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Welcome back to this week’s essential AI reads for retailers and happy Wednesday! Thanks for your continued readership 🙂

Inside

• Why aren’t you using AI?

• Avoid mistakes in inventory forecasting

• Why Brunello Cucinelli believes AI is the future

• Chicago Tech Week Invite

Are you using AI?

We want to hear from you! If you tried to use AI in your business and decided to stop, what was the main reasoning behind it? If your reason isn’t listed below or you want to expand on your answer, just respond to this email.

Some retail brands abandon AI initiatives due to misaligned expectations and inadequate strategic planning. Often, these companies adopt AI technologies without a clear understanding of how they will address specific business challenges or integrate with existing processes. To determine which AI solutions will be effective for your brand, start by conducting a thorough analysis of your operational pain points and growth opportunities. Then, research AI applications that directly target these areas, ensuring they align with your brand's core objectives and values. Prioritize solutions with proven track records in your industry and assess their scalability and compatibility with your current systems. Begin with small-scale pilot projects to evaluate effectiveness and gather data before considering wider implementation. Remember, successful AI adoption should enhance your brand's operational efficiency and customer experience, ultimately driving tangible business results.

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This Week’s Retail AI News

• “Using AI for inventory management in retail can cut down demand forecasting mistakes by half”

• AI and technology will be able to enhance customer experience while making the team members’ jobs a lot easier. This is the sentiment coming from grocery stores and fast food chain.

• Why luxury e-commerce crumbled?

• A year of generative AI helped Gucci defend the top position for innovation in theVogue Business Index.

Just for fun:

BrunelloCucinelli.ai

You’re Invited!

Save the date: Wednesday July 24, 2024

​Learn from Industry Experts with stories from the trenches for AI use cases that are transforming the way Retailers operate, engage, and sell. RSVP for our AI Workshop during Chicago Tech Week below:

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