Artificial intelligence (AI) is going to radically transform the retail sector and could result in the creation of new shopping channels, according to Doug Herrington, CEO of Worldwide Amazon Stores.
“We really haven’t had a technology revolution as large as this since the start of the internet,” Herrington told delegates at the National Retail Federation’s (NRF) Big Show.
He acknowledged that the shift to mobile and the rise of social media platforms were transformative, but both pale in comparison to the impact AI is going to have on the sector.
“It’s going to touch all of us. It’s going to lower costs, improve quality, help us develop new customer experiences, and it may even spawn new retail formats.”
This is an excerpt. Read my full article on Forbes.