by commercetools & Google Cloud
AI is changing commerce. Are you ready for the implications?
The use of artificial intelligence (AI) in retail e-commerce has been slowly building momentum over the last several years, with positive impacts on customer experience, operational efficiency, and revenues. However, the recent explosion of interest in generative AI (GenAI) is prompting retailers to ramp up their use of AI-enabled applications.
In the third quarter of 2023, a healthy 64% of retailers said they would increase spending on AI infrastructure in the next 18 months; by January of 2024; that number had swelled to 98%.Meanwhile, more than 90% of retail executives say they believe GenAI will play an important strategic role in their operations over the next three to five years.
