47% of consumer and retail companies already use AI for product manufacturing, according to Minsait

Minsait's Ascendant Report on AI shows that 20% of companies in the sector have incorporated it into their strategic plans 
Inteligencia artificial
Artificial intelligence
  1. A sustainable and more digitised future 
  2. Minsait's digital experience at the Retail Master Summit 2024 

20% of companies in the Consumer and Retail sector are already integrating AI into their business strategies. Digitalisation has become common practice in these organisations and artificial intelligence has been gaining ground since its rise in mid-2022.  

This is one of the main conclusions of the sectoral analysis dedicated to this market in the Ascendant report by Minsait (Indra) which, under the title "AI: X-ray of a revolution in progress", analyses its degree of adoption in private companies and public institutions.  

The study points out that the marketing and sales areas are leading the integration of AI in Consumer and Retail companies, fostering a culture of reinvention and transformation within the sector. In terms of motivations for adoption, 77% of respondents highlighted improved efficiency and optimisation of internal processes. 

These companies are focusing their efforts on industry-specific use cases, such as inventory management and sourcing (58%), product production and manufacturing (47%), or improving in-store efficiency and customer experience.  

In addition, to address the most important challenges - privacy and cybersecurity - companies are opting to use AI-based tools provided by third parties to strengthen the area of risk management and cybersecurity (33%). 

A sustainable and more digitised future 

In the long term, the consumer and retail market is moving towards a future where online and physical channels will become more interconnected. According to the report IA, radiography of a revolution in progress, this trend is favoured by the expansion of ecommerce and investment in technologies such as augmented reality, AI or personalisation to improve the shopping experience.  

Likewise, and in the face of increasing consumer environmental awareness, companies are prioritising sustainability by integrating more environmentally friendly business practices throughout their production process. 

Arancha Pérez-Navarro, Director of Retail, Consumer and Pharma at Minsait, explains that the sector "has responded to the new macroeconomic outlook by accelerating its digital transformation process in order to respond to the demands of an increasingly digitised consumer. This commitment puts convenience, security and an improved and personalised customer experience at the centre". 

Minsait's digital experience at the Retail Master Summit 2024 

Minsait is involved in improving the customer experience in the Retail sector through the integration of innovative solutions from its main partners and enablers of digital transformation. Its Director of Retail, Consumer & Pharma, Arancha Pérez-Navarro, highlights the fundamental role that new technologies play in the evolution and growth of this market, which is increasingly hyper-personalised and demanded by an increasingly digital customer. "Throughout the entire sales value chain in this sector," she says, "it is vital to have the most relevant technological partners, who have the knowledge and experience in the latest technological trends in phygital and who ensure this journey towards digitisation in a tangible way".  

This Tuesday, 21 May, Pérez-Navarro will attend the Retail Master Summit 2024, the first meeting of retail professionals from Latin America and Europe, to present Minsait's latest innovations in the market. The event will be held at the RIU Hotel in Madrid and will serve as a showcase to display, in a single space, the knowledge and experience of professionals from companies in the Retail sector through a phygital shop model.  

Some of the solutions have been implemented by Minsait with the help of its technology partners, such as the phygital shopping basket, the smart mirror that provides access to the shop's products from the fitting room itself, the recommerce solution that makes it possible to recover, manage and resell second-hand inventory through a digital screen, or the alarming and disarming of garments through RFID thread technology. The latter solution, one of the most eye-catching proposals, enables garments to be alarmed discreetly, with total security and without damaging fabrics.