Let’s Get Practical: Effective Approaches to Integrate AI/Machine Learning into Existing Retail Systems without Disruption

Produced by

Nima Elyassi-Rad

Vice President of GTM

Renee Hartmann

Strategic Advisor
Coresight Research

Kyle Keogh

Chief Business Officer – Americas
Cover Genius

This session sheds light on the evolving e-commerce landscape. Cover Genius brought together a panel of experts to discuss innovative protection solutions for merchants amidst changing delivery dynamics. The conversation, led by Renee Hartmann, Strategic Advisor at Coresight Research, Nima Elyassi-Rad, Vice President of GTM at Shippo, and Kyle Keogh, Chief Business Officer - Americas at Cover Genius, ventured into the critical aspects of consumer demand, shipping challenges, and the transformative potential of AI in retail.

Renee Hartmann set the stage by emphasizing the importance of integrating technology in retail to innovate for the future, perfectly aligning with the session's theme on leveraging tech-forward protection solutions for merchants. Renee's insights into retail technology and her work on 'Next Generation Retail' underpin the urgency for retailers to adapt and innovate in the face of evolving consumer expectations and the global delivery landscape.

Nima Elyassi-Rad from Shippo brought to light the economic undercurrents affecting consumer behavior, including rising corporate and consumer debt levels, which pose significant challenges yet offer a glimmer of hope with the anticipated easing of interest rates. His perspective underscores the importance for retailers to monitor these trends closely as they navigate the e-commerce domain.

Play Video

Kyle Keogh from Cover Genius focused on the shift in consumer expectations, noting the rise in demand for ancillary services like shipping protection and product warranties. Kyle’s insights into the partnership between Cover Genius and Shippo highlight the collaborative efforts in offering comprehensive solutions to ensure smooth deliveries and drive conversion rates, catering to the modern consumer's needs for fast, reliable, and protected shipping.

The discussion also ventured into the broader implications of shipping challenges, such as porch piracy, which costs $25 million daily, emphasizing the need for retailers to consider insurance and protection solutions more seriously. The speakers elaborated on the innovative companies tackling return fraud and the importance of leveraging AI and unique datasets to enhance the retail and shipping experience.

One of the key takeaways from the session was the consensus on the critical role of trust in e-commerce. As Nima aptly noted, "We all ultimately do business with people we trust," highlighting insurance as a vital component in building and maintaining consumer trust. The conversation also touched on the need for regulation in autonomous delivery solutions and the potential of AI to optimize the entire customer journey, not just at the point of sale but throughout the delivery and return process.

In conclusion, the session underscored the necessity for retailers to focus on core strengths and offer a comprehensive suite of solutions to protect shipments and enhance the customer experience. The insights shared by Renee, Nima, and Kyle serve as a roadmap for retailers looking to navigate the complexities of the modern e-commerce landscape, emphasizing innovation, trust, and the strategic use of technology to meet and exceed consumer expectations.

APRIL 2024