Istanbul hosted an event, Digital Retail Summit 2019, to discuss digital technologies, such as big data, internet of things (IoT) and artificial intelligence (AI), in the retail trade sector.

Several technology experts from local and international companies attended the event, organized by an information technology (IT) advisory firm International Data Corporation (IDC).

Ayse Kaptanoglu, IDC’s research manager, said over half of IT companies use IoT, AI, virtual reality and big data analytics.

AI raises companies’ incomes 20%, while IoT and real-time analysis increase customers’ satisfaction 15%, she stressed, adding that big data and AI reduce company losses 40%.

Read more: Turkey: Experts discuss digital strategies in retail