article thumbnail

3 technology trends set to revolutionize retail

CIO

Few verticals have undergone as massive a change as retail in the last couple of years. Driven by cutthroat competition and significant shifts in customer expectations, retail companies are striving to align themselves with the changing landscape, with IT playing a crucial role in their ability to achieve this.

Retail 461
article thumbnail

Piyush Chowhan, CIO, Panda Retail: Leadership positions demand tough decisions

CIO

With more than two decades of experience working in global consumer and retail companies, Piyush Chowhan is passionate for transforming businesses by leveraging technology. In a free-wheeling discussion with CIO.com, he throws light on his business-technology journey and how he delivers results and creates value across organizations.

Retail 325
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

CarMax drives business value with GPT-3.5

CIO

Generative AI such as ChatGPT has of late captured the imagination of business leaders across industries. x for business value even before ChatGPT became a household name. CarMax’s IT team, for one, has been working with Microsoft and OpenAI to leverage GPT-3.x billion overall. It’s not the wild west,” he says. “We

Business 909
article thumbnail

Think you can ignore quantum computing? Think again.

CIO

In 1994, American mathematician Peter Shor developed quantum algorithms to factor integers and solve the discrete logarithm problem. When run on a big enough quantum computer, these algorithms will be able to crack all the public key crypto systems we rely on today for privacy. The impact will be felt globally.

Algorithm 869
article thumbnail

Major Trends Involving Artificial Intelligence in Retail

Smart Data Collective

AI has become incredibly important for the retail sector. This is partly because the industry must take measures to avoid collapsing in the wake of new competition from online retailers. It is believed that the retail sector will irreversibly decline in the future. Major AI Trends in Retail. In the U.K., In the U.K.,

Retail 328
article thumbnail

Big Data: The Technology Behind Retailers Success

Smart Data Collective

During the beginning of the pandemic, many businesses went digital, and the retail industry is no exception. Big data in retail help companies understand their customers better and provide them with more personalized offers. 33% respondents of Statista’s survey indicated that big data is essential to their business success.

Retail 313
article thumbnail

What is predictive analytics? Transforming data into future insights

CIO

Predictive analytics in business Predictive analytics draws its power from a wide range of methods and technologies, including big data, data mining, statistical modeling, machine learning, and assorted mathematical processes. Predictive models can help businesses attract, retain, and nurture their most valued customers.