ARTIFICIAL INTELLIGENCE IN RETAIL – BENEFITS AND RISKS

Violeta Galabova ()
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Violeta Galabova: University of national and world economy – Sofia

Conferences of the department "Economics and Management of Trade", 2023, issue 1, 222-229

Abstract: Today retail is among the leaders in the application of artificial intelligence with dynamic changes in operations and in the technology-customer interface. Supply chains are being modified, commercial operations are being streamlined, large databases are being used, and the personalization of customer service is increasing. In addition, the use of artificial intelligence in retail also poses significant risks, such as change of job positions, misuse of personal data, limitation of ideas within algorithmic solutions from data analysis, and other consequences. A thoughtful and responsible use of AI is needed so that retail transformation occurs with increased efficiency and consumer experiences while minimizing negative side effects.

Keywords: Retail Trade; Artificial Intelligence (search for similar items in EconPapers)
JEL-codes: L81 O33 (search for similar items in EconPapers)
Date: 2023
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