No AI could mean loss of consumers

AI is a must in customer experience personalization. (Vladgrin/Shutterstock)

Two-thirds of senior IT decision-makers believe that retailers that fail to adopt artificial intelligence (AI) will lose their competitive edge. In new global research by Feefo, a customer insights company, almost all of these IT respondents, 96%, also say that AI will have a positive effect on customer engagement. 

In addition, 45% of those surveyed believe that AI can make the biggest gains in a company's efforts to provide personalization to consumers. 

Currently, more than half, 61%, of IT leaders are using AI for customer service analysis and intervention, and 46% plan to use AI to provide summaries of online reviews. About 42% of IT chiefs selected chatbots as the AI technology they are currently using or planning to use. 

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Matt West, CMO at Feefo, says that any retailers serious about personalization need to use AI. 

“It’s encouraging that this message is getting through, but we need to see a lot more businesses actually using AI to transform the way they personalize their interactions with customers," he said. 

The survey did show that how IT chiefs measure the success of AI in customer engagement varies by sectors. For example, 50% of those working in wholesale and retail are using artificial intelligence to get better customer retention (versus 31% on average). And 67% of those working in the professional, scientific and technical sectors are using AI to increase rates of customer satisfaction.