Among AI-adopting retailers, 46% are using it to improve operations; 40.8% plan to within 3 monthsBy: Parcelhero The home delivery expert Parcelhero has just released its influential AI business report, 'Putting the AI in Supply ChAIns.' Parcelhero says it is no surprise retail is following hot on the heels of supply chain, logistics and manufacturing businesses in embracing AI. It says this new survey reveals the key areas where retailers plan to exploit AI's capabilities, and where it may impact jobs in the future. Parcelhero's Head of Consumer Research, David Jinks M.I.L.T., says: 'The latest ONS Business Insights survey reveals that the retail sector has taken the leap and is now as fully engaged in the AI revolution as the transport & storage and manufacturing sectors. 'As well as using AI to improve their business operations, 25.4% of retailers that are already using some form of artificial intelligence are using it to provide, or personalise, products or services to customers, and a further 21.9% plan to do so within the next three months. Additionally, 15.1% are using it to explore new markets and 12% to develop new products. 'One of the biggest questions facing retailers is whether to develop their own AI technologies in-house, or use an off-the-shelf solution. Only 5.9% of retailers now using AI have developed their own solutions, compared to, for example, 14.9% of manufacturers. By far the most popular AI investment choice is to purchase external software or ready-to-use solutions, such as SaaS programmes, for areas of their business such as fulfilment. In all, 41.3% of retailers have chosen this option. However, even more retailers (53.6% of those who are currently using some form of AI solution) are using free-to-use software. 'The question is no longer whether retailers should adopt AI. It has already arrived. The retailers that will lead their industries by 2030 are those investing in data quality, digital infrastructure and workforce capability today. The question is how quickly and how well companies respond. For many, the clock is already running.' You can read Parcelhero's new report on the impact of AI on retail supply chains at: https://www.parcelhero.com/ End
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