Retail’s low understanding of how to embed AI could be costly
Leading Tech Expert At Kurt Geiger Shares Insights On AI Opportunities And Challenges
Low understanding amongst UK retailers about integrating AI could limit the effectiveness of their marketing spend and the productivity of their workforce, argues a leading technology expert at a global retail fashion brand.
Speaking on law firm Irwin Mitchell’s latest ‘Business But Better’ podcast, Gareth Rees-John, chief digital officer at Kurt Geiger, discusses the opportunities and challenges faced by retailers in relation to the latest technology, particularly AI.
He said: “There are many ways the retail sector can use AI, but it’s a bit of an overused term generally and there’s actually low understanding about what it is and how the technology can be integrated.
“For many retailers, it depends on where they are on their evolution as a technology company and a retailer. Understandably, tech can be a smaller part than retail, but it’s a really important as customer demands and interfaces change.”
Highlighting some of the ways in which AI can be used effectively in the sector, Gareth discusses how large language models, such as Chat GPT, have developed recently to not only drive customer service efficiencies, but to allow retailers to use chatbots which are less robotic and can communicate using the retailer’s tone of voice.
He also highlights the huge opportunities of using AI in creating a truly personalised shopping experience and how, if done correctly, it can allow marketing budgets to be spent more effectively due to highly targeted advertising.
Finally, Gareth explains how AI can drive significant improvements and efficiencies in business processes.
Gareth, who is joined on the Podcast by Irwin Mitchell’s chief security officer and head of innovation, Graham Thomson, discusses some of the challenges including ethics, compliance and data.
There is a focus on jobs with Gareth saying AI can remove admin tasks and empower people to be more analytical as well as use their humanity, empathy, creativity to the role to solve problems more quickly.
He said: “There shouldn’t be a fear about the impact of AI on the workforce. Retailers should be thinking about how AI can make roles more interesting. They should be encouraging their people to understand how to use it. It is important to get them to play with it, open doors, and be curious.”
He added: “All of the stuff that you need to be a great leader or great business still holds true. Those that have a strong brand, who look after their people, who make sure everything is buttoned down from legal point of view, are always going to be successful. The human element of curiosity and the keeping an open mind to how AI will affect your businesses crucial.”
Irwin Mitchell’s Business But Better podcast is available on all major apps including Apple Podcasts, Captivate.FM, Spotify, and YouTube
