Most retailers, 98%, plan to have a full AI deployment effort in place by 2027 and at the same time consumers are increasingly pushing for more transparency of AI.

Those are findings from a Everseen Report, “The Future of AI in Retail,” that polled 200 loss prevention retail leaders and more than 1,000 U.S. consumers about the role of AI in retail and shopper interactions, according to a press release.

Additional findings include:

• Nearly two-thirds (63%) of retailers say AI is critical to maintaining a competitive edge, and they expect an average 51% return on investment from AI deployments within the first three years.
• More than half (55%) of consumers are comfortable with AI and advanced retail technology, and nearly two-thirds (65%) say AI makes shopping more convenient.
• 85% of consumers believe theft contributes to higher prices, and a majority of retailers (60%) have already turned to AI to address the issue.
• 72% of consumers want greater transparency about AI use in grocery and retail stores. Retailers are already using multiple disclosure methods, including signage at entrances (44%), which 64% of consumers find helpful. Half of consumers also cite self-checkout pop-ups as effective.

“AI is already transforming retail — driving efficiency, reducing shrink and enhancing customer experiences,” Alan O’Herlihy, CEO of Everseen, said in the release. “It’s encouraging to see the shared perspective of consumers and retailers on how AI can improve the shopping experience. The insights from this report can help the industry align on key success factors for AI, including measurable impacts on shrink reduction and the importance of transparency.”