The big takeaway: Generative AI holds significant promise for retailers. Not only can it power a better customer experience, but it could eventually become a more sophisticated form of predictive analytics, giving companies actionable insights into everything from the best locations for new stores to where to target investment.
However, its applications in the short term will be limited as companies work out how to implement generative AI without risking customer ire or giving away too much information on the inner workings of their businesses.
Go further: Check out our report on ChatGPT and Generative AI for more on where the technology will have the greatest impact.
This article originally appeared in Insider Intelligence's Retail & Ecommerce Briefing—a daily recap of top stories reshaping the retail industry. Subscribe to have more hard-hitting takeaways delivered to your inbox daily.