77% of Retailers Rank Generative AI as the Most Impactful Emerging Technology

PYMNTS.com December 7, 2023

The rise of large language models (LLMs) such as ChatGPT has thrust generative artificial intelligence (AI) into the driver’s seat of retail technologies, prompting brands across industry subsegments to reassess their strategies. This development follows retailers’ yearslong efforts to leverage AI’s earlier iterations to support novel customer experience initiatives. However, the latest applications of the technology come with some significant caveats.

Generative AI can foster fraud, for example, not infrequently in the form of customer impersonations or fake websites. This highlights the need for greater consumer and retailer vigilance in the age of AI. Likewise, regulators should refine responses to its application to advance the retail technology stack in tandem with consumer protections.

The “Generative AI Tracker®” examines how integrating...

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