AI offers vast possibilities for innovation and problem-solving, unlocking insights and creating unique customer experiences. At Digital Wave Technology, we’re already using GenAI in our retail solutions and internal processes. AI provides significant efficiency gains, streamlining labor-intensive tasks such as merchandising and product information. It can personalize customer experiences, optimizes inventory and pricing, and improves customer service and operations. Retailers must invest now but proceed with caution. It’s crucial to work with partners who have invested in this space, recognize potential pitfalls, including inaccurate results, biases in data, and cybersecurity risks. Striking a balance between leveraging AI's potential and ensuring human oversight and robust cybersecurity practices is essential.
Lori Schafer
Chief Executive Officer,
AI and Automation aren't new in retail, but top retailers are using the latest advancements to stay a step ahead of the competition. AI helps Marketing teams better understand customers, work smarter with personalization and analytics, and ultimately drive customer loyalty. In fact, we recently found through global research that around half of shoppers are more likely to purchase from a brand that leans on AI to shape good customer service. But, equally important for customer loyalty, retailers must address skepticism around AI and be transparent in how they use these technologies. This balance will further drive trust and provide the best possible customer experience.
Joanna Milliken
Chief Executive Officer,
Shahin Kohan, a seasoned and trusted technologist, businessman and advisor, is on a mission to catalyze the potential of people and organizations through the power of technology. Three decades of experience working across industries has granted him the knowledge, resources and perspective to effectively create solutions to problems of any size, and ultimately help others make their impact on the world. His companies, including AIMS360, the leader of fashion technology, and Kumo Technology, a pioneering workflow innovation and software development company focused on the private lending industry, allow him to achieve that goal. A proud American immigrant raised amidst the struggle of Tehran, Iran in the 70s, his inspiring journey of possibility, persistence and passion fuels his deep appreciation and endeavor to make technology more accessible, human and powerful for all.
AI's integration into retail was destined, expedited by generative AI tools, such as ChatGPT. GenAI, and AI in general, educates shoppers and helps them to discover the products right for them, improving satisfaction and possibly reducing returns. Businesses are at a turning point: to consider AI not optional but essential. To successfully leverage the benefits of AI, it’s crucial that brands choose a partner that has a robust, secure, and innovative mindset, and be able to propel their businesses forward while mitigating unnecessary risks.
Simon Langevin
Vice President of Product, Coveo
Shahin Kohan, a seasoned and trusted technologist, businessman and advisor, is on a mission to catalyze the potential of people and organizations through the power of technology. Three decades of experience working across industries has granted him the knowledge, resources and perspective to effectively create solutions to problems of any size, and ultimately help others make their impact on the world. His companies, including AIMS360, the leader of fashion technology, and Kumo Technology, a pioneering workflow innovation and software development company focused on the private lending industry, allow him to achieve that goal. A proud American immigrant raised amidst the struggle of Tehran, Iran in the 70s, his inspiring journey of possibility, persistence and passion fuels his deep appreciation and endeavor to make technology more accessible, human and powerful for all.
AI in Retail: Beyond ChatGPT
AI in Retail: Beyond ChatGPT
Shahin Kohan, a seasoned and trusted technologist, businessman and advisor, is on a mission to catalyze the potential of people and organizations through the power of technology. Three decades of experience working across industries has granted him the knowledge, resources and perspective to effectively create solutions to problems of any size, and ultimately help others make their impact on the world. His companies, including AIMS360, the leader of fashion technology, and Kumo Technology, a pioneering workflow innovation and software development company focused on the private lending industry, allow him to achieve that goal. A proud American immigrant raised amidst the struggle of Tehran, Iran in the 70s, his inspiring journey of possibility, persistence and passion fuels his deep appreciation and endeavor to make technology more accessible, human and powerful for all.