Retailers today find themselves at a cross road of customer expectations. Not only do the consumers increasingly want them to offer convenient, responsive and personalized services, they also expect ever-greater ownership over their retail journeys. In their quest to optimize retail execution, retailers are seeking out for Artificial Intelligence (AI) to obtain better insights and pervade across customer journeys, supply networks, merchandizing, and marketing and commerce. According to IDC, 40 percent of digital transformation initiatives will be supported by cognitive computing and AI capabilities in the next two years to provide critical and on-time insights to the retailers.
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