New research from First Insight found that retail CEOs and their management teams have very different perspectives when it comes to artificial intelligence’s potential uses and benefits. For example, CEOs are only half as likely to view predictive analytics as a top application with promise when compared to their management teams.
This gap in AI perception could have an impact on broader strategic implications for the retail sectors, and it indicates that CEOs are overly focused on using AI for cost savings, business transformation and improved customer experience while dismissing its potential to propel innovation forward.
The use of AI in retail can be a game-changer, but it is largely untapped, said First Insight CEO Greg Petro. This research should push CEOs to close the perception gap with their management teams and align expectations and strategies to harness artificial intelligence’s unrealized potential to transform the retail sector.
