Cognitive Revolution – Generative Artificial Intelligence (AI) Meets Retail

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Generative Artificial Intelligence (AI) in Retail Report Overview

Generative AI models can help optimize sourcing and manufacturing, enhance distribution efficiency, personalize the point-of-sale experience, and customize consumer interactions for heightened satisfaction and loyalty. It can optimize sourcing by predicting the best materials for product manufacturing and improving packaging designs, leading to cost reductions and enhanced sustainability. GenAI can also transform distribution, aiding in accurate demand forecasting, route optimization, and efficient inventory management, thus reducing overall logistics costs.

The Generative Artificial Intelligence (AI) in Retail research report delves into the vast realm of opportunities that generative AI brings to retail, spanning from enhancing customer interaction, and efficient inventory management, to personalized marketing techniques. While hurdles like data privacy and content quality exist, they are failing to hinder the breakneck pace of this technological advancement in the retail world.

Key Use Cases ·       Optimizing Personalized Journeys

·       Fortifying Margins

·       Mitigating Overcapacity

·       Fostering A Transformative Shift From Products To Immersive Experiences

Leading Players ·       Adobe

·       Amazon

·       Booth AI

·       CALA

·       Carrefour

·       Claid AI

·       CommerceIQ

·       Crate & Barrel

·       Delivery Hero

·       Designovel

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Generative AI Use Cases in Retail

Generative AI has the potential to address the challenges faced by the retail sector such as optimizing personalized journeys, fortifying margins, mitigating overcapacity, and fostering a transformative shift from products to immersive experiences.

Optimizing Personalized Journeys: This includes cognitive customer care, personalized marketing, recommender systems, AR shopping, customer segmentation, headless commerce, and semantic search.

Product-to-Experience Shift:  This includes image generation, AR shopping, virtual photoshoots, virtual try-ons, product development, virtual fashion design, immersive platforms, 3D product catalogs, virtual showrooms, and visual merchandising.

Retail Sector’s Strategic Challenges

Retail Sector’s Strategic Challenges

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Generative AI in Retail - Competitive Landscape

The leading players applying Gen AI in the retail market are Adobe, Amazon, Booth AI, CALA, Carrefour, Claid AI, CommerceIQ, Crate & Barrel, Delivery Hero, and Designovel, among others.

Retail Market Analysis, by Players

Retail Market Analysis, by Players

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This report provides-

  • Innovation Insights: innovation examples by generative AI use cases in the retail sector to present key trends.

Key Highlights

Innovations: presents real-world innovation examples related to the generative AI use cases in the retail sector. It casts light on how retail sector players are utilizing generative AI technology across key sector-specific application areas.

Reasons to Buy

  • No surprise that technology has been a driving force in business transformation for years, but the term ‘emerging technologies’ has suddenly become the key catalyst to drive the next wave of innovation across sectors.
  • The sense of urgency weighs differently across different sectors, where the direct customer-facing sectors are at the forefront compared to other capital-intensive sectors. Companies in one sector can take cues from successful innovations in other sectors to either draw analogies with existing products, services, and processes or transfer strategic approaches for a revolutionary transformation.
  • Against this backdrop, enterprises need to understand which emerging technologies are impacting their sector and how various companies are implementing them to meet various challenges.
  • The innovation landscape report on retail innovations in generative AI, published by GlobalData as part of an ongoing series, covers some real-world examples to advance the development and implementation of the technology by some of the key enterprises in the retail sector.

Booth AI
Claid AI
Crate & Barrel
Delivery Hero
Elizabeth Arden
Geenee AR
Grid Dynamics
Let's Enhance
Sandton City
Zeta Global

Table of Contents

1. Sector exposure map in genAI

2. Impact on the retail value chain

3. Thought leadership

4. Key use cases

5. Mapping use cases against retail challenges

6. Real-world innovations

7. Outlook

Frequently asked questions

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