State of AI in Retail and CPG Survey Report 2024

This survey report presents findings on the state of artificial intelligence (AI) in the retail and consumer packaged goods (CPG) sectors for 2024. Conducted from June to September 2023, the survey gathered responses from over 400 professionals to assess the industry's attitude toward AI adoption, its impact, and the challenges faced. Key insights reveal that AI is perceived positively, with significant impacts on revenue and operational efficiency. The report highlights the growing importance of generative AI, with nearly 50 percent of respondents believing it will differentiate their market strategies. It also discusses omnichannel AI, identifying ecommerce as a primary channel for revenue growth. Despite the optimism, the report notes that the industry is still in early stages of AI adoption, facing challenges like inadequate technology and talent shortages. Investment levels in AI infrastructure remain low compared to overall capital expenditures, although many retailers plan to increase their investments in the coming months.