Harnessing AI for Content Creation and Innovation in Retail and
During a session at the NACDS Total Store Expo in San Diego, a group of panelists discussed the practical applications of artificial intelligence (AI) in health care, retail, and wellness services. They highlighted the potential of AI in solving challenges such as organized retail crime, retail media networks, and demand forecasting.
Deborah Weinswag, CEO of Coresight Research, mentioned that learning how to use AI and generative AI can be beneficial in tackling these challenges. She emphasized the importance of changing marketing messages based on the channel and identifying key influencers.
Small personal tasks like creating LinkedIn captions can be handled by AI and boost engagement. Additionally, AI can be used for larger retail challenges, creating predictive models, pattern recognition, and new content. Increasingly, health care companies are harnessing AI to improve patient care and business efficiency.
Lori Schafer, CEO of Digital Wave Technology, explained that generative AI is a subset of AI that can create new content. It can find similar patterns in words or images and generate new text, video, images, and poetry. This innovation has the potential to revolutionize businesses across industries.
Schafer stressed that AI can improve business efficiencies, enhance customer experience, and drive conversions. She advised companies to start small and simple, regardless of their industry. Managing B2C or B2B websites with AI can reduce wasteful retail practices.
The panelists also discussed the use of generative AI in storytelling and copywriting to create brand stories. However, they emphasized the need for human intervention in these functions.
The panelists encouraged retailers and health systems to utilize AI both internally and externally. Internal AI can help with data management and building data models, while external AI can enhance a brand’s quality.
To start with AI, companies should focus on specific cases they want to improve and build data models accordingly. Starting with simple models and gradually expanding is recommended.
AI also simplifies marketing tasks and data analysis, leading to better understanding of customer behavior and more effective campaigns. With AI-driven processes, companies can significantly speed up operations and improve conversion rates.
In conclusion, AI has the potential to transform various aspects of retail and healthcare. It is important for companies to embrace AI as a tool that can augment their capabilities and drive innovation.
