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This PSFK report studies how generative artificial intelligence will spur a digital transformation in retail and along the customer experience journey.
PSFK has been reporting on the use of artificial intelligence for some time, in the past 12 months we have seen an exponential evolution in the access, use, and capability of AI-driven systems. New generative AI models have caught the imagination of both consumers and businesses alike, and technologists are rushing to supply features and services that respond to the market’s fascination.
The purpose of this report is to explore the ways in which AI is impacting the retail experience and to provide recommendations for retailers and consumer goods companies to leverage this technology for their benefit. Our new research shows that AI will change the customer experience in two ways: by offering shoppers seamless shopping and by providing retailers an advanced level of operational excellence.
Seamless shopping will leverage AI to enhance and personalize the customer experience, making it easier for shoppers to find the products they need and creating engaging interactions with brands. Operational optimization will utilize AI to improve efficiency, reduce costs, and mitigate risks.
This report focuses on AI-driven strategies that impact the customer experience along the purchase path, from product discovery to post-purchase support. Our researchers provide a list of case studies to learn from, along with supporting data points. In addition, we provide suggestions and recommendations on how companies can leverage this technology to retool customers’ experience and their business operations to deliver exceptional retail.
This report builds upon previous research conducted by PSFK on AI and retail. In February 2021, PSFK’s research on AI-powered customer experience focused on the integration of AI throughout the digital customer journey, demonstrating how it can provide personalized assistance across all channels. In March 2022, our research highlighted the importance of AI and machine learning in delivering top-notch customer service experiences.
PSFK’s latest report on AI and retail, published in March 2023, continues to emphasize the importance of AI in delivering personalized and seamless customer experiences. However,
the report shifts its focus to the theme of AI-powered retail for personalization and efficiency, with an emphasis on seamless shopping. The report identifies how AI is being used to enhance and personalize the customer experience, making it easier for shoppers to find the products they need and creating engaging interactions with brands.