Future of AI in Retail: Moving Beyond Chatbot Hype

As the use of artificial intelligence (AI) continues to grow, the retail industry is becoming more reliant on automation, data, and technologies like machine learning algorithms to deliver personalized shopping experiences to consumers. While OpenAI’s ChatGPT has become incredibly popular, there are other forms of AI that can also benefit the retail industry. According to Eli Finkelshteyn, co-founder and CEO of Constructor, a product search and discovery platform for retail companies, ChatGPT is not meant to solve all AI problems, but it can help retailers understand their shoppers’ needs and quests more effectively. AI can be used to automate manual tasks, provide data-backed insights, and offer loss prevention incentives like secure self-checkout systems. Retailers are expected to experiment with AI in the next few years, but it is important for them to ensure that they are providing real value to their customers rather than just gimmicks. As the use of AI continues to grow, it is also critical for governments to protect and educate their citizens and for AI companies to act ethically.