AI transformation in retail sectors Online publication date: Wed, 03-Nov-2021
by M. Sivaram; V. Porkodi; Manivel Kandasamy; A. Sasikala
International Journal of Public Sector Performance Management (IJPSPM), Vol. 8, No. 3, 2021
Abstract: The retail industry is growing vastly with large volumes of resources and increase challenges from new technologies. Today, the world is witnessing the occurrence of artificial intelligence (AI) technology which provides solutions to many complications faced by individuals in various sectors. Novel ways to organise economic activities are emerging which is facilitated by artificial intelligence. AI presents the advantages of increased safety and lowers costs in international as well as domestic payment transactions. It can reinstate paper-based and manual purchase orders and other trade documents, using 'smart' contracts. AI makes a dramatic impact on the retail sector. The use of AI technology has the potential to change the retail industry by introducing new ways of transacting that are expected to change the traditional ways in which enterprise exchange data and money. With the innovation of AI, the retail industry is developing vastly and has also paved the ways for seamless accessibility of processes anytime and anywhere.
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