How are executives from leading retail and consumer products goods organizations creating new paths to growth with the help of AI transformation?
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Decreased consumer spending and rising customer expectations have narrowed the path to growth for retail and consumer products goods (CPG) organizations. Amid these challenges, they need to identify new ways to grow.
Enter generative AI, which presents new opportunities to help retailers and consumer products organizations drive growth, from optimizing processes and monetizing data assets to engaging with customers in innovative ways. How can organizations strategically deploy Gen AI for their business?
This was a core question posed to executive leaders from the retail and consumer products industry during a roundtable hosted by HFS and Publicis Sapient. Going beyond simple Gen AI use cases in the retail industry and for consumer products organizations, the conversation emphasized the importance of taking a strategic, incremental approach to Gen AI adoption.
HFS Research Report
Discover how retail and CPG executives are getting the most value out of Gen AI
“Ultimately, it comes back to: Where is the value for consumers? And also, where’s the margin for retailers and CPGs? Using AI in this big generative transformation resettles how the whole value chain, and the businesses in that chain, do business for the good of consumers and also for themselves.”
Helen Merriott , Consumer Products Lead, EMEA & APAC, Publicis Sapient
The most successful leaders strike the right balance between vision and practicality in their AI transformation journey.
This means having a clear strategy in place that aligns technology to business objectives, prioritizes data and develops the right capabilities and organizational infrastructure to quickly scale up projects.
“At the core of retail is data. We’ve been saying this for years, but now with the power of generative AI, we can create a clean data foundation much more efficiently than ever before, opening doors to value creation and monetization.”
Julian Skelly , Retail Lead, EMEA & APAC, Publicis Sapient
Data quality and strategy remain top concerns for executives, and 61 percent say their firms haven’t advanced beyond the pilot stage in their Gen AI journey. But the truth is that data doesn’t have to be perfect for it to have an impact. Gen AI enables organizations to optimize and reinvent, even with imperfect data—and creates a window of opportunity to join the 36 percent of business leaders who are already deploying Gen AI-fueled solutions.
Read the full report to discover executives’ perspectives on navigating these issues and research data that explains:
- What the top benefits are for retailers and CPG organizations that successfully integrate Gen AI
- What challenges retailers and CPG organizations face when implementing Gen AI—and what they can do to meet them
- Which Gen AI solutions leaders are planning to introduce to customers and employees within the next two years
- How to make the most out of imperfect data
- Why leaders should maintain a delicate balance between innovation and core business objectives
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