If you weren’t at Shoptalk in Las Vegas last week, you missed a great conference. Shoptalk has evolved into a must-attend retail event with more than 8,000 attendees and growing, a destination where retailers and brands go to learn and collaborate and where networking opportunities are key. The conference included content on the latest retail trends around technology, data, and wins and losses in the online vs brick-and-mortar battle. Here are my key takeaways from the conference.
During Shoptalk in Las Vegas last week, a predominant theme was Artificial Intelligence. Yes, most retailers know about AI and the importance of it – but do they know how to embrace and leverage this powerful technology? As technology innovation grows at such a rapid rate and huge amounts of data are being produced every second, machine learning and artificial intelligence can help sort through and decipher the clutter. Retailers need to learn to utilize AI and data analytics to improve customer service by anticipating behavior and allowing the data to come to life to impact the customer on an emotional level to drive business. The consensus of the week was: if you’re not using AI, you’re way behind.