Artificial Intelligence (AI) and Machine Learning – they are rapidly making their way into all data-driven areas of the retail sector. Christian Bärwind, Industry Leader Retail, Strategic Partnerships at Google knows more about this.
Mr. Bärwind, which retail sectors will benefit from this in the long term?
We see AI or better let’s speak about Machine Learning – as the next step. From a technical perspective, we are at a whole new level today than we were five years or even a year ago. For example, the use of Machine Learning makes it much easier to develop dialogues today. This has a positive effect on the natural use of digital assistants and AI.
With a view to consumers, we see a major change. Customers today are more demanding, more curious and more impatient than ever and expect practical and interesting solutions.
Many retailers are already reacting to this and are increasingly integrating the latest technologies into their companies and their value creation chain. This enables them to provide consumers with a better customer experience. AI can add value at every stage, whether through optimizations in logistics, product design or pricing through the intelligent processing of large amounts of data. Personalized customer service is also possible with digital assistants.
How can retailers lose the fear of using the latest technologies?
By getting braver. Retailers should consider carefully which new technology will add value to their business. For example, new technologies can help employees make decisions and improve the customer experience.
Google is a role model for many companies in many ways: What characterizes a pioneer?
A pioneer should never be afraid of failure. As a technology company, we at Google constantly test all our products to find out what users really want. Of course, we don’t want to fail either, but it’s part of the learning process.