Don’t ‘boil the ocean’ if you’re to make the most of AI, says Kingfisher leader
Successfully deploying Artificial Intelligence in retail will require businesses to focus on a handful of areas where the technology can really make a difference.
That was the message from Kingfisher CEO Thierry Garnier today as he addressed a packed audience at World Retail Congress in Paris.
Garnier told delegates that retailers need to identify specific ‘use cases’ where they are confident AI can drive efficiencies across the business. In the case of Kingfisher, four have been identified, starting with the management of markdown and clearance. The European DIY giant then ‘goes deep’, applying the technology across every banner and market.
Garnier warned that otherwise ‘it is easy to boil the ocean – every day someone will come to you with a big idea and in the end you do very little.’
In a wide-ranging on-stage interview Garnier also discussed the impact of his time based in China, where he spent seven and a half years heading Carrefour’s business there. ‘My time in China was a critical personal journey,’ the former engineer said. ‘I’m a perfectionist engineer but you can’t survive in China as a perfectionist engineer – you need to run faster and make mistakes. It has helped me be a better leader back in Europe.’
He referenced Covid-19, when Kingfisher quickly mobilised its store teams overnight to focus on picking and click and collect, as an example of the business being nimble and able to move fast in a crisis.
Garnier also singled out the launch of its marketplace offer as a key initiative for the business. He described how it has gone from a standing start to £200million Gross Merchandise Value of sales in two years.
