DataArt’s Post

Unlock the limitless potential of AI in retail! 🚀💡 Delve into the groundbreaking insights of Retail Cloud Alliance's latest report and uncover how AI is revolutionizing the retail industry. Explore how AI transforms customer experiences and streamlines supply chains, creating unparalleled and dynamic opportunities for growth. Download now to discover how leading brands are harnessing cutting-edge technology to reshape the way we shop and connect. #RETHINKRetail #RetailCloudAlliance #retailInnovation #AI #Retail #thoughtleadership #supplychains #retailtechnology #customerexperience

👚 🌐 How to make shopping more personalized and inclusive? Victoria’s Secret & Co. is embracing AI and generative AI in collaboration with Google Cloud to enhance the shopping experience for their diverse customer base. This partnership aims to bring the personal touch of in-store interactions to the online world, making shopping more inclusive and personalized. Key initiatives include a generative AI virtual assistant powered by Google Cloud's Vertex AI to provide tailored product recommendations and advice, mirroring the in-store customer service experience. Additionally, the company is improving product discovery on its digital platforms using Google Cloud’s Vertex AI Search, enabling more accurate and personalized product suggestions. They are also transforming product search with an AI-powered feature that allows customers to upload images for product recommendations, further simplifying the shopping process. https://lnkd.in/deC6ixRi #AI #CustomerExperience

Are you one of the 96% of Retailers that have made AI adoption a priority in the future? Check out this survey discussing how much game-changing AI is being utilized in the retail supply chain: https://ow.ly/w34650PVBRn The survey reveals how engaged your competitors are in leveraging the incredible potential of AI to optimize supply chains, boost efficiency, and improve customer experiences. But how can you harness this transformative technology? That's where Armeta comes in! Armeta's data engineers are your key to unlocking the true potential of AI in your retail operations. Our team of experts is dedicated to helping you seamlessly integrate AI solutions into your supply chain and operations - streamlining processes and boosting your bottom line. #AIinRetail #datatransformation #datacloud

🚀 Artificial Intelligence is revolutionizing the retail industry, unlocking a rich new world of possibilities! 🌟 I couldn't agree more with this insightful article on the transformative power of AI in retail business. Personalization, inventory management, and the overall shopping experience are being redefined with the help of AI technology. 👉 Read the full article here: https://lnkd.in/emK7M9G8 AI-powered personalization is becoming the norm, greeting customers at every turn and tailoring their shopping experience to their preferences. This not only enhances customer satisfaction but also boosts sales and customer loyalty. Moreover, AI is revolutionizing inventory management in retail. With its ability to analyze vast amounts of data, AI algorithms can predict demand, optimize stock levels, and minimize wastage. This not only saves costs but also ensures that customers find what they need when they need it. As a cloud solution architect in the retail industry, I've witnessed firsthand how AI is transforming the way businesses operate. It's an exciting time to be in retail, as AI unlocks a world of opportunities to provide better customer experiences and drive business growth. Let's embrace this technology and leverage its potential to create a truly remarkable retail experience! 💡 #AIinRetail #RetailTransformation #CustomerExperience #BusinessGrowth #ArtificialIntelligence

Don't miss out on the AI revolution! Our survey shows that many retailers are falling behind. Level up your operations and exceed customer expectations with Blue Yonder's AI solutions. #AIAdoption #RetailRevolution

Numerous studies demonstrate that GenAI capabilities are accelerating, and its impact is driving value across retail businesses. - McKinsey & Company reported that AI will create $400-660 billion in value for the retail and consumer goods industry. - FTI Consulting data shows that nearly 80% of online shoppers believe AI personalization can enhance their online experience. - Microsoft commissioned a study conducted by IDC shared that retailers average a return on investment of $3.50 for every $1, and 5% of companies realized an average return of $8 when they invest in AI capabilities.    Read Brandon's latest post #2 in a 4-part series to learn more about how GenAI capabilities can benefit your retail business.    #msftadvocate #MicrosoftCopilot #microsoft #Copilot #GenAI #AI #retail #commerce #frontlineretail #storeassociate #innovation

Don't miss out on the AI revolution! Our survey shows that many retailers are falling behind. Level up your operations and exceed customer expectations with Blue Yonder's AI solutions. #AIAdoption #RetailRevolution

#Retailers: If you're interested in how-best to adopt generative AI in the coming year, this article in Retail TouchPoints is a must-read: "In new research that Google Cloud led in the U.S. across retail C-suite executives, information technology leads and business development managers, we found that 81% of retail decision makers feel urgency to adopt generative AI technologies, with 72% ready to deploy generative AI in the coming year. But for many retailers, the question remains, “Where can this new technology best help my organization now?” Find out by reading the full piece here: https://ow.ly/EjOG50QqOi4 #AI #ArtificialIntelligence #GenerativeAI #Retail #Technology

We work a lot with businesses with over 1,000 SKUs in their catalog, and I often get the following question: how do we handle and optimize our inventory? Tackling the complexities of managing a vast inventory (>1,000 SKUs) is a colossal task, often presenting some intriguing challenges. I see these challenges as exciting puzzles waiting to be solved. Let's unpack the most significant issues and examine the AI-empowered solutions that we have at our disposal. 👇 ☠☠ Challenges for retailers with >1,000 SKUs: ☠ Data Integrity: Fragmented data across departments can lead to compromised inventory visibility and inaccurate forecasting. It's all too common to find broken or polluted data that hampers effective decision-making. 🕵️♂️ ☠ High Return Rates: Both return rates and canceled orders can significantly erode revenue and overall profitability. 💸 ☠ Limited Product Discovery: In most large catalogs, only about 20% of products get surfaced or explored, leaving a whopping 80% of inventory underexposed. 🏔️ ☠ Inventory Management: Ensuring the right stock levels, predicting future demand, and timely restocking is crucial to maintaining a healthy retail operation. ⏲️ ☠ Personalization at Scale: As personalized shopping experiences become the norm, developing individual strategies for thousands of SKUs becomes a challenge. 👤 ✨ ✨ Solutions you should focus on with AI ✨ ✨ ✨ Integrated Data Systems: bridge the data integrity gap, enabling more accurate inventory forecasting and enhanced visibility. ✨ Predictive Analytics: helps reduce return rates by predicting trends and adjusting operations accordingly. 🎯 ✨ Enhanced Product Discovery & Personalization: Advanced algorithms can bring underexposed catalog sections to the surface, leading to better product utilization while enabling individualized shopping experiences across a large range of SKUs. 🚀 ✨ Automated Inventory Management: one can automate reordering processes, minimize stockouts, and manage overstock scenarios efficiently. 💡 ✨ Generative AI: auto-tag, clean, and enrich product catalogs, leading to an effective and seamless product management system. 🤖 We're on the brink of an AI revolution in retail that can turn these challenges into unparalleled opportunities. Let's leverage the power of AI to tackle these hurdles head-on! 🌞💫 I'd love to hear about your experiences with these challenges and solutions. Let's keep the conversation alive! 💬 #AI #eCommerce #Retail #InventoryManagement #Merchandising #Personalization #GenerativeAI

Following up on last week's discussion about AI trends in the CPG sector, let's explore another transformative application: Demand Forecasting and Inventory Optimization. AI is revolutionizing demand forecasting and inventory management in CPG companies, enabling them to optimize operations, reduce costs, and meet consumer demands more effectively than ever before. Here's how AI is reshaping this critical aspect of the industry: Data-Driven Insights: By leveraging machine learning and predictive analytics, CPG companies gain valuable insights into future demand fluctuations, enabling them to make informed decisions and allocate resources efficiently. Real-Time Updates: AI-powered forecasting provides real-time insights by continuously analyzing data and adjusting forecasts in response to changing market conditions, consumer behavior, and other variables. This agility allows CPG companies to adapt quickly to unexpected events and market fluctuations, minimizing stockouts and overstock situations. Optimized Inventory Management: AI helps CPG companies optimize inventory levels by balancing supply and demand more effectively. By accurately predicting demand and lead times, AI algorithms enable companies to maintain optimal inventory levels, reducing carrying costs, minimizing wastage, and improving overall operational efficiency. Demand Sensing: AI-driven demand sensing capabilities enable CPG companies to detect and respond to changes in consumer demand at a granular level. By analyzing real-time data from multiple sources, including point-of-sale transactions, social media trends, and weather forecasts, AI algorithms can identify emerging demand patterns and adjust inventory levels and production schedules accordingly, ensuring products are available when and where consumers need them. Collaborative Planning: AI facilitates collaboration and information sharing across the supply chain, allowing CPG companies to work closely with suppliers, distributors, and retailers to align inventory levels and optimize the flow of goods. By sharing demand forecasts and inventory data in real-time, companies can reduce stockouts, improve order fulfillment rates, and enhance overall supply chain performance. AI is transforming demand forecasting and inventory optimization in the CPG sector, enabling companies to anticipate market trends, optimize inventory levels, and deliver superior customer experiences. By harnessing the power of AI-driven insights, CPG companies can gain a competitive edge, drive operational excellence, and unlock new opportunities for growth and innovation. #AI #CPG #DemandForecasting #InventoryOptimization #SupplyChain #globant #cpgindustry