The report highlights the significant transformation and potential economic benefits AI technologies, particularly Generative AI, could bring to the retail sector. The recent years have seen dramatic shifts in retail due to various global events, leading to increased reliance on e-commerce and digital technologies. AI and Machine Learning (ML) are poised to revolutionize retail by enhancing operations, from personalized customer recommendations to inventory management. The report identifies Generative AI as a game-changer, potentially disrupting the retail landscape by creating unique product designs and improving productivity. It forecasts a $9.2 trillion global economic impact by 2029, with AI adoption offering a competitive edge but requiring clean, accurate data for effectiveness.

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