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Artificial Intelligence In Retail €“ Benefits And Risks

Author

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  • Violeta Galabova

    (University of national and world economy – Sofia)

Abstract

Today retail is among the leaders in the application of artificial intelligence with dynamic changes in operations and in the technology-customer interface. Supply chains are being modified, commercial operations are being streamlined, large databases are being used, and the personalization of customer service is increasing. In addition, the use of artificial intelligence in retail also poses significant risks, such as change of job positions, misuse of personal data, limitation of ideas within algorithmic solutions from data analysis, and other consequences. A thoughtful and responsible use of AI is needed so that retail transformation occurs with increased efficiency and consumer experiences while minimizing negative side effects.

Suggested Citation

  • Violeta Galabova, 2023. "Artificial Intelligence In Retail €“ Benefits And Risks," Conferences of the department "Economics and Management of Trade", Publishing house "Science and Economics" Varna, issue 1, pages 222-229.
    • Handle: RePEc:vrn:commdh:y:2023:i:1:p:222-229
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    More about this item

    Keywords

    Retail Trade; Artificial Intelligence;

    JEL classification:

    • L81 - Industrial Organization - - Industry Studies: Services - - - Retail and Wholesale Trade; e-Commerce
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

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