A recent study by Tata Consultancy Services (TCS), titled "TCS Global Retail Outlook 2026," reveals that while retailers recognize AI as a key enabler, significant gaps exist in its large-scale deployment. The study, based on responses from over 800 senior retail executives across 18 countries, indicates that 85% of retailers have not yet begun implementing or planning for multi-agent AI systems, with only 24% currently using AI for autonomous decision-making. Most retailers (51%) are focusing on basic AI technologies like chatbots and virtual assistants, suggesting a superficial adoption of advanced AI capabilities. AI-powered technologies are considered essential for 2026, ranking second only to cost optimization, particularly for sensing market changes and competitor movements in real-time. However, a significant challenge identified is the workforce skills gap, second only to financial pressures. The study highlights that only 33% of retailers see digital literacy programs as a path to organizational transformation and talent upskilling, and fewer than half are effectively using loyalty insights for strategic decision-making in areas like channel experience, pricing, or assortment planning. Krishnan Ramanujan, President of TCS's Consumer Business Group, stated that retailers are aware of AI's potential but have only "scratched the surface." He emphasized the need to move from isolated experiments to pervasive intelligence embedded across the value chain. TCS aims to address these gaps with AI-led solutions to foster growth through its "Perceptive Retail™" vision, which integrates AI, machine learning, and multi-agent systems. Cheenttan Voraa, Global Head of Retail Consulting at TCS, added that the sector is at a crossroads, requiring investments in technology, AI-savvy talent, and improved operating models to advance towards true enterprise intelligence.
