Why Accuracy in Natural Language Processing is Crucial to the Future of AI in Retail

By Madhu Mathihalli

More than ever before, artificial intelligence (AI) is being used as a way for people to communicate with brands. Retail companies in particular are turning to AI-powered chatbots as a critical part of their tech stack to deliver mass precision reach and a superior customer experience. In fact, retail is expected to overtake banking to become the industry leader for spending on AI, investing over $3.4 billion this year on a range of use cases, according to IDC. The opportunity for both e-commerce and brick-and-mortar retailers is to leverage these AI interfaces to offer 24/7 customer support, product recommendations, real-time query handling and order assistance. Read more