Companies have been making major investments in AI in the last year, hoping to streamline processes both in-store and online. Though the, told the audience at the WWD Apparel & Retail CEO Summit that there are still a lot of questions surrounding AI.
What both of these examples show is AI’s ability to make sense of the tail of data and make informed predictions accordingly. “In the end though, it is human beings making sense of that data and doing something about that data that is ultimately most important,” said Fried. “Thinking about this as a powerful tool that allows you to make predictions, but also needs human beings to be able to activate on it is what it’s all about.
Moreover, Fried joked that it may be “a potentially provocative statement for everyone in the room, but I think for your consideration, AI should probably be the most boring thing that you do in 2024.” In a lot of ways, he said, a ton of new AI solutions are popping up and while some of those are incredibly interesting and experimentation is positive, “foundationally using AI to impact marketing efforts and the different divisions within your business is going to be what’s ultimately critical.
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