Retailers can leverage the power of artificial intelligence to gain more customers as well as increase revenues.
FREMONT, CA: There are many talks about the power of artificial intelligence (AI) as it can push the retailers towards a transformation for reinventing themselves in today’s competitive market. However, several companies cannot fully utilize the benefits of AI and analytics for achieving success.
The failure to achieve success might be because these companies do not consider the human element of effective change management. If retailers want to benefit from AI, they must be a systematic organization committed to drive meaningful change and create a data-driven environment.
Engaging the People
A company can achieve real-success when it embraces the enormous organizational transformation. To do this, they need a combination from top to down leadership and extensive support among the teams, and this means the application has to engage at every level of the company.
To become a success with artificial intelligence, the companies also need emotional intelligence.
Securing the Executive Sponsorship
To administer the transformation, it is necessary to have an executive at the table who will advocate the latest technology to bring changes in the company. The appropriate executive will not only be a master of the solution, but it must also generate excitement so that there is an authentic urgency for a change and strategies to eradicate the obstacles. The executive must frame the emergence of adopting the latest solutions in terms of corporate objectives.
Achieving the advocacy needs a plan for conversing about the effect that AI can make or has already made on the businesses. However, it is not possible to bring change in just one conversation because every discussion regarding AI helps to increase the thinking process. It also enables every individual to make progress so that they can embrace the science-informed decision that always represents the value that it delivers with the latest technology.
Artificial intelligence is just like any other device that needs excellent and motivated people to utilize it responsibly and efficiently. Furthermore, the tools will also offer valuable returns, but to obtain that, the companies have to clear the AI-and-emotional-intelligence equation required for effective results.