The Future of FMCG & Retail: How AI Is Reshaping the Industry and Creating New Business Models (2023)
Introduction
Discover how AI is revolutionizing the retail industry with our comprehensive report. From chatbots to inventory management and personalization to fraud detection, we cover it all. Get insights into the latest developments in AI and case examples from major players like Amazon, Walmart, and Coca-Cola. Our original research and expert insights will help you understand the challenges and potential of AI in retail. Find out what human skills are required to navigate this revolution and stay ahead of the curve. Whether you're a retailer, FMCG manufacturer, a marketer, or just interested in the future of retail, this report is a must read. Overall, this report provides a comprehensive analysis of the impact of AI on the retail industry, its potential growth prospects, and the investment opportunities available to stakeholders. It highlights the various applications of AI in retail, and how it is transforming the industry.
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Companies included: OpenAI, Amazon, Meta, Walmart, Unilever, Coca-Cola, Carrefour, Alphabet,WPP, Instacart, Nestlé, Shopify, GM, Microsoft, IKEA, Nike, Hugging Face, Shein
The Future of FMCG & Retail: How AI is Reshaping the Industry and Creating New Business Models Features & Benefits
- In-depth coverage of AI applications in the retail industry, with case examples from major players like Amazon, Walmart, and Coca-Cola Insights into the latest developments in AI, including OpenAI's GPT-4 and Google's Bard chatbot
- Discussion of the challenges and potential of AI in retail, with a focus on issues like fraud detection and personalization
- Analysis of the human skills required for the AIrevolution, including prompt engineering and data analysis
This report highlights the numerous benefits of AI in retail and provides valuable recommendations for retailers looking toadopt AI-based solutions.
Our original research and expert insights will help you stay ahead of the curve in the rapidly evolving retai landscape.
Discover how AI can enhance customer service, inventory management, and personalization with real-world examples and data.
Understand the latest developments in AI and their impact on the retail industry, including the potential for mass personalization and new product development.
Gain valuable insights into the challenges and potential of AI in retail, including the organizational and ethical challenges that retailers may face.
Enhance your understanding of the human skills required for the AI revolution, including how to become a prompt engineer and other key roles.
Learn how retailers can improve efficiency, reduce costs, and provide personalized experiences that will result in increased customer loyalty and revenue by embracing AI.
Key Questions answered
How is AI changing the retail industry?
What are the benefits of adopting AI in retail operations, what are the disadvantages?
How can AI improve customer experiences and loyalty?
How do AI-powered solutions for inventory management, pricing optimization, and supply chain operations work inpractice?
How can AI help retailers improve efficiency and reduce costs?
How does Amazon use AI, how is it affected by it?
How does Instacart use Chat GPT, what is Carrefour’s approach?
How do the FMCG giants get a foothold in the new game in town?
What is Unilever’s unique approach?
What will happen to Google search and its ads business? What will happen to SEO as we know it today?
Will there be job losses or massive productivity gains or is the AI topic too hyped up to be able to deliver on its promise?
- Executive Summary
- The shortest introduction
- What is a Generative Pretrained Transformer?
- What is a LLM?
- Latest developments
- OpenAI new model GPT-4 is more creative
- Tackling but not fixing hallucinations
- The improvements of GPT 4 vs ChatGPT
- OpenAI is now a fully closed company
- Google’s Bard chatbot launches in US and UK
- Google’s Bard and DeepMind to collaborate
- How to use generative AI in a retail context
- Chatbots - customer service, search, checkout
- Market Research, Inventory management, fulfillment
- Setting prices - dynamic alignment
- Personalisation, marketing content creation
- Fraud Detection
- Case Examples: Retail and AGI
- Amazon: the most important player in the AI eco-system (AWS)
- AWS partners with Hugging Face
- AGI to drive a boom in cloud services
- Integrate AGI with Amazon
- Alexa and ChatGPT?
- How 3Ps use ChatGPT on Amazon, e-books
- ChatGPT on Amazon
- Walmart AI: Text to shop, GPT-3
- Shopify Magic, based on ChatGPT
- Carrefour: ChatGPT creating videos
- Instacart and ChatGPT, recipe builder
- Instacart and ChatGPT, shopping lists
- ChatGPT and FMCG
- Inventory optimization and supply chain management
- Route optimization, Quality control
- New Product development
- Case Examples: FMCG and AGI
- Coca-Cola and ChatGPT
- Unilever ChatGPT - how to scale up the UX
- Unilever ChatGPT: mass personalisation
- Nestlé and AI
- GM & Microsoft develop a ChatGPT virtual assistant for cars
- Advertising and marketing
- Bing AI ads in early pitch to advertisers
- WPP and its Chat GPT clone
- Meta and AI
- Meta and AI - A/B testing to infinity
- What will happen to search?
- Will AI replace Google/search?
- And what is Google’s reply?
- The costs of AI queries versus standard Google costs
- Potential reputational damage
- Microsoft limits Bing chat to five replies
- When it all goes wrong…
- AI challenges - job losses?
- Data Quality, Technical Expertise, Cost
- Organisational challenges, ethics and shopper acceptance
- Hallucinations & other issues
- Experimentation phase
- A day in court
- Unintended consequences
- What human skills are required for the AI revolution?
- How to become a prompt engineer
- Outlook
- Outlook and recommendations
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