Retailer spending on AI to reach $7.3 billion by 2022
A new study from Juniper Research (www.juniperresearch.com) has found that global retailer spending on AI (artificial intelligence) will reach $7.3 billion per annum by 2022, up from an estimated $2 billion in 2018, as retailers target new avenues to increase personalization of the customer experience.
The research group found that retailers will heavily invest in AI tools that allow them to differentiate and improve the services they offer customers. These range from automated marketing platforms that generate tailored, timely offers, to chatbots that provide instant customer service.
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