Event report

How AI, ML and ChatGPT will influence the future of the Retail Industry

IFCCI organized a webinar as a joint initiative between the IFCCI Technology & Retail Committee.

On 6th April 2023, the Indo-French Chamber of Commerce and Industry (IFCCI) organized a webinar on “How AI, ML and ChatGPT will influence the future of the Retail Industry" as a joint initiative between the IFCCI Technology & Retail Committee.      

Ms Shweta Pahuja, Regional Director- West, IFCCI & POC for the Retail Committee, commenced the session and welcomed the participants, which was followed by a welcome address by Mr Satyen Momaya, CEO, Celio Future Fashions, and Chairperson, IFCCI Retail Committee who briefly spoke about how the retail industry has been experiencing the impact that AI has had in the recent past and what the future holds with generative AI coming into play.                         

The session was moderated by Mr Krishnanand Bhat, Director- Technology Advisory, Nexdigm, who welcomed all the panelists spoke about AI’s potential, and no matter how good or advanced the AI models become, they require a human to continue their journey. 

The panelists Mr Nisheeth Srivastava, Executive Vice President & CTIO, Capgemini India, Ms Souad Tenfiche, CEO, Link Innovation, Mr Sanjay Mahar, Data and AI Leader, Decathlon Sports India, Mr Anshuman Agarwal, Co-Founder and COO, Increff, and Mr Somshekhar Mirpuri, Co-founder at Aranyani & Essensai all had a very different experiences and insightful remarks to share regarding the expansion and usage of AI, ML & ChatGPT in the Retail industry.              

The themes to emerge from the discussion were the power these large language models- AI, ML, & ChatGPT have in today’s framework & how the retail industry has leveraged them to maximize their operational efficiency- planning & execution; personalize user experience- customer satisfaction based on personalized recommendations and a feedback mechanism. AI in the past was not available to small enterprises, but today, it is accessible to a much larger audience who can reap the benefits of it being available. While these language models have several opportunities, there are certain red flags to look out for, i.e., the reliability of these unsupervised models as they may be prejudicial or biased and cannot be trusted blindly, customer data protection, job losses due to the development of AI, amongst others.                               
AI, ML & ChatGPT in today’s world are very significant and there is a constant need for one to upskill themselves to keep up with the fast-paced nature of these models.  

Mr Clifton Menezes, Executive Vice President, ADMnext Group Offer Leader & India Portfolio Leader Capgemini India, and Chairperson, IFCCI Technology Committee concluded the session by thanking all the panelists and shared his thoughts on the importance of technology.

The session was very informative and was well-received by the participants.         

IFCCI thanks the Technology and Retail Committee for conducting this webinar and all the participants for taking the time out and making this event a huge success!       

#indofrench #technolofy #retail #AI #geenrativeAI #ChatGPT #machinelearning #consumergoods #userexperience #artificalintelligence

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