2024 and beyond will be about making AI adoption in retail as mainstream as possible and designing the strategies and guardrails around its adoption. Retail leaders are bullish about AI’s role in improving growth and profitability. According to Gartner, AI and machine learning will be among the top game-changing technologies to be implemented in retail by 2026. The emergence of large language models (LLMs) and generative AI rekindled AI’s importance in retail. LLMs and generative AI can unearth hidden consumer insights, create a 360-degree view, and enable hyper-personalized engagement.
