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But even with the myriad benefits of AI, it does have noteworthy disadvantages when compared to traditional programming methods. AIdevelopment and deployment can come with data privacy concerns, job displacements and cybersecurity risks, not to mention the massive technical undertaking of ensuring AI systems behave as intended.
Developments like intelligent display ads, endless aisle kiosks, advanced inventory control, and smart checkout are some of the key applications of AI in retail. Key Updates on AIDevelopment: A study by Accenture found that retailers using AI can expect to see an average increase in sales of up to 35%.
For instance, the report predicts that businesses will start including emotional-AI-related legal protections in their terms and conditions with the healthcare sector expected to start making these updates within the next two years. Without governance, AI initiatives risk becoming fragmented, unaccountable, or outright dangerous.
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