The use of generative AI technology has gone beyond being interesting for retailers. It is now the foundation of software business applications that make businesses operate better and faster. This comes from a report from Coresight Research and Digital Wave Technology.
Generative AI technology is being used to improve product design, create products, enhance the description of products, and come up with advertising ideas. Retailers can also benefit from AI productivity.
AI can also help with the brainstorming process, and marketing teams can focus on new campaigns and strategies while AI does the legwork. Generative AI, when properly trained, can correct errors, avoid translation errors, and recommend languages for a specific region.
As someone who uses AI daily to help with my company’s marketing and creative initiatives, I can safely say that the team has an extra set of hands – and a brain that can help make things more creative. AI can also provide insight into customer preferences and identify those preferences.
AI tools such as Hotspex have been successful at engaging viewers, with a 12% increase in video ads watched to completion. AI can be useful in continuously improving products, especially in identifying issues early in development. Partnerships with AI experts can help. Since retail businesses need to consider the risks and benefits of using generative AI before deploying it, they need to plan those risks with the Chief Information Security Officer.