10 quotes about AI and retail (by people who know a thing or two about AI and retail)By Jon Taylor on April 6, 2018
For those of you who read our previous blog - "Retail's biggest challenges (and why AI is the answer)" - you're probably pretty clear on our stance on using artificial intelligence to drive results in retail. We're big fans, that's for sure.
However, perhaps some of you still need convincing that AI is the solution that the retail industry is crying out for. Or, maybe, some of you just simply don’t want to take our word for it.
With this in mind, we’ve gone to the trouble of pulling together ten of our favourite AI retail quotes, written by people who know their stuff – from founders and marketers to high street experts and tech whizzes. Enjoy!
“Today’s smart retailer is engaging in a new era of shopping experience, combining the human touch and technology to deliver a more tailored consumer experience.”
Guita Blake, senior vice president, Mindtree
“AI is an engine that is poised to drive the future of retail to all-new destinations. The key to success is the ability to extract meaning from big data to solve problems and increase productivity.”
Azadeh Yazdan, director of business development, AI Products Group
“There won’t be any business in 50 years that won’t be a software business. Businesses won’t be able to afford not to make data-driven decisions. Too many mistakes will be made.”
Pepijn Rijvers, CMO, Booking.com
“We’re a fashion company, but also a tech company. We like to see ourselves as innovators in tech, and we’re always after the next big thing in online shopping. We are early adopters of technology.”
Lucy Partridge, retail subject matter expert, ASOS
“Retailers are going on the offence, using technology to entice customers to shop both online and in store. Technology will be key to assisting retailers with creating new, meaningful ways for consumers to interact with their brand.”
Michelle Evans, global head of digital consumer research, Euromonitor International
“Access to data is a hugely powerful retail tool. It puts the retailer in control because it gives the retailer more information and much more insight into what’s really driving customer behaviour.”
Martin Newman, founder, Practicology
“AI has been powering retail for years, and retailers have only been scratching the surface of what’s possible. A combination of the right solutions and an intelligent approach to adoption and data management will help all retailers reap the benefits of AI.”
Geoff Hueter, CTO, Certona
“Looking into the future, VCs see the consumer trends of today fuelling tomorrow’s technology. AI will continue to evolve, powering nearly every personalised shopping and customer experience.”
Veronika Sonsev, co-founder, CommerceNext
“More and more brands are harnessing the power of AI to implement tailored product recommendations, and are seeing results. It’s estimated that 35% of Amazon’s sales come from its recommended products feature.”
Meghann York, product marketer, Salesforce
“Retailers who are ahead of the curve when it comes to the application of AI will have learned more from their early experiments and reap the benefits. Those playing catch-up may find themselves continuing to be just that – followers.”
Karina van den Oever, principal, Elixirr