And this is not the only industry that AI is working its magic on.
Online shopping platforms and online stores have already been employing smart techniques to thrive. From aggressive advertising to strategic partnerships, they have been highly successful in attracting customers and growing their profits. It is also not unexpected that many businesses are already using artificial intelligence in various forms.
Based on numbers from Statista, the global AI market in the retail industry was valued at $3.9 billion in 2020 and is expected to grow to $5.06 billion in 2021 and $6.55 billion in 2022. It is projected to accelerate its growth to become a $23.32 billion market by 2027.
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