According to experts at Dell Technologies, AI is leading the way for innovation in retail in 2024. It enables retailers to improve customer and employee experiences and optimize their operations. Dell Technologies and its partners are helping retailers achieve these goals by providing solutions that accelerate innovation and create long-term value.
AI is a key factor for success in retail. Michael Dell recently shared his vision of the superpowers AI will give to organizations. He said, “If you’re not applying AI across your organization and thinking deeply about reinvention, you’re already behind.” Retailers have been using AI for years. For example, to enhance computer vision, to streamline supply chains, or to suggest products to customers. New capabilities like Generative AI can also help with customer experience, as well as with internal operations, marketing initiatives, or customer support and engagement. Data Management is essential, and retailers must have a strategy to access data from different systems.
At NRF 2024, Dell Technologies hosted a “Big Idea” session focused on the responsible use of AI in retail. Traditional forms of AI are important to provide insights that can be used across broader applications of Generative AI models. Using Computer Vision as an example, we can monitor customer traffic patterns, detect potential risks, prevent loss, and enable frictionless shopping. Combining data from computer vision with inventory can help prioritize stocking. Using digital twins can help design store layouts and simulate shopper experiences without making major changes. Generative AI can use all these data sources to help automate store management tasks and improve employee training and service response, thus enhancing shopping experiences.
AI will need the right platforms to deliver value for retailers. Retailers need a variety of technology solutions and services to support retail workloads from the front end to the back of the store and from the store to the distribution center to the corporate. They need the flexibility to deploy retail capabilities their way, from the edge to the cloud.
