How retailers are leveraging AI chat
According to the 2024 Retail AI Chat Adoption Survey from conversational AI platform provider On, almost three in four (73%) surveyed C-suite executives from major U.S. retailers have already implemented AI chat at their companies and more than 70% plan to increase their AI investment in the next 12 months.
Common responses among surveyed executives who are not currently using AI chat was that they are either currently implementing it, looking for the right provider, or will be investing in AI chat in 2024. Almost 72% of respondents reported that they are planning for an increase in their AI implementation budget in 2024, and 75% have adapted their technology investments entering 2024 because of the emergence of AI.
The majority of respondents said that AI chat’s ability to answer support inquiries is the most important success metric for them. However, 25% of respondents highlighted conversions as the most important driver of success.
When asked what workflows they have applied AI chat to so far, respondents’ most common answers were personalized recommendations (33%), predictive analysis (29%), and guided selling (11%).
According to On projections, more than 90% of respondents will have adopted AI chat by February 2025.
The survey also asked respondents to share the percentage of all inbound inquiries that their AI chat is able to answer in real time without live agent intervention. The results indicate that 70% of respondents said their chat automates 40% of inquiries or fewer, with the largest share of responses falling between 30% and 40% automation.
Chain Store Age
Related news
Stylers: two out of three companies plan AI automation projects in 2025
AI, business intelligence and automation will be the most import…
Read more >Cost-consciousness and tech-openness – this is how Hungarians travel abroad this year, according to a Visa survey
36% of Hungarians plan to take a vacation abroad during…
Read more >Hungarian companies are already being attacked using AI
According to research by EY, AI has become one of…
Read more >Related news
Food Price Margin Reduction Extended Until the End of August
István Nagy, Hungary’s Minister of Agriculture, announced on his official…
Read more >Profitability of trade is decreasing – the government is opening up substantial resources
On May 28, Laurel Számítástechnikai Kft. held its 12th Retail…
Read more >Rules on meat products are getting stricter – a new concept is also included in the regulation
A new regulatory amendment has been proposed in Hungary: the…
Read more >