AI adoption key to retailer success

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Retailers using artificial intelligence (AI) tools to create real-time personalised experiences for their customers are 50% more likely to exceed their business goals than those who are not, new research has found. 

A report by Adobe revealed that AI is becoming an important driver of customer experience, where 24% of respondents said they were pushing forward with AI investments. Some 57% of respondents stated that their company is already using or planning to use AI technology. 

However, four in ten businesses reported that they lack knowledge and resources of AI to implement it, or the required talent to engineer good customer experiences. Three quarters of those surveyed said they are now investing in digital skills.

The study also found that companies employing tools that allow streamlining of workflows between different functions are 62% more likely to demonstrate better business performance.