During a time of huge overhauls in AI, the retail industry is hoping to reap the benefits. With the sector currently experiencing pressure to evolve to customer expectations, business leaders are keen to develop AI strategy.
Predictive AI and Gen AI enterprise leaders, SymphonyAI, has teamed up with Microsoft to bring leading retail AI software applications using the Microsoft Azure OpenAI Service to retailers worldwide. The aim is to deliver rapid and in-depth insights, in addition to creating truly connected end-to-end retail.
The collaboration extends to SymphonyAI Retail Copilots on Microsoft Azure to increase productivity, collaboration and business performance for category managers and supply chain demand planners.
Digitally transforming retail
AI opportunities, combined with public interest, are contributing to increased demand. Leading technology corporation IBM recently conducted a study which found that only 9% of customers are currently satisfied with in-store shopping experiences. Additionally, only 14% of respondents say the same for online shopping, highlighting that new technologies like AI can work to improve overall customer experience.
When it comes to the retail sector, AI holds great potential to revolutionise the industry. Companies in the industry have already launched AI platforms to assist employees, as well as hoping to elevate the overall customer experience.
Built on fine-tuned LLMs, SymphonyAI’s retail applications work to combine deep retail domain expertise with predictive and Gen AI capabilities on Azure. This is so that retailers can make fast-paced and effective decisions, as well as gaining insight into customer datasets.
Given the recent announcement of the SymphonyAI Category Manager Copilot and Demand Planner Copilot, SymphonyAI’s goal is to assist retailers in tackling challenges. Announced today (17th January 2024), the copilot is designed to generate meaningful customer insights and help users make context-aware decisions that balance business priorities.
The copilot is able to make recommendations to industry leaders and uses text and graphics to quickly communicate insights. As a result, organisations are able to make better decisions for their customers.
In addition, it is able to generate AI forecasts, as well as working to minimise waste and satisfy customer demands business-wise. Combining Microsoft and SymphonyAI’s platforms will enable retailers to reap the benefits of wide-ranging AI services.
“SymphonyAI’s retail solutions combine deep retail domain expertise with leading AI capabilities to deliver transformative, quantifiable business impact,” says Kumar Abhimanyu, SVP of Strategic Partnerships at SymphonyAI. “Exquisitely crafted to deliver success in today’s challenging retail landscape, this innovative collaboration leverages predictive and Gen AI on the Microsoft Azure platform to deliver a powerful productivity and efficiency boost for innovative retailers worldwide.”
Microsoft continues to grow
This partnership also continues Microsoft’s increased investments into the AI and technology sector via its Azure services. The tech giant recently partnered with Vodafone, as reported on our sister publication Data Centre Magazine, to overhaul the company’s digital strategies, which includes Gen AI. Microsoft aims to apply the Azure OpenAI platform to deliver real-time and hyper-personalised experiences across all customer-facing services of Vodafone.
“Through integration with Azure OpenAI Service, SymphonyAI’s retail applications will deliver measurable value to retailers and CPGs,” says Keith Mercier, General Manager of Worldwide Retail & Consumer Goods, Microsoft.
“Next-generation predictive and Gen AI tools can help transform retail by enhancing operational efficiency and supporting end-to-end connectivity from the store to corporate. We look forward to continuing our work with SymphonyAI to bring transformational productivity, accuracy, and shopper engagement to the retail and CPG industries with generative AI.”
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