Harnessing the Power of Generative AI in Retail

🎯 Key Takeaways for quick navigation:

00:00 📊 Generative AI is being used for product designs and visual search options, allowing customers to try products virtually before purchasing, improving the shopping experience, and reducing return rates.
03:52 🎯 Marketing personalization is enhanced through generative AI, which leverages traditional customer data, purchasing behavior, and preferences to create highly personalized marketing content, increasing engagement and conversion rates.
08:47 💼 Retail is a dynamic sector that readily embraces innovations and is open to AI-driven improvements, making it an ideal industry for applying generative AI for customer insights and decision-making.
13:31 🧐 The challenge in retail is to understand the behavioral data, such as keywords and sentiment analysis from unstructured sources like social media, reviews, and online discussions to inform product design and improvements.
25:25 💰 Dynamic pricing, powered by AI, allows for multiple price points in a single day, suitable for businesses like airports, optimizing profitability through real-time data analysis.
25:51 📰 Google announced its Advanced AI model "Gemini," which competes with other AI models like ChatGPT.
27:12 🌐 Generative AI is being used for dynamic pricing, which helps eliminate compromises in quality, availability, or price for customers.
27:26 🛍️ Generative AI analyzes customer preferences, purchase history, and browsing behavior to provide personalized product recommendations, enhancing customer satisfaction and increasing sales.
28:51 🧾 Generative AI is useful for processing unstructured data and generating better recommendations, benefiting both customers and companies by improving the shopping experience.
43:26 🇪🇺 The European Union has reached an agreement on comprehensive AI regulations, emphasizing human rights and safety in high-risk AI applications.
52:10 📊 Analyzing video transcripts used to be time-consuming and required manual intervention.
53:05 🤖 Generative AI technology can streamline the process of transcribing and analyzing videos, integrating with traditional data sources.
54:08 📈 Connecting generative AI insights to traditional data is crucial for better model outputs and requires multi-model databases.
55:11 🧹 Cleaning and organizing data is essential, both structured and unstructured, for effective data analysis and modeling.
57:02 💼 Exploring the applications of generative AI in retail, including customer service automation, virtual shopping assistants, and inventory management.

#generativeai #llm #ai

свернуть