With Dramatic Growth Projected For AI-Powered Customer Service, Are Retailers Investing Enough?

By 2021, customer service interactions powered by AI will grow by 400%. For example, McDonald’s outdoor drive-thru menus will vary based on time of day or trending menu items, while “smart shelves” at Kroger will enable the grocer to provide personal pricing information and suggest recommended products to shoppers.

Still, only 15% of companies report that they are spearheading investment and adoption of AI systems, with only one out of four large retailers investing up to 10% of their IT budget on them. Among all other retailers, only 7% spend that same percentage on their AI investments.

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