Use cases in retail
Let’s consider some individual use cases that convey the importance of these aspects.
Privacy in the retail industry
Retailers should proactively protect their customers’ sensitive data by complying with legislation governing data privacy and security, such as the European Union’s General Data Protection Regulation (GDPR). There are other legislations that retailers must comply with globally, to protect consumers. This includes the Electronic Commerce Regulations of 2002, Payment Card Industry Data Security Standards, and antispam laws, among the many other rules globally. To safeguard customers’ data, some of the best security practices involve installing firewall services, mandating two-factor authentication, and other security practices detailed in Chapter 2, Emergence of Risk-Averse Methodologies and Frameworks.
Fairness in the retail industry
In the retail industry, it has been observed that AI-driven solutions often...