Application of artificial intelligence in retail

Authors

DOI:

https://doi.org/10.31617/2.2024(50)01

Keywords:

artificial intelligence (AI), information, digital transformation, retail, trading enterprise.

Abstract

In the context of the contemporary Industry 4.0 concept, artificial intelligence (AI) has become an integral component of human lifeʼs success, the impact of which is increa­singly difficult to overestimate today. With the advent of AI, the everyday life of individuals has noticeably transformed. Neural networks are capable of working in an algorithmic way, adapt, learn, and even generate new inven­tions within a short span of time. Since the concept of AI appeared, fervent debates have revolved around its advantages and opportu­nities for modern society, ethical frameworks of application, risks, and the negative impact of AI on various professional spheres. However, the revolutionary changes brought about by AI, enabling individuals to delegate routine tasks and freeing up time for creative endeavors, remain indisputable. Despite the high significance of previously conducted research, the state and potential opportunities of industrial application of AI remain insufficiently explored. The purpose of the study is to determine the current trends in the development of artificial intelligence, to assess the actual state of use and to justify recommendations for the future use of AI systems in the retail sector. It has been deter­mined that the introduction of AI technologies is a modern global trend and one of Ukraineʼs priorities. It has been proven that the complex realities of domestic retail development unveil opportunities for digital transformation and the intensification of AI implementation. The current state of AI development has been examined: the leading countries in artificial intelligence implementation have been identified, and the retail sector has been ranked fourth among industries with high potential for the application of advanced technologies. To gain an understanding of AI development in retail, a survey was conducted, the results of which delineated business processes where AI techno­logies are actually applied and specified the goals of their application. The priority opera­tional processes of retail enterprises for the implementation of advanced technologies have been identified and ranked by the significance of AI systems, which are most relevant to modern retail. A list of AI systems has been sorted according to their purpose and functional capa­bilities in retail.

Author Biographies

Nelya MYKYTENKO, State University of Trade and Economics

PhD (Economics), Associate Professor, Associate Professor at the Department of Management

Svitlana RZAIEVA, State University of Trade and Economics

 

PhD (Technical), Associate Professor, Associate Professor at the Department of Software Engineering and Cybersecurity

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Published

2024-06-12

How to Cite

MYKYTENKO, N., & RZAIEVA, S. (2024). Application of artificial intelligence in retail. NTERNATIONAL CIENTIFIC-RACTICAL OURNAL OMMODITIES ND ARKETS, 50(2), 4–20. https://doi.org/10.31617/2.2024(50)01