The potential of generative AI at Handelskongress 2023
Photo: Winkler Studios / Jörg Sarbach
What are the opportunities of generative AI for the retail sector and how can companies position themselves for the future as part of the AI transformation? At Handelskongress, we provided answers to these questions on stage and with our experts on site.
On 15 and 16 November, leading players from German retail, the consumer goods industry and politics met at Germany's largest and most important retail event. Keynote speeches, strategy and practical forums provided fresh approaches to thinking about current and future challenges and developments.
Kai Müller (CEO Experience One) explained the role that AI plays in this and what is needed to master the AI transformation on stage in a discussion with Stephan Tromp, Deputy Managing Director of the German Retail Association (HDE), and his digital alter ego. "The concept of the digital twin is forcing companies to think about their data," said Tromp. By presenting AI, Stephan Tromp and Kai Müller wanted to highlight the opportunities for retailers, but also the risks that the technology entails.
What lessons can retailers learn from this?
- Mindset: Start exploring now and build up the necessary expertise within the company. This is the only way to find out where the greatest potential of generative AI lies.
- Technology: Develop and build your own company AI. This should meet the company's own needs and objectives. Companies such as the Otto Group have already recognized that a brand's own AI solution is the key to making German retail fit for the future.
- Customer experience: The potential of generative AI can be used for a personalized consulting approach that inspires customers: for example, a digital super salesperson who knows every product, advises customers personally around the clock and guides them directly to their desired product.
The future of AI in retail is now! With the right mindset and the intelligent use of AI-based solutions such as sales advisors or smart assistants, decision-makers already have the tools to take the customer experience to a new level.