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ARTICLE · 15 FEBRUARY 2024

Retail Viewpoint: Combine Machine Learning With GenAI To Multiply The Business Impact

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GenAI's role in retail continues to grow, and is here to stay. While recent tech advancements like crypto and NFTs didn't live up to the hype, GenAI is already driving real business implications...

United StatesTechnology
Nitin Jain
Nitin Jain
Ankur Desai
Ankur Desai
Hoyoung Pak
Hoyoung Pak
Greg Adams
Greg Adams
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GenAI's role in retail continues to grow, and is here to stay. While recent tech advancements like crypto and NFTs didn't live up to the hype, GenAI is already driving real business implications that will soon expand—OpenAI's recent developer conference brought exciting updates.

Many retailers have already implemented GenAI for content creation and the automation of routine processes, especially around call centers. But we believe the greatest impact will come from mixing GenAI with machine learning (ML) in innovative ways. ML focuses on developing algorithms that analyze complex data and identify patterns, which inform predictions and decisions. Generative AI takes machine learning techniques and uses this input to generate new, original content—like text, audio, and video—from the teachings of its training data.

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