Kore.ai’s Post

Back from a great week in Singapore catching up with industry leaders, clients and friends at the eTail Asia & Australia conference. The insights shared on the opportunities and challenges in retail were invaluable. Below are some of the key takeaways, which are very much in line with what we are seeing in the field. As Sandeep Varaganti, CEO of Jiomart, and the panelists highlighted, in today’s competitive retail market, the consumer is spoilt for choice. They have become accustomed to high standards: - convenience (availability and accessibility, wherever the customer is) - rich experiences (to be entertained or educated) - personalisation and trust (personalised buying experience while upholding transparent data privacy standards) - quality and value (higher quality at lower prices) As expected, technology, particularly AI, was a key theme at the conference, as a means to adapt and stay ahead of the market. Many of the discussions revolved around how to utilise AI and data to improve every aspect of business: - forecast and drive sales - personalise marketing - improve customer experience - optimise operations, supply chain and fulfillment Examples ranged from using weather data as one data-point to support sales forecasting or software built to support Beauty Advisors in-store (Danny Ho Sa Sa Executive Director & CFO), to in-store facial recognition for automatic payments (Danni Peirce 7 Eleven CEO), to IoT and AI to run efficient store operations, freeing up staff to focus on their internal and external customers (Denise Gamo-Halaguena, PMP Mcdonalds Head of Digital Acceleration). It is exciting the amount of value that can be created for a business and their customers when the right tech is leveraged and executed successfully. Would love to hear in the comments your takeaways from eTail, or from your own experiences rolling out tech for your business. If you would like to discuss technology for retail in the APAC region, DM me and we can have chat. Revieve #eTail #AI #technology #retail #ecommerce #RetailInnovation

As retail undergoes a significant transformation in response to evolving consumer preferences, GenAI and Global Capability Centers (GCCs) are forging a powerful alliance. In the retail sector, the value of GenAI has already begun to show. Companies are leveraging GenAI to enable and enhance use cases in relevant domains. From personalized customer experiences and demand forecasting to supply chain optimization and trend prediction, the potential is immense. The adoption of GenAI in Retail is likely to follow an S-curve. Read more on this in the ANSR Quarterly GCC report. Download Report 👉 https://bit.ly/3Q2xjCh #Retail #GlobalCapabilityCenters #GenAI

As retail undergoes a significant transformation in response to the evolving consumer preferences, GenAI and Global Capability Centers (GCCs) are forging a powerful alliance. In the retail sector, the value of GenAI has already begun to show. Companies are leveraging GenAI to enable and enhance use cases in relevant domains. From personalized customer experiences and demand forecasting to supply chain optimization and trend prediction, the potential is immense. The adoption of GenAI in Retail is likely to follow an S-curve. Download our eBook to take a deep dive into the subject - Reshaping Retail: How GCCs Can Ignite GenAI-Driven Innovation. 👉https://lnkd.in/dsh8Npbt #genai #retail #GCCs

Reflecting on an Enlightening Week at the Malaysia Retail Association Conference 2024 Last week, I had the privilege of attending the Malaysia Retail Association Conference, and it was truly an eye-opening experience! 🎉 The sessions on how digital transformation is revolutionizing the retail industry were particularly fascinating. It's amazing to see how technology is reshaping the way we do business. Here are a few highlights: 1. Embracing Digital: The emphasis on integrating digital solutions into retail operations is stronger than ever. From e-commerce platforms to digital payment systems, the future is definitely online. 2. AI in Retail: The potential of AI in retail is immense. We explored how AI can enhance customer experience, streamline inventory management, and even predict consumer behavior. It's clear that AI isn't just a buzzword – it's a game-changer. 3. Customer-Centric Approaches: Many speakers stressed the importance of understanding and anticipating customer needs. With tools like big data analytics and AI, retailers can now offer personalized experiences like never before. 4. Sustainability and Innovation: Another key topic was the role of innovation in promoting sustainability. From eco-friendly packaging to energy-efficient store designs, the retail industry is making strides towards a greener future. I left the conference with a renewed sense of excitement and inspiration. The retail landscape is evolving rapidly, and staying ahead means continuously learning and adapting. A big thank you to the Malaysia Retail Association for organizing such a fantastic event! Looking forward to implementing some of these insights in my work. 🚀 #MalaysiaRetailConference2024 #DigitalTransformation #AIinRetail #Sustainability #RetailInnovation #LearningAndGrowing

As retail undergoes a significant transformation in response to evolving consumer preferences, GenAI and Global Capability Centers (GCCs) are forging a powerful alliance. In the retail sector, the value of GenAI has already begun to show. Companies are leveraging GenAI to enable and enhance use cases in relevant domains. From personalized customer experiences and demand forecasting to supply chain optimization and trend prediction, the potential is immense. Download our eBook to dive deeply into the subject - Reshaping Retail: How GCCs Can Ignite GenAI-Driven Innovation. 👉https://lnkd.in/dsh8Npbt #genai #retail #GCCs

"Our strategy is to be people-led and tech-powered. Tech should be here to support the associates and their interactions with customers.” - Michon Williams, Chief Technology Officer, Walmart Canada. Whether its replenishing inventory, picking products, or accessing product information faster, we’re empowering our associates through technology and making it easier for them to serve our customers. Walmart Canada’s Chief Technology Officer, Michon Williams sat down for an interview with Canadian Grocer to explain some of the ways we’re embracing technology to transform our business, empower our associates and make it more convenient for customers to shop. Read more on Michon’s thoughts on how we can embrace AI and automation in retail: https://lnkd.in/gS_5iSis Kristin Laird, Rachael Neumayer, Stephanie Fusco #PeopleLedTechPowered #AI #Ecommerce #Automation #Retail #Walmart #WalmartCanada

Anand Ramanathan, Partner and Consumer Industry Leader—Consulting, Deloitte India, discussed the current trends and developments across the Indian retail and e-commerce landscape at the "2nd Edition The Economic Times Retail and E-Commerce Summit." He walked the audience through the foundational elements that retailers are currently taking an interest in. He also elaborated on some of the futuristic areas to watch out for, such as generative AI. Watch here: https://deloi.tt/443yJkt The Economic Times #DigitalTransformation #Technology #retail #ecommerce

Recent technological advancements have brought about a significant revolution in the retail industry. The aftermath of the COVID-19 pandemic is still being felt and the manner in which retailers have adjusted is via the means of technological advancements. The Smart Retail Tech Expo Las Vegas aims to challenge your thinking surrounding the incorporation of technology in the face of adversity and demonstrate pragmatic solutions to new issues today's society faces within the retail sector. Smart Retail Tech Expo USA

In the ever-evolving retail landscape, the role of cutting-edge technologies remains undeniable. The forthcoming session of the 2023 Leading Entrepreneurs of the World Conference offers attendees a deep dive into this phenomenon. On October 4th, between 10:00 am and 10:30 am US ET, attendees will have the opportunity to immerse themselves in a discussion on the transformative power of GenAI in the retail sector. The session, aptly titled "GenAI Transforming Retail", will be steered by ShiSh Shridhar, a titan in the realm of global retail. Holding the esteemed position of Global Retail Leader at Microsoft for Startups, Shridhar's unique perspective is shaped by his experience at the nexus of technology and commerce. His insights promise a nuanced understanding of how GenAI — the next generation of artificial intelligence — is not just influencing but revolutionizing the retail world. Shridhar is expected to elucidate on the multifaceted ways GenAI is altering consumer behaviors, optimizing supply chains, and tailoring shopping experiences to an extent previously deemed unattainable. From predictive analytics enhancing inventory management to AI-driven customer insights shaping marketing strategies, the session is geared to shed light on the myriad applications of GenAI in today's retail sphere. This illuminating presentation is an unmissable event for retailers, technology aficionados, and business leaders alike. As GenAI continues to reshape the contours of modern retail, staying abreast of its advancements becomes indispensable for those keen on seizing tomorrow's opportunities. For a glimpse into the future of AI-powered retail, mark your calendars and ensure your virtual presence at this essential discussion. Let's explore, together, the future trajectories GenAI promises for the world of retail. Satish T. Bakari Brock Florian Meyer Ravi Sudhakar Kambhampati Kelvin Keane Nicholas McQuire Kirk Safford Nitzan Gal Stelios Hatzakis Glenn Tyranski Melissa Ashley Henning Stein, Jeff Levy Oliver Rothschild James Rosenstein Leon Khanin John Pennett Wendy Howell Alicia Sedgwick Bertrand Petyt Roger Mader Jeff Erickson Nishith (Nish) Acharya Maher Hamdan Evangelos Sapountzis Nikolas Barbakis Leon Khanin 1BusinessWorld Microsoft Microsoft for Startups

Dive into the key insights from the Strategically Smart Retail Conference, a four-day event that brought together industry giants like TFG (The Foschini Group), takealot.com, Clicks Group, and Cotton On Group. This conference was a hub for challenging and enlightening discussions, focusing on the evolving landscape of South Africa's retail sector, including critical aspects like technology, omni-channel strategies, e-commerce, mobile shopping, and delivery systems.   Susan Mawer, Managing Executive at LRMG, emphasised a pivotal shift in the retail job market, “What really stood out was its reshaping of the retail job market and the new skill sets requirement in retail. Do you have a Chief Robotics Technologist included in your supply chain organisational chart? If you ask Amazon — it is an essential role,” she stated.   Key takeaways from the conference include the urgent need for substantial technological investments to secure future success. Some requirements included: ✅ Point-of-sale systems ✅ Advanced AI and automation software ✅ Predictive analytics tools ✅ Personalised marketing ✅ Chatbots ✅ Software for maintenance of product catalogues ✅ Technology to enable virtual shopping experiences in the metaverse   Panellists advised to be wary of the surplus of various app technologies and programs, highlighting five key questions businesses should be asking when taking on technology. ❔ Does it drive profitability, exponential impact, productivity enhancement, customer experience improvement, and utility?   For a deeper understanding of these transformative discussions and strategies, read the full article and learn how to navigate the complexities of the modern retail landscape. For queries, contact us on smartpeople@lrmg.co.za #RetailTrends #AdapttoThrive #RetailInnovation #humanresources