Reported 8 months ago
AI is becoming an integral part of consumers' lives, specifically in retail and consumption areas, with McKinsey's latest report indicating that AI will create an additional value of $400-660 billion for the retail and consumer goods industry. Investment in AI in the retail sector is expected to bring a return of $3.45 for every $1 invested, reflecting the trend towards AI integration. Recommending gradual deployment in AI themes, it suggests seizing the bullish trend in the US stock market in the second half of the year. Various applications of AI such as personalized recommendation systems, smart supply chain management, automated customer service, dynamic pricing optimization, and emerging retail models are transforming the retail industry worldwide, with Market.Us estimating the global AI market size for retail to reach $127.2 billion by 2033, growing at a CAGR of 29.9%. With AI driving the market along with other industries like healthcare and non-core consumption, profits are on the rise, and investors are advised to capitalize on market pullbacks to navigate the bullish trend in the US stock market in the second half of the year.
Source: YAHOO