Manufacturing conglomerate Honeywell released the results of its AI in Retail Survey on Jan. 9, which showed that 80% of retailers plan to increase use of AI across their operations.
Honeywell commissioned Wakefield Research to conduct the Honeywell AI in Retail Survey, which includes the Retail Executives and Retail Consumers surveys. The Retail Executives Survey polled 100 U.S. retail executives with VP level seniority and annual revenues of at least $100 million, while the Retail Consumer Survey surveyed 1,000 nationally representative U.S. adults.
Conducted from Dec. 2 to Dec. 8, Honeywell said that 35% of major retailers plan to significantly increase their AI investment.
Honeywell’s survey highlighted that retailers are leveraging AI to enhance employee skills and improve job experience. Honeywell found that over half of retail leaders believe AI boosts employee retention, with 52% noting it helps employees advance in their careers, develop soft skills and continually add value to their roles. Additionally, 61% of retail executives said that AI tools make employees’ jobs easier, while 55% reported an increase in job satisfaction.
“We are truly in the midst of a new era for the retail sector where evolving AI capabilities will make a positive impact on the shopper’s journey, the employee experience and the retailer’s supply chain operation,” Honeywell Productivity Solutions and Service President David Barker said in the release. “On their journey toward autonomous operations, retailers are looking for AI and automation solutions that provide actionable data and help to upskill their employees.”
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Furthermore, the survey showed that AI is improving the customer experience, both online and in-store. Honeywell’s findings revealed that 66% of consumers used AI while shopping, for tasks like asking questions via chatbots, comparing prices or reviewing customer feedback. The most popular AI use case was price comparison (53%), followed by checking product availability (41%) and enjoying a smoother checkout experience (34%).
To read more about the Honeywell AI in Retail Survey, click here.
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