While AI is a growing trend in retail, one thing remains constant: the value of location.
AI searches for relevant connections in the background as customers shop and browse online and in person. It has already helped retailers make millions of decisions in order to better manage their inventory, understand customers, and price products and services.
It’s only just beginning. AI can parse data in a way that no human being could. This allows AI to identify disruptions and product demand sooner, helping retailers avoid missing out on opportunities. The location is still a key factor in this endeavor. Retail operations that are most successful give the customer exactly what they want, when they want it and at the price they can afford.
Source:
https://www.forbes.com/sites/esri/2023/07/10/as-retailers-adopt-ai-one-things-unchanged-the-value-of-location/?sh=5f7ef416edaf
