At Retail's Big Show in New York City, approximately 40,000 participants from over 100 countries focused on the impact of artificial intelligence (AI) in retail. Keynote speaker Doug Herrington from Amazon emphasized the technology's transformative nature, akin to the advent of the internet. Nvidia's Azita Martin urged retailers to initiate their AI journeys, highlighting the need for executive support and clear metrics. Companies like Lowe's are already benefiting from AI, utilizing digital twins for inventory management and store optimization, showcasing the technology's potential to enhance customer experiences and operational efficiencies.
AI is becoming transformative. We've not had a technology revolution like this since the internet. It's requiring eye-opening investment, but the breadth of gains makes it worthwhile.
AI is real, so get started. It needs executive sponsorship - they need to believe in it. Retailers need to pick specific challenges and assign teams to it.
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