| | AUGUST 20188EVOLUTION OF RETAIL INDUSTRY BY ADOPTING DIGITAL TRANSFORMATIONBy Santosh K, CEO & Executive VP, Futurism TechnologiesTHOUGHT LEADERSHIPFuturism Technologies is a global technology services company which provides quality-focused solutions in Artificial Intelligence, Consulting, Analytics, Internet of Things (IoT), Quality Assurance & Testing and many more areas.I n the past few years, Digital Transformation has successful-ly maneuvered itself into the daily lives of people worldwide. Although their adaptations may largely vary across various spheres of our lives, the fact is, these dig-ital technologies have altered the way we view the world, interact with people, spend time, and shop. Adaptation of digital technolo-gies may differ across various in-dustry segments; some industry segments might use it to improve customer experience, whereas some may use it to improve their operational efficiencies. However, one of the industry segments that has been heavily influenced by digital technologies is the retail industry. Adaptation of these new digital practices has helped retail-ers to improve the customer expe-riences, as well as improve their operational efficiencies. Beginning of a New ParadigmThe adaptation of `smart devices & algorithms' has been a great re-lief for many retailers, who follow tedious traditional activities. For instance, grocery store checkout lines may soon be a thing of the past, if Amazon has its way. Such implementations will change the way we perceive retail in gener-al and online retail, in particular. Since the past few years, the retail sector has witnessed a paradigm shift in the buying and selling pro-cess, and consumers are already enjoying great shopping experi-ences due to the same. Artificial Intelligence Building Smarter MerchandiseTraditionally, retailers were depen-dent on personalized consumer ex-periences to drive sales and to get repeat customers. Although the purpose remains the same, now, AI is helping retailers to approach the right customers at the right
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