ChatGPT and Retail

Reality, Hype, What's Next, and How to Prepare

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About This Report
ChatGPT has fast become one of the biggest buzzwords in retail. But retailers remain cautious over its potential pitfalls, especially concerning direct interactions with customers. We delve into the future of generative AI and provide actionable steps for retailers and brands to prepare for its rise.

Executive Summary

ChatGPT, a language model developed by OpenAI, has fast become one of the biggest buzzwords in retail. The model, launched as a prototype in November 2022, is the latest iteration of the AI technology promising to revolutionize ecommerce. But retailers remain cautious over its potential pitfalls, especially concerning direct interactions with customers. So where exactly will ChatGPT, and generative AI broadly, have the greatest impact in retail, and what are the most and least promising use cases for the technology? In this article, we delve into the future of generative AI and provide actionable steps for retailers and brands to prepare for its rise.

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Table of Contents

  1. Executive Summary
  2. Where will generative AI have the biggest impact?
  1. What are the most and least promising use cases for generative AI?
  2. How can brands and retailers prepare for AI’s rise?
  1. Sources
  2. Media Gallery

authors

Carina Perkins

Contributors

Suzy Davidkhanian
Principal Analyst, Retail & Ecommerce
Daniel Van Dyke
VP, Content
Yoram Wurmser
Principal Analyst