In this week's Tech Tuesdays column, Coresight Research estimates the growth of retail investment in gen AI.
Share this article on TalkThe firm said in the report, titled “AI and Unified Data: Empowering Next-Generation Product and Shopper Intelligence,” that the combined market for GenAI hardware and applications “totals $79.8 billion in 2024 — and it will grow quickly over the next few years, to $235.5 billion in 2028.”Authors of the report also said the AI applications segment, including GenAI models, “is set to grow 4.
“This index is a crucial benchmark for retailers to understand where they stand and what steps they need to take to enhance their customer engagement strategies,” Weinand added. Apparel and footwear retailers “are at the forefront of customer interaction by effectively utilizing text messaging, voice communication, and an omnichannel live chat experience to enhance customer engagement significantly,” the report noted.
Durbin said that at Talkdesk, “we are proud to support this transformation with AI-powered customer experience solutions that help retailers keep pace with changing consumer behaviors and set new customer engagement and loyalty standards.”Jumpmind Inc., a provider of retail technology arena, said it is expanding via the launch of Jumpmind U.K. and Jumpmind Ireland. These new operations aim to cater to the company’s expanding clientele across the U.K.
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