Retail Technology Innovation Hub’s Post

📰 News: 📰 🚀 Rise of AI in Retail: Time to Automate or Get Left Behind! 🤖 Retailers, wake up! The CashRewards acquisition of Little Birdie is your wake-up call to the power of AI. These AI-driven deals are reshaping the retail landscape, and if you're not on board, you're already lagging. AI doesn't just automate—it transforms. Imagine automated price comparisons, personalized customer interactions, and seamless back-office operations. That's not the future, that's NOW. 🔍 Let's look at some data: 🔹 Little Birdie, funded with $30 million, surfaces over 70 million products for easy comparison.   🔹 Apple acquired 32 AI startups last year alone.   🔹 Amazon invested billions into AI companies, including Anthropic and Adept.   🔹 PayPal bought Honey for $4 billion to leverage AI for coupon code applications at checkout. You can't afford to ignore these numbers. AI will streamline your operations, eliminate inefficiencies, and provide an exponential ROI. CashRewards merging with Little Birdie is just one example but a huge indicator of the direction you need to head towards. 💡 Don't wait. Start automating your customer and back-office activities. The competition isn't resting—you shouldn't either. Comment below if you're ready to embrace AI and make your retail business future-proof. Follow AI Owners for more insights and join the conversation! 💬 #Retail #Disruption #Creativity #ArtificialIntelligence #AIOwners https://lnkd.in/g63zbDkH

🚨 The next big shift in business is happening NOW. If you’re not adopting AI, you’re falling behind. 🤖 Just like the shift from phone and face-to-face to the internet, and from web to mobile-first, the AI-first revolution is here – and the companies that embrace it are already pulling ahead. 💡 Want proof? Here’s what the giants are doing: • Amazon is using AI to personalise your shopping and streamline its massive supply chain. It’s no coincidence they’re dominating e-commerce. 📦 • Alibaba They’ve mastered AI-driven customer predictions and automation, keeping them on top as the largest e-commerce platform on the planet. 🌍 • AB InBev is cutting costs and boosting profits with AI-enhanced supply chain efficiency and top-quality products. 🍻 📊 The numbers don’t lie: Companies with AI-led strategies are seeing 2.5x faster revenue growth and are 3.3x better at scaling AI use than those that lag behind. ❓ So, what’s your excuse? Are you ready to supercharge your business with AI, or will you risk being left in the dust? 👇 Drop a comment or DM me to explore how an AI-first strategy can transform your business. Let’s talk about making your company the next success story! https://lnkd.in/eSJuXizn #AIFirst #GameChanger #AIRevolution #DigitalTransformation #BusinessGrowth #FutureOfBusiness #AIforBusiness #BusinessStrategy

Awesome discussion with Loren on why most leaders are failing. Loren has worked with the best of the best CEOs (René Lacerte who founded bill.com, and Tobias Lütke who founded Shopify, and now Ilir Sela who founded Slice pizza) This is just a small slice of a common pitfall we see leaders and managers make today in pursuit of shortcuts but the full webi speaks to a more end to end concept and what every single leader could do today to get 10% better. And it’s something qa teams can help their leaders with Agree / disagree / elaborate etc - leave in comments

Exciting news for eBay sellers like myself! 🚀 eBay has just rolled out its new AI program, designed to revolutionize how we connect with buyers and streamline our selling experience. This innovative AI technology promises to optimize listings, improve visibility, and provide personalized insights to help us reach our customers more effectively. I'm eager to explore the possibilities this brings for growing our businesses and delivering even better shopping experiences. Here's to embracing the future of e-commerce together! 🌟💼 #eBaySeller #AI #Ecommerce #BusinessGrowth #TechInnovation

I'm hoping to give a talk at the e-commerce expo in Berlin in a couple of months on evaluating vendor ROI claims in AI. It's a subject near and dear to my heart because I'm simultaneously extremely excited about advancements in AI, and also worried that if we don't speak now about how to debunk overly optimistic claims by vendors and technologies in the space, it will create a bigger and bigger bubble that will eventually burst. Don't get me wrong. I'm incredibly excited about the capabilities AI is making possible, and especially those in e-commerce. But I also think it should be imperative on vendors and technologies to prove they can do what they say they can do, and it's important for all of us to be thinking about frameworks for how to prove ROI from AI-based initiatives. The more we align on these frameworks, the less of a bubble there will be to pop, and the more we can all benefit from the new opportunities AI is opening up. Speaking about this now may make lives harder in the short term for those of us in the business of creating AI-based technology that others buy (and I'm one of these people), but I'm very convinced it will make lives better for everyone in the long term because it will ensure people are only investing in technology that will genuinely help them. If it's a topic you also think should be spoken about more, I'd appreciate a vote in the link below. https://lnkd.in/dXipzYaw

𝗪𝗮𝗹𝗺𝗮𝗿𝘁 𝗕𝘂𝗿𝘀𝘁𝘀 𝘁𝗵𝗲 𝗕𝘂𝗯𝗯𝗹𝗲 𝗼𝗳 𝗔𝗻𝘆𝗼𝗻𝗲 𝗪𝗵𝗼 𝗦𝗮𝘆𝘀 𝗧𝗵𝗲𝗿𝗲'𝘀 𝗮𝗻 '𝗔𝗜 𝗕𝘂𝗯𝗯𝗹𝗲'! In the latest Q2 2024 earnings call, Walmart has proven that AI is far from just a buzzword—it’s a powerful tool driving tangible results across their business! 𝗛𝗲𝗿𝗲 𝗮𝗿𝗲 𝘀𝗼𝗺𝗲 𝘀𝘁𝗮𝗻𝗱𝗼𝘂𝘁 𝗶𝗻𝘀𝗶𝗴𝗵𝘁𝘀: 𝗚𝗲𝗻𝗲𝗿𝗮𝘁𝗶𝘃𝗲 𝗔𝗜 𝗶𝗻 𝗔𝗰𝘁𝗶𝗼𝗻: Walmart has used generative AI to enhance over 850 million pieces of product data in their catalog, a task that would have required nearly 100 times the current headcount without AI. This isn’t just about efficiency—it’s about revolutionizing how customers find and buy products. 𝗔𝗜-𝗣𝗼𝘄𝗲𝗿𝗲𝗱 𝗖𝘂𝘀𝘁𝗼𝗺𝗲𝗿 𝗘𝘅𝗽𝗲𝗿𝗶𝗲𝗻𝗰𝗲: Walmart has integrated AI-powered search into their app and website, offering personalized shopping assistance that can answer detailed questions like, “Which TV is best for watching sports?” This is AI directly enhancing the customer experience. 𝗦𝘂𝗽𝗽𝗼𝗿𝘁𝗶𝗻𝗴 𝗠𝗮𝗿𝗸𝗲𝘁𝗽𝗹𝗮𝗰𝗲 𝗦𝗲𝗹𝗹𝗲𝗿𝘀: With a new AI-driven assistant, Walmart is helping sellers navigate their platform with ease, providing quick, concise answers to complex questions. It’s all about making the selling process as seamless as possible. 𝗦𝘁𝗿𝗮𝘁𝗲𝗴𝗶𝗰 𝗔𝗜 𝗜𝗻𝘁𝗲𝗴𝗿𝗮𝘁𝗶𝗼𝗻: Walmart isn’t just dabbling in AI—they’re embedding it across operations, from customer service to supply chain management. And they’re doing it responsibly, ensuring that AI’s impact is both powerful and positive. 𝗗𝗼𝘂𝗴 𝗠𝗰𝗠𝗶𝗹𝗹𝗼𝗻, 𝗪𝗮𝗹𝗺𝗮𝗿𝘁’𝘀 𝗖𝗘𝗢, 𝘀𝘂𝗺𝗺𝗲𝗱 𝗶𝘁 𝘂𝗽 𝗽𝗲𝗿𝗳𝗲𝗰𝘁𝗹𝘆: “We’re finding tangible ways to leverage generative AI to improve the customer, member, and associate experience. We’re leveraging data and large language models from others and building our own.” On the day of the earnings call, this bold use of AI fueled a rally for AI vendor's stocks, reinforcing the notion that AI is a cornerstone of future business success, not a bubble. Full Report: https://lnkd.in/dXwAgANe #AI #ArtificialIntelligence #GenerativeAI #Walmart #Innovation #TechTransformation

🔥 Today, at WizCommerce, we're answering a burning question: How many sales reps does it take to analyze three years of data? 🔢 Is it five? Ten? Twenty? ✨ The truth is...none! 💪 With WizAI, you can leave the heavy lifting to us. 💹 WizCommerce’s AI-driven recommendation engine, WizAI, effortlessly analyzes years of data, including purchase history, invoices, and market trends, and gives you a list of leads most likely to convert. ❓ Could it be any easier? We don’t think so! 💫 No more guesswork or relying on intuition! Just smart, data-driven decisions to boost sales and revenue. ➡ Don't miss out! Join the ranks of sales teams who have already discovered the power of WizAI. #WizCommerce #AI #Innovation #WizAI

🚀 September 2024 Round-Up: AI, Branding, and More! 🚀 September was full of groundbreaking advancements in AI, some surprising brand moves, and evolving industry trends. From Amazon's new AI shopping assistant to PayPal's bold rebrand, there’s plenty to explore! Swipe through our carousel to see some highlights, including: 🛒 Rufus – Amazon’s AI-powered shopping companion  🎬 Beetlejuice 2’s controversial brand partnerships  📊 UK brand values and challenges in 2024  💸 PayPal’s new look for the future of fintech  💡 The latest updates on Google Gemini AI Ready to see September’s biggest moments? Read the full blog here: https://lnkd.in/eVv-tbAu #Think3 #RoundUp #AI #Branding #MarketingTrends #Rebrand #Digital #MarketingInsights

I'm thinking of the 700 full time agents that were replaced and the ripple effect afterwards in the economy which will still negatively impact Klarna in the long run because nothing exists in a vacuum. The bottom line might have been improved but I wonder if more money in the pockets of shareholders is a good replacement for building society if the company wasn't running at a loss initially. In this age of AI, we will have to be intentional about what to implement on one hand and what trade-offs to make on the other hand to ensure we are able to sustain a triple bottom-line policy. The true winner in the AI revolution would be the companies that own the platform and not the users of it. The sheer resources required to make Generative AI work means that there can only be few players who can own compute power - that's just a lot of power in the hands of very few hands. It is a bit disconcerting. AI isn't some new super cool toy we can just mess about with - it is a digital nuclear power that needs the utmost collective responsibility of the entire human race to ensure we use it well. Just like fire, it can power our growth or consume us all but we still get to decide which end of the spectrum we want to be.

Today, Klarna declared they cut $10M of annual marketing costs with GenAI. A few months ago, they announced how their chatbots powered by OpenAI replaced 700 full-time agents, estimating a $40M improvement in profit this year (sources in comments). Klarna seems to have found a successful blueprint by focusing on areas that matter to them: customer experience, operational efficiency, and marketing. They didn’t just create a fancy AI product for headlines but ensured their initiatives added real value to the company. In my view, their strategy is a good example of how AI investments should be made. They have not only identified the right areas for AI implementation—which is the first question to be answered if you are thinking of integrating AI into your business—but also created an environment where everyone in the organization is empowered to be AI-driven, with 87% of employees using GenAI tools. This is key for achieving strategic shifts. Successful integration of new technologies requires commitment from leadership and alignment across the organization. Klarna’s declared success shows that with the right vision, governance, and focus, AI can significantly improve business performance and… the bottom line. Thoughts on Klarna’s AI achievements? How do you ensure tech investments deliver tangible value to your company? #Leadership #Transformation #AI #StrategyExecution #BusinessGrowth #OperationalEfficiency #CustomerExperience #Innovation