How is generative AI affecting retail?

22 Jun 2023 · 1 min

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Generative AI lets retailers create personalized products and experiences for each customer instead of just filtering existing options. This means redesigning how retail works, from inventory to customer interaction, to handle made-to-order creation at scale.

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With generative AI, it kind of sits outside of that framework a little bit because no longer are you just filtering and ranking and sorting, you're generating new data. And so I think that really transforms how you might think about how you interact with a shop or a consumer company or your network operator or really anyone where you have a kind of customer-provider relationship with, because rather than that organization offering you a number of different experiences or products, and then the models filter that. You might have an agent or a conversational AI that is actually able to generate something entirely new and bespoke and novel for you, both in the way you search for it, interact with it, and potentially even in the product offering itself. And so I think we're seeing the start of that, but that's going to take a little while for these sorts of businesses to reconfigure themselves. If indeed some of them can, moving from traditional retail view of the world to one which is totally bespoke, maybe even at the customer level.