Focus on the Potential
In the highly competitive world of retail, everyone looks for the slightest advantage to get ahead. That's why there's such a huge focus now on the potential of artificial intelligence. How can we use it? What disruption will it bring? The reality is we are just at the beginning of the AI revolution, and we don't know all the ways it will shape the future of retail just yet. However, retailers should be thinking hard about how to leverage it—with both the tools available now and those coming in the future.
AI gives retailers incredible new ways to leverage customer behavior data, improve workflows, optimize supply chains, accurately predict seasonal demand, and more. The challenge is separating AI hype from genuine AI value, and it's such a new technology that many retailers don't have enough expertise to do that. Companies must also think about digital infrastructure and security. Do you have the horsepower to run AI solutions, and how will proprietary data be used and protected?
