GENERATIVE AI: THE FUTURE OF FASHION
Is Artificial Intelligence the future of fashion? According to retail executives and industry insiders, it just might be. Generative AI, the new kid on the block, is taking the fashion world by storm, and it’s revolutionizing the way retailers and brands connect with consumers.
Jill Standish, global retail lead at Accenture, believes that generative AI is truly human by design, providing relatable and relevant experiences to consumers. A recent survey showed that 76% of executives see generative AI as more of an opportunity than a threat and beneficial to revenue growth.
Alyx Kaczuwka, director of AI product development at XY Retail, thinks AI can revolutionize the retail industry, creating intuitive and efficient stores and enhancing the customer experience.
However, before jumping on the generative AI bandwagon, retail executives need to consider a top-to-bottom assessment, understanding the different types of AI and ways to utilize it. Data management readiness, change management, and identifying specific use cases are crucial before making the investment.
Generative AI can offer unparalleled benefits for retailers of every size. Amazon Web Services’ Justin Honaman believes it will transform the retail experience and provide tools for retailers to enhance productivity, efficiency, and customer experiences.
Ultimately, the primary focus when deploying generative AI is how it can enhance the customer experience. Retailers must prioritize customer experience and use AI to improve pre-existing issues and pain points, rather than simply automating repetitive tasks.
What do you think? Is generative AI the future of fashion retail? Sound off in the comments below!
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