E-commerce companies are focusing on artificial intelligence (AI) and virtual reality with a view to cut logistics costs and identify fraudulent orders, said a report by global auditing and consulting firm PwC.
With an emerging middle-class population of more than 500 million and approximately 65% of the population aged 35 or below, India represents a highly aspirational consumer market for retailers across the globe, said the PwC TechWorld report.
“E-commerce players are revamping their technology strategies to maintain their competitive edge. Most e-commerce platforms are upping their investments in areas such as conversational commerce, artificial intelligence (AI), virtual reality (VR)/augmented reality (AR) and analytics technologies,” it said.
AI can bring transparency and visibility to supply chains
E-commerce companies are focusing on artificial intelligence (AI) and virtual reality with a view to cut logistics costs and identify fraudulent orders, said a report by global auditing and consulting firm PwC.
With an emerging middle-class population of more than 500 million and approximately 65% of the population aged 35 or below, India represents a highly aspirational consumer market for retailers across the globe, said the PwC TechWorld report.
“E-commerce players are revamping their technology strategies to maintain their competitive edge. Most e-commerce platforms are upping their investments in areas such as conversational commerce, artificial intelligence (AI), virtual reality (VR)/augmented reality (AR) and analytics technologies,” it said.
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