes the value of AI in four areas for retailers seeking to compete with platforms such as Amazon and JD.com:

  • Communication, with personalized homepages, emails and app experiences, plus chatbots, virtual assistants and voice assistants.
  • Optimize Pricing, by forecasting demand and reviewing competitor pricing, which feed into dynamic pricing.
  • Rationalize Inventory, through forecasting consumer demand, smart allocation of inventory and automated audits.
  • Experiential Retail, with AI bringing new ways for shoppers to engage, discover, buy and pay.

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