Leveraging AI Technologies in Retail in a Resilient Economy: Theory and Innovative Practices

Abstract

Artificial Intelligence (AI) technologies have a profoundly significant impact on businesses, particularly on retail in a resilient economy. Drawing from existing research and determined specifics of retailing, particularly in the context of innovative practices, the purpose of the current study is to ascertain the extent to which AI technologies contribute to innovation in retail within a resilient economy. This involves identifying and comparing their applications in both theory and practice. The theoretical foundation was formed by published articles in the SCOPUS database and from the Financial Times 50 list of the leading academic journals in business and management. Obviously, these articles have explicitly demonstrated how AI technologies (Big Data Analytics, Machine and Deep Learning, NLP, Robotics, and Neural Networks) accelerate retailer’s strategic development and increase their effectiveness, e.g., rationally changing the concept of management and consequently transforming types of interaction with customers, as well as contributing to the creation of unique customer value, with a strong emphasis on feelings and emotional aspects. By analyzing and interpreting the obtained findings and practical implications of AI technologies in a resilient economy, the specific avenues for future research are outlined. [ABSTRACT FROM AUTHOR]