No doubt, that retail industry is climbing new ladders of success as the time is surpassing because the customer base of retail business is tremendous.

In retail stores, you will find the basic products that are related to our daily life including grocery, food, fruits, kitchen appliances, electronics, apparel, vegetables, jewelry etc.

If we talk about India, then it is the 5th fastest growing retail hub in the world.

Retail industry contributes almost 10 % in the GDP of the country, which means that it has a vital role in the economic growth of India.

The retail e-commerce business will touch the mark of 700 billion by 2020.

You can tell your customer to send SMS to with promo code and get the appropriate discount, in this way; you will get their contact number.

ShopTalk is one of the most exciting events of the year that gather retailers from various industries.The event attracts established retailers and brands, tech startups, large tech and internet companies, venture capital investors, real estate developers, equity analysts, media, and others.This is an event to learn and network to create a fruitful future of the retail industry.If you are planning to be a part of the ShopTalk 2020, then here is a list of things you must remember.Understand What the Event has to OfferShopTalk is known to have attracted more than 8500 individuals from across various industries, and more than 3000 retail professionals.

The event spans across 4 days which is filled with curated meetings, productive networking opportunities, and numerous social engagement opportunities.

Engage with Decision MakersShopTalk speakers are industry experts, innovators, and retail professionals.

With these kinds of experts being present at the event, you must be interacting with them as much as possible.There are mostly CEOs and founders of established brands, who have plenty of insights to share.

Hence, you must not miss out on any opportunity in interacting with some of the bright minds of the industry.Plan the VisitShopTalk 2020 will host around 600 companies’ exhibits and curate nearly 10,000 onsite meetings.

This is a lot to cover in just 4 days.Hence, plan to visit well.

   Artificial intelligence is the hottest and most promising development in the tech landscape for years.

According to the market firm, global AI revenues increased from $ 643.7 million in 2016 to $ 36.8 billion in 2025.Practically all market shares, industries, and business domains are actively interested in AI and are looking to use technology for business purposes.

It authorizes AI companies to reduce costs and make the shopping experience more enjoyable and efficient for end-users.

Obviously, how can the retail sector get away with good technology?Retail-AI SyndicateAccording to Global firm Insights, investments in AI by the retail sector will exceed $ 8 billion by 2024.

As more and more applications for machine learning, predictive analytics, and deep learning technologies have experimented with success, the digital disruption in the retail sector is happening at a rapid pace.To read about: Artificial Intelligence In Retail Sales and CRMGlobally, AI experts believe that technology provides a wide range of applications to the retail sector.

In the coming year, retail will see a greater infusion of AI-based solutions into daily operations.

Artificial intelligence is the hottest and most promising development in the tech landscape for years.

According to the market, global Artificial Intelligence revenues increased from $ 643.7 million in 2016 to $ 36.8 billion in 2025.Almost all market segments, industries, and business domains are actively interested in AI and are looking to use technology for business purposes.It empowers AI companies to reduce costs and make the shopping experience more enjoyable and efficient for end-users.

Obviously, how does the retail sector getaway with good technology?Also read: Top Use Cases of Artificial Intelligence in Retail IndustryThe Retail-AI SyndicateAccording to the Global Market, investments in Artificial Intelligence in retail markets will exceed USD 8 billion by 2024.

In the coming year, retail will see a greater infusion of AI-based solutions in day-to-day operations.

AI can draw meaningful conclusions from massive amounts of data and help companies create personalized shopping experiences through highly-structured websites, intelligent in-store bots, and online chatbots.

Also, stores can gather in-depth insights into consumer behavior, optimizing their product portfolio for better retail experience delivery.Virtual Trial Rooms for Swift Decision MakingWhile shopping for a new dress or apparel, trying out different options can get quite frustrating and time-consuming.

This is one reason America produced 16 million tons of textile waste in 2014.Also Read: What Artificial Intelligence Can Do For Retail Industry?This is not due to a lack of any purpose or effort in the industry; Instead, it is difficult to understand customers at scale.

Categorizing customers with broad brush definitions of age, gender, and income is not only effective in terms of diverse and ever-changing consumer preferences, and retailers now have to look at pretty much all market segments — even for single people.

Consumers tend to be more up-to-date than merchants define them, and this is coupled with a lot more experimentation and disruption in the market.In order to create and sell the “next big thing” in such a dynamic environment, designers, buyers, and merchants must use their own creativity, but with unprecedented granularity, consider how consumer preferences are changing and the different design, merchandising and marketing options.

Over time she has little visibility into how consumer preferences in stores are changing and how competitive products work in the market.Incorporate a natural language text of millions of online customer reviews and an AI-based system that can analyze all the products on the market to capture key relationships between location-specific customer sentiment and product features.

Such information for products on her market and for new planned products can help improve her assortment, pricing and markdown, and marketing plans.Similarly, consider a sales manager for a yogurt brand.

The new capabilities use AI and automation to fuse these structured and unstructured datasets around semantic, visual, and location contexts and uncover insights into customer preferences hidden in this fused data.

The idea that both computers or software programs can learn and make decisions is very important and is important for us to know as their processes grow exponentially over time.

Because of these two skills, AI systems can now accomplish many tasks that were once assigned to humans.Over the past few years, AI technology has been booming.

AI-based systems can now help humans benefit from significant improvements and increased efficiency in every area of life.As the development of AI continues to grow, it will change our way of life and work more and more.Now, let’s look at which areas of AI will have a huge impact in 2020.Also Read: Top 46 Artificial Intelligence Companies You Must Know in 2020AI in RetailIn recent years, technology has played a key role in the retail business, as e-commerce solutions have been developed and small, local stores that lack effective online strategies have been forced out of business.In fact, the U.S.

In 2015, the bankruptcy of retail stores increased significantly from 2015 to 2019, 81 large retail companies filed for bankruptcy.Amazon is a strong player in the online retail market, but it has begun to enter physical retail stores using new models that incorporate artificial intelligence technologies.Over the next few years, we will see grocery stores offering a blend of automated technology, and a few human helpers to make sure everything runs smoothly for shoppers.Along with automated payment systems and robots, biometrics is another way that AI can change the retail store management process.

Currently, biometric technologies are mainly used to scan fingerprints on mobile phones and airports.However, facial recognition tools are gaining momentum in the market and will be implemented in stores in the future, when you examine different products you will analyze your facial expressions and create personalized promotions based on sensor observations.Also Read: What Artificial Intelligence Can Do For Retail Industry?Robotic Process AutomationAutomation, Employment, and Productivity Report, based on some expert's study, predicts that by 2055 half of our work will be done by a robot.

This includes jobs in the health care and financial industries, both of which rely on analytics and trends.In finance, the American investment bank Goldman Sachs Group, which once hired 600 merchants in its New York office, now performs the same tasks with only two human traders and a range of AI tools.Also Read: Do You Know The Difference Between Data Analytics & Machine Learning?AI will make healthcare more accurateThe contributions that artificial intelligence brings to the health care industry will change how the medical profession works in groundbreaking ways, enabling people around the world to find safe and effective care and make it easier to prevent and cure diseases.Traditionally, the analysis of health records, medical literature, and historical trends is very time consuming, but these types of tasks are perfectly suited to AI tools.In 2014, Google acquired DeepMind, an AI lab based in the UK, another AI-based assistant used in health care.