ML use cases in retail

The retail industry is a sector that sells consumer products directly to customers, either through physical retail stores or online platforms. Retailers acquire their merchandise from wholesale distributors or manufacturers directly. Over the years, the retail industry has undergone significant changes. The growth of e-commerce has outpaced that of traditional retail businesses, compelling brick-and-mortar stores to adapt and innovate in-store shopping experiences to remain competitive. Retailers are exploring new approaches to enhance the shopping experience across both online and physical channels. Recent developments such as social commerce, augmented reality, virtual assistant shopping, smart stores, and 1:1 personalization have become key differentiators in the retail industry.

The retail industry is currently undergoing a transformation fueled by AI and ML technologies. Retailers are utilizing these technologies to optimize inventory, predict consumer...