Where AI Is Impacting Retail and eCommerce Today - With Guru Hariharan of CommerceIQ

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So Guru just to get things off the ground. I really want to get your perspective on where you see making a the difference in ecommerce today if we just freeze the tech today and we look at where it's making a difference on. What are those areas that are biggest in your opinion Denver? Thanks for having me on the show. Of course as the apply to e commerce are a few things which it can have some pretty significant impacts and of course there's a lot being said tons of custom expedience which is the most obvious thing where can include experience of the shopper. Coming into the store or coming coming in online and others but I want to talk a little bit about some of the back offices. If you may've that has not been talked about much which is Sales Marketing and supply chain those are areas which have amazing amount of opportunity in terms of the data. That is flowing thumbs off the deputy of tasks that can be automated the opportunities in those areas and a lot of top tier companies automated and end apply to improve their sales efficiency marketing efficiency and supply chain efficiency when starting with dog companies like Amazon. Yeah well obviously the Amazon is pretty. Well aggregating this whole space That certainly your guys focused as well so you wanted to knuckle down on the sales and kind of supply chain side of things here grieve. You're voting off to. I'd love to if we could start with sales. That'd be cool because I'll be honest with you. When it comes to e commerce I would everybody thinks of and probably where most of the action in is with a I and I think you'd probably this yourself is going to be on the marketing on the consumer purchasing side? Right what offers in my face. How big is the button? How does it show up on these different devices? What kind of e mail campaigns do I get right? It's a consumer clicking a button in swiping their visa. But you're talking about sales. Where do you see sales playing into the mix of common? Where does get in there? That's a that's a great question. So let's let's start off before we get into the application of AI. Let's just spend a few seconds to think about how sales sales is enabled on ECOMMERCE shirt. Accompany like Kellogg's are a kimberly-clark if you are to sell products that so you're selling die. buzzer selling curiel cereal boxes. How do you sell howdy enables sales teams on? How do you sell on retail outlets whether it be e commas whether whether it be a kroger store Walmart store? Typically what happens for decades out there for a century from a sales standpoint Kellogg's along our kimberly-clark is employing a top negotiator. The hiding from an Ivy League and like an NBA and teach them how to Gauthier Arkansas are Cincinnati to have a conversation and negotiation with Walmart are a kroger over dinner table and they have a process called the joint business. Plan talk through a number of options to invest on. How how can I buy all these The majority of the space that is dead in the diaper Iowa. The cereal of your store. Can I get the space right next to the cashier's without doesn't impose Opportunity things of that nature. All of these things have been traditionally done and balking century for decades in for more than a century in a setting which is a human to human interaction's our cable. So now let's flip order. Twenty twenty majority of sales sales which is happening on e commerce does not happen that way in fact if you enter Amazon our copier ECOMMERCE and growing companies like Walmart Dot. Palm are are Instead God another. You don't have people on the other side who can have conversations and Negotiate these these deals in fire. The language of this speak is dot of data. They would expose for instance Amazon exposes a bunch of data files through a Puerto. And if your Kellogg's you're expected logging into a portal figured out. How sales happening which sealed boxes are selling more on and not wait? Am I getting the right. Customer Feedback House might rent. Doing supply efficiency everything is codified in Puerto inside and communicated the data. So if I'm Kellogg's might old ways of human to human interaction's completely breakdown because guess what does not human on on the other side. What do you do so that element of sales has a seismic shift as a huge disruptive? Change that is happening right now. The market where sales needs to be completely codified into a machine. That's probably what we call out. Intelligence right yeah. So interesting. Listing big dynamic. So I'll just kind of try to sum this up then we can poke into the AI. Part I appreciate you kind of I guess setting the table for the topic. I think a lot of people do associate sales with the old old school song and dance. Bring a briefcase. I buy you a Scotch I ask you about your kids and then I talked about. Can I get this floorspace. Can you buy this kind of quantity. Not what do I gotTa do to have you purchase our product instead of general mills. You know whatever the case may be right but you're talking about now Amazon Amazon a platform. So the only thing that they're vendors are going to see sort of dashboards and that this is now changing the game on on how we do business do sales. How do you sell to a dashboard board in other words? What is now sales replaced with? So that's Let me think about selling into a company with speaking the language of data which is selling to a dashboard. You don't think about applying negotiation tactics from an from a human perspective. But can you a blind negotiation tactics using Using data so for instance. If I know that you're under sodded on a sudden which is getting to be an important key? What on your website aside? Let's say for instance Kito Cereal Boxes Keita's attending dumb and people eat cereal so they're searching for Kito cereal now if the industry does not have house keep those cereal. It's opportunity for you to identify those items in your assortment. which have the right ingredients and stock marketing outselling those items against those keywords on an overall basis as you mentioned if you're a salesperson Trying to get your products into a store. A stores a very deterministic concept offline. Would you walk into a serial and that's it. You'll find your cheerios. You sign find a gentleman's Products you find everything that needs to be there in that one. I'll when you walk into the e commerce store and I say walk in with a quote Unquote Ya. Am you walk in you walk. In using search thumbs and these search dumps could be a combination of keywords that type in it could be lane lane on cereal boxes could breakfast. Cereal could be snack. BOC CEREAL KITO cereal organic cereal. What would maybe there could be thousands of such keywords which make up the quote unquote digital? I'll now it's up to you as a brand to figure out where should I sell. And and how should I sell. which products do promote? which products do I given incentive for the shop or through a coupon and things of that nature and if if you think about the explosion of combinations that has happened over there? You've got thousands of key woods and save a few hundred products that you sell and you have essentially do that matching and start to push them the right level so that you're able to maximize that are done on your sale. Spend and trade spending such available due to drive. Maximum profitable sales on ECOMMERCE website

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