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3 ways Generative AI is transforming the retail industry

CIO

Generative artificial intelligence (GenAI) tools such as Azure OpenAI have been drawing attention in recent months, and there is widespread consensus that these technologies can significantly transform the retail industry. How can Generative AI speed innovation in retail?

Retail 617
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The fast track to intelligent retail modernization with TCS and Microsoft Cloud

CIO

Retail organizations face an urgent need to accelerate digital transformation efforts in response to economic insecurity, persistent inflation, and growing consumer price sensitivity. With cloud adoption, retailers have been successful and with emerging artificial intelligence (AI) capabilities on cloud, they can break the barriers.

Retail 614
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Tencent’s AI and cloud to accelerate the Middle East’s Tech-led transformation

CIO

Leading technology vendors are either launching their own large language models (LLMs) or leveraging existing LLMs to ensure their customers can transform, innovate, and disrupt their respective industries and not churn to the competition. In the Middle East, AI- and cloud-led business transformation is a top priority for enterprises.

Gaming 697
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Nvidia offers retail loss prevention software to accelerate accelerator chip sales

CIO

GPU manufacturer Nvidia is expanding its enterprise software offering with three new AI workflows for retailers it hopes will also drive sales of its hardware accelerators. The workflows are built on Nvidia’s existing AI technology platform. The first non-Amazon supermarket to use the company’s technology opened in Kansas City in December.

Retail 451
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Amazon downsizes AWS in a fresh cost-cutting round

CIO

However, the company faces intense competition in the cloud computing market, particularly from Microsoft, which has emerged as a formidable rival. Despite maintaining robust double-digit growth rates, market leader Amazon witnessed a decline in its global market share, which “dropped to 31%.”

Retail 679
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Unpacking Leroy Merlin’s marketplace strategy

CIO

Over the years, the retail industry has had to adapt quickly to the rise of ecommerce and omnichannel, says Anderson. Over the years, the retail industry has had to adapt quickly to the rise of ecommerce and omnichannel, says Anderson.

Commerce 674
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Will enterprises soon keep their best gen AI use cases under wraps?

CIO

The retail industry has no shortage of cases on display where generative AI has shown tangible benefits. Suddenly, you can create engaging customer-facing videos at the click of a button,” says Oliver Banks, retail consultant and author of Driving Retail Transformation: How to navigate disruption and change.

Biotech 798