1 in 2 retailers in Asia-Pacific to leverage GenAI for content creation, cut costs by 2027. Generative AI is expected to drive efficiency, personalisation and business growth. Retail tools across the region will increasingly embed AI algorithms, with one-third of these utilising standalone or modular, agnostic AI models. 40 per cent of retailers will have reduced workforce costs by 2 per cent with embedded GenAI in fundamental business processes and tasks across business operations at corporate and in stores. The Asia- Pacific retail market is transforming significantly, driven by economic recovery, shifting consumer behaviours, and rapid digitalisation. IDC highlights other AI-driven predictions set to redefine the retail landscape, offering unprecedented opportunities for personalisation, efficiency, and growth,’ said the report. ‘2024 Global Retail Survey’ data highlights growing retailer optimism, fueling technology investments to enhance employee experience, streamline operations, and improve data utilisation, according to IDC’s report.
