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Automatic TRANSCRIPT

As we move forward it's not about eliminating waiver holistically it's about changing the way that the stores are designed and stores are created to serve the customers the experiences that customers have within real estate or retail and then again changing the way that the labor force actually interacts with customers so for instance you may not just have people manning the checkout lines or are lining up to to help people in that way you actually may have them walking around serving you a little bit better as you walk through the store rather than you walking in looking for somebody to help you you actually might have an opportunity for the serve you better that way what is machine learning can you translate for a for a for for my audience chaps absolutely so the three main topics then we start with data we have data machine learning and artificial intelligence so what it means politically when we collect data about you as a customer we begin to understand just a little bit about what you're doing so for instance if you walk in the store you move around the store you move between different departments we know something about you now we can apply machine learning is that we can actually run some data to under in the past few to have taken maybe the paths that others have taken in that store so the machine learning is running programs on top of data to begin to learn more about your customer behaviors and tie that to other data so after a while when we learn about you and we learn about other people who may a walk there certain passers store we might be able to find the most profitable path in that store and that's where the artificial intelligence comes in so we start with data the data becomes a mechanism to learn more about things that you do human behaviors whether if you're a customer or an employee and then after a certain period of time that machine learning can actually come up with recommendations how do we serve you and again that becomes more the artificial intelligence our thanks embracing S. because banks worry all the time about security yes so absolutely so the the financial industry and banking because you know you think about all of the real estate you have to pay for specially in a city like Manhattan there's a lot of space that you pay for but how is that utilized so when you're opening new locations where should you open a location that people need to come in and physically do banking with you so that industry just as you described it has changed substantially given the way people do banking today so in that industry was same thing with so you talked about was walk based it's important understand are we actually utilizing all that expensive real estate or are there other ways to serve our customers should we have a different type of design for our branches now that they're doing banking differently and we can help all of the you know in the financial industry learn those things artificial intelligence is such a big umbrella it's involving all the top that's correct and where's it going so a year from now what are we going to talk about in terms of where a I is what Sally who's paying for right so right now it's an opportunity in its strategic so if your and again as I I I mentioned IDC did a study and there's a number of other service looking and talking two executives everyone starting to invest and you have companies like Amazon and Google for really forcing this because they're using again as we talked about using artificial intelligence to help do targeted marketing to help design their stores there helping with all of the the curbside pickup in ways to understand how their customers interact with products as I mentioned in the automotive industry if you have Google home or or any of the Amazon products we have the speakers that sit in your home there's all of this technology that's starting to become something that we're all used to interacting with like if you have Seery on your iPhone you when you're starting to talk to that computer it's how you know back to the Star Trek so we're getting to the point now where it's actually happening so everybody is a conference here and in ten years ago wasn't there all interacting with artificial intelligence and what's going to happen going for it's going to become more a part of all of our lives and especially in retail because retail is one of the last areas where it really hasn't made an impact but it's starting so I would say in a few years is going to be part of everything we're doing Joe can is stratecast director of data science and analytics and what he's talking about is a growth model that is it's very difficult to imagine except for I see the buzz around me here at the national retail federation and I see now that what where we work in retail is equivalent to where where science was with analog phone not with it before we went to