AI leading the retail tech charge, claims report
Artificial intelligence is the focus of the most pilots and leading the technology pack when it comes to future adoption, according to a survey conducted by Incisiv in collaboration with Microsoft.
The research, released by JDA Software, reveals retail leaders expect a five-fold increase in the technology over the next two years.
Yet the 2019 Retail C-Suite Viewpoint Survey also reports the retail C-suite is struggling with digital transformation challenges, including resistance to change in the organization, according to a press release.
“As consumer expectations increasingly cut across formats, the store shelf has extended from a physical object to the entire supply chain,” said JoAnn Martin, vice president, retail strategy, JDA, in the release. “The C-suite recognizes that expanding fulfillment options to improve customer experiences and support the ‘anywhere shelf’ is critical to survival and growth, but our survey shows their digital supply chain capabilities may be severely under-prepared for this change.”
According to the survey, 78 percent polled do not have a real-time view of inventory across channels, and half believe they do not have the right platforms and tools in place to support expanded fulfillment options. In addition, retailers still do not have a single source of truth for their data nor the human capital to derive insights, and nearly half (46 percent) do not trust their data.