AI has long been used as a tool to enhance and extend the in-store experience. But in the age of COVID, retailers have to find ways to keep store visits as short as possible, and in some cases eliminate them altogether. Fortunately, AI can help here, too. As retailers become more dependent on apps and websites, AI algorithms can help make products more discoverable, recommendations more relevant, online shopping more streamlined, and digital experiences more engaging.
Jake Moskowitz and his guests discuss the impact that AI has on retail, and what determines the winners and losers in terms of leveraging AI in retail environments.
The first step is understanding what AI is — and what it’s not. Jason Goldberg, Chief Commerce Strategy Officer at Publicis, explains that AI is not an outcome, it’s a tactic. He helps his clients see the difference, prioritize the outcome they want, then decide if AI is the right tactic to help them achieve it.
Guru Hariharan, CEO and founder of CommerceIQ, breaks down how AI is changing the world of retail, and the ways that it democratizes and creates efficiencies in the way we shop.
Listen as Jake and his guests cover the five steps to bringing AI tactics to retail and explore how AI is changing the customer experience, how data — what you get and the permissions you have to use it — is the most valuable piece of the puzzle, and how AI is changing the way we think about who we hire and how fast we really need to work.
The Five List
Here are five steps to incorporating AI in retail.
- Start with great data
- Operationalize your data
- Enable Agility (People and Processes)
- Incorporate AI as Analytics 2.0
The Five podcast is presented by Ericsson Emodo and the Emodo Institute, and features original music by Dyaphonic and the Small Town Symphonette. Social media and promotional content was composed and conducted by Lyon Solntsev. This episode was edited by Justin Newton and produced by Robert Haskitt, Liz Wynnemer, and Jake Moskowitz.