Walmart, Amazon, Johnny discussed on AI in Business?

AI in Business?
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Automatic TRANSCRIPT

Nineteen none probably come to faster than retail. The transition to e commerce has been swift has been unprecedented. And there's a lot of changes in terms of how retailers are having to approach interaction with their customer yes moving to digital yes moving to online but also how do we keep loyalty. We don't get to see them in person. How do we compete with the big players like amazon who stepped up to such a massive extent during covid and be able to compete realistically in our own niches in with our own businesses. We speak this week with someone who has an awfully sharp take on that space. Deb johnny depp. She's the ceo of zion. Ones one is a a i based personalization firm in the bay area. They've raised some fifteen million dollars. And if you go on their homepage you'll see brands like men's warehouse and even some financial services firms that they've worked with this week. Johnny speaks to us about two topics number one. How is she seeing the retail world reeling and responding to cove nineteen. What are the changes that are happening. What's the perspective boots on the ground in retail. Secondly i think this is a really interesting. Take what is sort of the scale of maturity of personalization where can companies start. And how should they think about first projects for building recommendations in personalization into their experience. She lays out a number of potential use cases. Companies could apply as well as some rules of thumb about sifting and sorting through those projects and thought that they were awfully helpful. If you're interested in learning more use cases in terminology for a i in retail be sure to download our ai in retail chichi you can go to emc. Rj dot com slash r. e. t. one that's not like retail than the number one. You can simply download our ai and retail chichi for free. It's a pdf guide. That hopefully give you some additional use cases on top of what you'll learn in this episode that's r. rj dot com slash. Our eighteen one without further. Ado this an awful fun episode and a lot out of it. This is deb johnny. Deb with zayn one here on the a in business podcast. So did johnny. We're gonna be talking about the transitions forward in e commerce in retail world. You guys are in the cutting edge of recommendations personalization. But i think the space is fascinating by itself. But we're now in this whole shift of the cove era that we're not out of yet. Maybe you and i both would have thought by now. We would be but we're not. How do you see the e commerce world bending in shifting to accommodate customers in this new system. What's the zeitgeist changed from your perspective. One question daniel. It's been fascinating to see this. You know as covid hits you know everything to set up a bit of a lockdown shock and all right. I think it has evolved into fascinating said those aspects. You know we see that. Governor actually publish says certain parts of the commerce spectrum sporting goods a groceries electronics exercise equipment really is at the forefront like really sort of popping in regards to their performance had there is the brick and mortar stores that are suffering in having trouble because people are not as much in the malls. One thing that is common through across all of this really is that the move to digital what would have happened in three years really has been in a condensed time frame of six seven months. If you would where the direct to consumer revenue through ecommerce have really sort of evolved very fast has in fact. Put a lot of pressure on these folks to do a lot more very fast. I have conversations with you know very large grocers things that they were thinking with three years out in regards to buy online. Pick up at store area functionality. Things they've had to do it overnight so there are things in technology that got in amazing push via day at m l. Just pure automation. That would have been much further out happening in a month timeline. Yes so we're seeing. I think this common idea of this being an accelerator to existing digital trends. I think is true as true in retail ecommerce says anywhere else in the if not more so clearly. You're seeing that. One thing that i think is easy for a layperson to observe or even a market researcher like myself to observe. Is that many of the firms in the mid market or even smaller large firms mostly or in integrate many cases seem to be kind of modeling the functionality of the big players who are a little farther along you mentioned pickup app store or whatever. I don't know how long ago was that walmart. Put that stuff out. I imagine they were somewhere on the cutting edge there. there's all kinds of maybe online promotions. It folks are doing. What are the kinds of new ideas that are that are entering this space. And what percentage of those are directly inspired from whoever they looked to as bigger competitors versus drawing from other industries. What are you seeing. Start to populate the new capabilities space of digital so. I think you know this has been to a certain extent a little bit of a if you would the covid every for mid market to the lighthouse customers. If you will because now the common languages everybody got to be digital ride. So the pressure is equal in regards to the sort of evolution. So you know the things that we are seeing. You know commerce right. It's a big one you know the adoption off. Cd b.'s customer data platform so that they understand the customers in a common way has become very part of the conversation the deployment of a and m. l. technologies that allow them to react to these customers. Sort of better. In a more competitively you would has become part of that conversation. All of them sort of leading to so the what does it take to get that edge in very pressurized environment which sort of covid has enabled so to a certain extent. We are seeing the tips off a new things that are coming along such a stash less commerce such as the rise of data the rise of aml technologies and so on so forth. Yeah i guess this kinda leads us in the direction of the next question which is what the the maturity in life cycle of those technologies actually looks like because a lot of firms are just making this wild swing into digital. Everything's moving so much faster than maybe they would have presumed and they're thinking about where to get started. I think a lot of people admire what amazon does but there's so many things amazon doesn't mean we can leave the warehousing and logistics out of it. Just talk about customization terms of your email prompts in promotions customization terms of. What's on your homepage. What's on individual product ages on your add to.

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