Aim: This paper highlights the transformative influence of the integration of artificial intelligence (AI) and machine learning (ML) technologies on the retail landscape in India, focusing on their role in enhancing customer experiences, driving sales, and reshaping retail operations and raising awareness about the ethical considerations associated with the integration, for sustainable growth and customer trust.
Methodology: Systematic review research is conducted to
analyse and collect data from scholarly research databases and industry
analysis. Selected research papers and reports were scrutinized, and the
analysis considered their research design analysis, methodologies utilized, and
data sources, to provide a comprehensive overview of the use of AI and ML in
retail commerce.
Findings: The transformative capacity of Artificial
Intelligence (AI) and Machine Learning (ML) within the retail sector is
discussed in the findings. AI and ML technologies have a strong and deep
ability to enrich user experiences through personalized recommendations,
optimize inventory management, streamline supply chains, implement efficient
pricing strategies, and enhance consumer service. The study discusses the
limitations and scope for ethical considerations during the integration of AI
and ML within the retail landscape.
Conclusion: This study emphasizes the importance of AI and
ML in shaping the future scope of the retail landscape. By discussing the
disruptive potential, and ethical implications of AI and ML technology
integration, it provides invaluable insights to retailers, policymakers, and
industry stakeholders, urging them towards continued exploration and investment
in the retail ecosystem.
Author (s) Details
Lakshmi. H
Department of Management Studies, NITTE Meenakshi Institute of Technology,
Bangalore, India.
Keerthi H K
Department of Management Studies, NITTE Meenakshi Institute of Technology,
Bangalore, India.
Shilpa Ajay
Department of Management Studies, NITTE Meenakshi Institute of Technology,
Bangalore, India.
Please see the book here:- https://doi.org/10.9734/bpi/mono/978-93-48859-98-3/CH30
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