The world of retail is on the cusp of change powered by Artificial Intelligence and Internet of Things. Kelly Stickel, Founder and CEO at Remodista, shares with us how AI for retail business will continue to play a huge role in the retail industry, and how that will impact consumers. Read on!
What inspired you to start Remodista? Tell us your story.
In 2010, I was building conferences focused on mobile technology and retail brands. At the time, the conversation focused on SMS and MMS. However, I did not like the way conferences were being organized. I chose to study, break down and rebuild how we buy and sell technology in the retail industry. The modern buyer prefers collaboration and education, and thus Remodista was born.
Could you share an overview of your core offerings and how it empowers retail businesses to solve critical challenges?
We conduct research and analysis around things that haven’t happened yet. We focus on the business disruptions happening in retail, finance, and technology. In addition, we have a Women2Watch program that allows us to help women leaders take credit for the challenges they are solving looking at the future of retail.
How will AI for retail business transform the eCommerce space and make for a better online shopping experience?
Artificial intelligence is transforming eCommerce and business operations everywhere! AI is transforming brick and mortar stores that will then transfer to eCommerce platforms as well. AI is building algorithms that allow companies to make real-time decisions that get more accurate and precise over time, thus allowing for more efficiency.
How can early-stage eCommerce businesses and startups implement AI to streamline business operations and improve overall work efficiency?
AI can be used in many areas of retail. Quantum computing and data allows retailers to build on machine learning. In merchandising, the speed and power of AI allow retailers to spot micro trends with more efficiency. Chatbots are another way that AI is gaining traction.
Give us your take on the future of retail technology? Any trends and predictions that you foresee?
- The future of retail is live customer engagement, coupled with AI, web, mobile – and IoT will connect the dots.
- We will continue to see brands, that might not have partnered in the past, coming together to create experiential moments focused on customer acquisition.
- We will start to see retailers automate the business and push departments together in hopes of making the customer journey more seamless across channels.
- We will also witness more shops that allow you to try the product and then purchase online and have it sent directly to your home.
How is AI slated to grow and play a larger role in retail and eCommerce industry?
AI is going to play a larger role in every industry that is out there today. Using data to make smarter decisions is key in any business.