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ChatGPT is a good example of this kind of bias. Recent research shows that ChatGPT leans liberal, having picked up political biases from its training data. A separate study also revealed that ChatGPT showed gender bias in recommendation letters it wrote for hypothetical male and female job candidates. Though 67 percent of recruiters say that AI has improved the hiring process, another recent study found that AI-enabled recruitment, while not without its upsides, results in discriminatory hiring practices based on gender, race, color, and personality traits, according to an article in Humanities and Social Sciences Communications.

These issues reflect the biases of the humans behind the inputs that AI leverages. As Michele Goetz, vice president and principal analyst at Forrester, told BizTech, Youre addressing where human error comes in, because the training data you use could have human biases.

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When it comes to understanding consumer preferences, AI is like a meteorologist making a weather forecast. They both use data to make predictions as accurately as possible based on pattern recognition and other factors. This leads to predictions that are often (but not always) accurate. But while historical data points might not change, the variables of the present can, and these unexpected changes can lead to inaccuracies.

Its also worth noting that consumer behavior isnt limited to consumer preferences but is instead the result of a wide range of intangible factors. And while AI is especially helpful in assisting with decision-making when the factors involved are beyond human comprehension, AI notoriously fails in capturing or responding to intangible human factors that go into real-life decision making the ethical, moral and other human considerations that guide the course of business, life and society at large, notes the Harvard Business Review.

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Certainly, the size of a retailer will influence what kind of AI technologies it can implement. But just because a small or midsized business cant adopt AI technology at the same scale as a larger retailer, that doesnt mean that it shouldnt adopt AI at all. There are a wide range of accessible and scalable AI solutions including cloud-based ML tools that retailers can tailor to their unique needs and leverage to better achieve their business objectives in a competitive market.

Not sure how to get started with AI? Major technology brands such as CDW, IBM, Google, Microsoft and NVIDIA have a wide range of solutions to meet your needs. Dont hesitate to reach out and take advantage. No matter how big or small the business, AI adoption doesnt have to be a solo journey.

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Debunking The 4 Biggest Myths About Artificial Intelligence in Retail - BizTech Magazine