AI provides major opportunities for retailers as well as threats. But there are big misconceptions or misunderstandings to watch out for. In this episode, join Oliver Banks to explore 10 crucial considerations about AI in retail. Learn new ways to consider AI, bust open a major myth, and discover which AI use case could disrupt retail most.
Listen to this episode of the podcast to hear:
- Why we are likely to be wrong about AI’s impact on retail in 2023.
- How you can reframe AI to think of loads of positive use cases.
- Which AI use case will provide the biggest impact to the retail industry.
McKinsey insights on AI’s impact to the retail industry
In the episode, Oliver references a 2018 McKinsey report about the applications and value of this technology. See below for the referenced charts.
Additional episodes of the Retail Transformation Show to listen to
Firstly, in episode 223: AI And The Future Of Retail, ChatGPT appeared on the podcast to talk to Oliver. Hear (literally!) ChatGPT’s perspective on how AI will be used in the retail industry.
Omnichannel retail is a challenge for the industry. But AI can help connect the channels and create that “seamless” journey. So listen to episode 176: Being The Best Omnichannel Retailer.
Finally, data is crucial for a successful and useful AI deployment. So in episode 124, hear How To Be A Data Driven Retailer. This features takeaways from the data series on the podcast, so also check out episodes 119 to 123 too.
