"... algorithm-generating tools have cemented themselves as the way of the future."
Imagine being able to access data showing you how your target groups interact with your physical products in real time. Automatically.
This may sound like the stuff of science fiction, but it is in fact the reality many retailers are facing. Generative Artificial Intelligence (AI) is changing the market, and with it, the needs of customers are changing as well.
So, what could this mean for the future of retail?
To answer that question we need to ask another one: What is Generative AI? If you don’t know yet, you better make sure to learn fast, because the algorithm-generating tools have already cemented themselves as the way of the future.
Generative AI describes algorithms that can be used to create new content, be it audio, code, images, text, simulations, and videos, according to McKinsey.
Chatbot or not
Maybe you’ve tried the generative AI without knowing it, nonetheless, it’s been difficult to avoid global phenomena such as ChatGPT or DALL-E. Nearly a million people signed up to use the AI chatbot within five days of its release in November 2022, according to McKinsey.
Whether you want ChatGPT to solve an equation, solely use it for entertainment, or - as my colleague put it the other day - you are in desperate need of solid inspiration for your copywriting, generative AI has your back.
The fun doesn’t stop there. Recently, the AI-powered image generator Interior AI was launched, showing users different ways of redesigning their homes. Simply by uploading an image, browsing through a series of preselected styles and picking the one that feels most like you, everyone can now act as interior designers.
The same goes for the emerging image-generating DALL-E. Enter 5 five words and 15 seconds later, you have a ready-made series of images that you can integrate in your article concerning generative AI. You guessed right - all images shown in this article were sourced from the software.
Services similar to these are on the rise and gaining great popularity right now. Generative AI is a gamechanger, especially if you’re working within the creative field. It allows both consumers and businesses to get creative whilst removing some steps on the way.
These are just a few out of the many new creative AI tools that have potential to take over the world… and maybe your job.
