Creative and innovative ways leading retailers use AI

One of the most influential technologies for retail in 2024 will be AI. The speed at which AI tools emerged, like ChatGPT, this past year was nothing short of astounding. Likewise, the ease of use of these solutions contributed to their proliferation; regardless of technical proficiency, whether someone is a seasoned coder or marketer crafting an email campaign, various professionals can benefit from utilizing AI.

The use and propagation of AI will continue to increase this year. To stay competitive, brands must begin implementing AI while noting key AI use cases from industry leaders.

Here are some ways innovative retailers already use AI to enhance inventory management, enrich customer loyalty programs and drive personalized in-store and online experiences.

Enhance inventory management

One of the most game-changing benefits of AI is its ability to quickly analyze enormous amounts of data and extract valuable insights that empower retailers to make real-time, data-driven decisions. Previously, it was unheard of to actually find the needle of information inside the haystack of data — especially when considering how many channels and touchpoints retailers had to organize.

Now, thanks to AI, retailers can formulate answers from disparate information, make educated spending decisions and extrapolate data from one customer to larger cohorts.

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Learn how EPAM is helping retailers accelerate growth and agility through experience-led, tech-enabled business transformation: https://www.epam.com/industries/consumer/retail