In challenging economic times, industries continue to look for enhanced productivity, cost reduction and new growth paths, as technological development is an essential tool. For instance, the widespread issues caused by CrowdStrike’s outage highlighted the importance of technology in maintaining services, on both a small and large scale.
According to Euromonitor International’s Voice of the Industry Survey 2023, nearly 60% of respondents agree that artificial intelligence will impact businesses in the next five years. This technology has gained momentum due to several potential uses, such as process automation, data analysis, customer service personalisation and online fraud detection.
Equally relevant, Generative AI systems revolve around content creation and personalisation, having several applications across industries. Aiming to improve the customer experience, Carrefour has launched Hopla, a shopping assistant based on Open AI’s ChatGPT in 2023. Consumers are increasingly using ChatGPT in their daily life planning, and Hopla aims to offer support in purchase decisions based on budget, diets and menu ideas, while connecting consumers with Carrefour’s brand.
In the coming years, automation, cloud, the Internet of Things and AR/VR are also expected to impact business operations and receive increased investment. As digital transformation is on the rise, companies should carefully align their strategic goals and internal capabilities to support long-term investment and make the most of technology’s potential in operational or consumer-facing facets.
Read our article Strategies for Navigating New Business Models, Channels and Shoppers for more analysis on new business models and channel expansion in Retail.
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