Innovation of Artificial Intelligence in Retail Market to Retain Consumers

Running head: INNOVATION OF ARTIFICIAL INTELLIGENCE IN RETAIL MARKET
Innovation of Artificial Intelligence in Retail Market to Retain Consumers
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1INNOVATION OF ARTIFICIAL INTELLIGENCE IN RETAIL MARKET
Executive Summary
This research work depicts the importance of innovation of Artificial intelligence in the retail
sectors for retaining consumers. From the operational and functional detail analysis report it is
found that, Artificial Intelligence (AI) gives positive work ambiance to the consumers and also
keeps the employees engaged to their job roles for the successful completion of the company
objectives. A detail research methodology is being followed in this research work by the
researcher for the successful completion of the research topic “Innovation of Artificial
Intelligence in Retail Market to Retain Consumers”. The decision making power of the
employees increase and in addition to this for the logistics and deliveries also AI gives positive
impact. Moreover, this research detail shows both the positive and negative impact of AI in retail
sector including its role in consumer retention.

2INNOVATION OF ARTIFICIAL INTELLIGENCE IN RETAIL MARKET
Table of Contents
Introduction......................................................................................................................................3
1.1 Research background.............................................................................................................4
1.2 Research objectives...............................................................................................................4
1.3 Research aim..........................................................................................................................4
1.4 Research questions.................................................................................................................5
2. Literature review..........................................................................................................................5
2.1 Overview................................................................................................................................5
2.2 Role of Artificial Intelligence (AI) in retails industry...........................................................6
2.3 AI revolution in the retail industry........................................................................................6
2.4 Role of Artificial Intelligence (AI) in logistics and delivery.................................................7
3. Methodology................................................................................................................................8
3.1 Research philosophy..............................................................................................................8
3.2 Research approach.................................................................................................................9
3.3 Research design.....................................................................................................................9
3.4 Data collection.....................................................................................................................10
3.5 Data techniques....................................................................................................................11
3.6 Ethical consideration...........................................................................................................11
3.7 Research limitation..............................................................................................................12
4. Findings.....................................................................................................................................13
Conclusion.....................................................................................................................................13
Recommendation...........................................................................................................................14
References......................................................................................................................................15

3INNOVATION OF ARTIFICIAL INTELLIGENCE IN RETAIL MARKET
Introduction
This research work is focused on innovation of artificial intelligence in the retails
industry and its positive impact for retaining the consumer. After analyzing the details
operational and functional details of this technology excellence it has been found that the
Artificial Intelligence plays active role in the retail industry and give high level opportunities to
both the consumers and the employees who are working for the specific company. This research
work elaborates and explores the emerging opportunities of Artificial Intelligence in the retail
industry.
Artificial Intelligence (AI) technology helps to discover new technologies from the visual
search to machine driven sales forecasting as well as and also helps to find out the way through
which the revolution is tied up with the retail industry success. Moreover, it can be said that
Artificial Intelligence is transforming the retail conversation. The research methodologies used to
successfully conduct the research work are also illustrated in this paper. Not only this but also
the research limitation and ethical considerations are also illustrated in this paper.
1.1 Research background
With the immediate innovation of Artificial intelligence (AI) it was applied in many
industries and simultaneously the application of the technology keep on increasing in retails
industries also to reduce the operational and functional errors (Gunning 2017). Over the last few
years this technology made certain amazing improvement in the retail sector. The application of
the Artificial Intelligence (AI) in the retail industry is keep on generating quite positive vibes
among the consumers and also among the employees. These days due to excessive external
frauds the retails industries are losing consumers but with the innovation of the Artificial
Intelligence (AI) the rate of the online frauds will reduce (Wang, Fan and Wang, 2018). Both the