Deloitte AI Institute
The Consumer AI Dossier
Top uses for AI in the consumer industry — now and in the future
The state of AI in the consumer industry
The Consumer industry, as we view it, encompasses a wide range of businesses including Consumer Products, Retail, Automotive, Lodging, Restaurants, Travel, and Transportation. What these seemingly disparate businesses have in common is a strong and defining focus on serving customers – and a common set of current and future business issues they are trying to solve.
- What are the key business issues and opportunities?
- How can AI help to achieve a competitive advantage?
- How will AI impact the consumer industry's future?
of consumer c-suite executives agree that the deployment of AI can help improve customer care.
of consumer c-suite executives say that AI can greatly enhance inventory management by helping to effectively manage costs and buyers’ needs.
Facing the top obstacles
Most consumer-related companies are increasingly deploying artificial intelligence, yet many are still facing challenges in their AI initiatives:
- Moving from concept to scale: This is particularly difficult since many have large legacy data and analytics platforms, decentralized data and analytics operations, and (in many cases) decentralized authority and responsibility – whether across business units, or even more so, across independently operated franchises. This often leads to data being inconsistent, poor quality, and limited in usability, which is a big problem for AI systems, which tend to be extremely data-intensive (with the quality of the input having a direct impact on the quality of the output).
- Aligning and integrating AI across the business: Often, AI is used in isolated pockets of the organization – sometimes working with IT, sometimes not. However, in order to achieve the full benefits of AI at scale, an integrated business and technology plan (and case for change) is required.
- Continued lack of trust: There continues to be a lack of trust in AI and what it can and should be allowed to do. Tackling this issue requires a coordinated change management approach for communicating with leaders and teams and hearing/addressing their concerns. For businesses without direct control over this critical element, deploying AI at scale can be difficult to achieve.
of consumer-related business executives said they are likely to invest in AI and automation in customer interactions over the next two years.
Understanding what can be achieved by AI today
From increased efficiency and profits to improved decision-making, explore the way that consumer-facing businesses are harnessing the power of AI in our five use cases:
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