Indian retail: AI imperative to data-led disruptive growth

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Retail industry in India is one of the top five retail markets in the world by economic value. It is expected to double by 2024 and reach US$1.4 trillion. The industry is undergoing a significant transformation as a result of changing consumer behavior, growth of organized retail and entry of multiple global players. The objective of this report is to uncover the opportunities for retail enterprises by leveraging the potential of Artificial Intelligence (AI) - to survive and thrive in the digital era, specifically exploring the following questions:

Where should retail enterprises start their AI journey?
What are the provider and retail enterprise side dynamics in retail AI ecosystem?

How can retail enterprises move up the AI value curve?

Key Findings

Transformation of Retail in India with AI adoption

India retail growth story and impact of COVID-19
Transformation opportunity with AI – COVID and beyond
Journey of an intelligent retail enterprise
AI ecosystem in retail

AI journey for retail enterprises

Retail enterprises’ challenges across value chain
Starting the AI journey
Prioritizing AI opportunities

Provider and retail enterprise side dynamics in retail AI ecosystem

Provider view of AI ecosystem
- Provider perspective: Product technology companies
- Provider perspective: Technology service providers
- Provider perspective: AI start-ups
- Retail enterprises and provider collaborations
Retail enterprise: Perception of AI in retail

Traversing the AI maturity curve

Enterprise AI Adoption Maturity Model
Self-diagnostics tool to assess maturity
Strategic bold plays for enterprises

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