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60% Of Retailers Want To Provide ‘Human-Like’ AI Customer Service

As digital strategies become the imperative, retailers are looking seriously at the capabilities of Artificial Intelligence (AI): 60% want AI to provide human-like recommendations for automated customer support/advice, according to a survey from Infosys.

In the next 12 months, retailers and CPG companies may be implementing a number of AI initiatives:

  • 41% want AI to process complex structured and unstructured data and to automate insights-led decisions;

  • 39% want to use AI to create a simulated experience that then helps a decision-making process;

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  • 35% want to use AI to create a decision-making system in which machine learning allows the system to learn from humans and improve itself; and

  • 20% want to use AI to institutionalize enterprise knowledge.

     

But a few roadblocks may be holding them back:

  • 61% lack in-house knowledge;

  • 52% lack financial resources; and

  • 47% lack  a clear implementation plan for AI.

53% Of Retail/CPG Companies Are Focused On Digital Transformation

New technologies such as AI are just one part of digital transformation for retail and CPG companies, as 53% reported that  say they are presently undergoing full-cycle digital transformation. Another 38% are transforming partially or in pockets and 9% are not currently transforming but will do so in the near future.

One of the key initiatives that will move the needle on digital transformation is employee lifelong learning programs, cited by 58% of survey respondents.. Lifelong learning programs can accomplish a number of future-forward goals:

  • 44%: Improves employees’ ability to fit into new roles and jobs;

  • 37%:  Improves productivity; and

  • 13%: saying it Prevents the impact of skills loss when employees with highly specialized skills retire or switch jobs.

According to the survey report, the top three digital transformation goals include:

  • Delivering great customer and employee experiences (54%);

  • Becoming more agile and customer-centric (43%); and

  • Building a mobile-centric enterprise (38%).

The Infosys study, titled: Human Amplification in the Enterprise, surveyed more than 1,000 business leaders from U.S. organizations across various sectors, with annual revenue of $500 million or more. The Retail and CPG section of the report solely highlights the responses of 100+ executives surveyed within those sectors.

 

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