The Role of Artificial Intelligence in Reimaging the Customer Experience in Retail Sector – NVIVO Analysis for Customer Journey Mapping
Keywords:Artificial Intelligence, Customer Experience, Retailing, NVIVO Analysis, Decision Making
The term "Artificial Intelligence" (AI) is frequently used to describe intelligent software, devices, or systems. Its use can improve the intelligence of goods, services, and solutions, making it a field of research that is fast expanding and will have a big impact on the market. Retailers use AI to analyse massive amounts of data produced through sales, online surfing, social media, mobile usage, and consumer satisfaction, and it has become an essential component of the retail business. Retailers are investing in a number of AI solutions due to the exponential growth of corporate data. Spending on AI reached $6 billion by 2022, or around $18 per person in the US.
The demand and supply sides of retailing are impacted by AI. On the demand side, it assists and guides retailers understand and anticipate customer needs, enhance customer lifetime value, and improve decision-making. Whereas AI optimizes inventory management and logistics on the supply side, to make supply chains more efficient. AI also changes the relationship between shoppers and retailers by assisting consumers in their decision-making. This paper provides a framework for understanding AI, highlighting its applications in different aspects of retailing. It supports and orients the demand side.
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