News Feature | May 31, 2017

AI Predicted To Be In Use By Almost Half Of All Retailers By 2020

Christine Kern

By Christine Kern, contributing writer

Threat Intelligence Solutions

New report find retailers see AI as the key to optimizing customer experiences.

Savvy retailers know that the future of customer services lies in the implementation of innovative technologies like artificial intelligence, according to the 2017 Customer Experience/ Unified Commerce Survey results from BRP. In fact, 55 percent of retailers are focused on optimizing the customer experience – and thus boost customer loyalty – through the use of technology to improve the mobile shopping experience and create a unified cross-channel experience.

“The customer experience in a unified commerce world is much more complex than it is in a pure play e-commerce or brick-and-mortar retail environment and we are seeing retailers map out the entire customer journey to design the optimal customer experience,” said Perry Kramer, vice president and practice lead at BRP. “This complexity expands exponentially as the proliferation of social media, the Internet of Things, (IoT), artificial intelligence and machine learning influence the retail world and more specifically, the customer journey.”

According to the BRP survey, the key customer experience capabilities include education, engagement, execution, enhancement, and enablers.  It found that social media is a powerful tool for customers who want to research brands and products. And most retailers are investing in new technologies to engage customers via smart devices. Meanwhile, 67 percent of retailers are already offering a consistent product assortment across channels, even as many retailers are still struggling with manual processes.

Social media also provides important customer insights, and 89 percent of retailers are now using social media comments as a critical measure of customer satisfaction, a serious increase from last year’s 59 percent.

Retailers also understand that enhanced networks are critical for a unified commerce environment, with three-quarters of all retailers planning to either enhance or replace their existing networks within the next three years.