Technology Record - Issue 32: Spring 2024

144 FEATURE or insights into workflows and products for their employees. “Through our Copilot template for store operations, retailers can provide solutions that empower employees by giving them access to insights in the flow of work,” says Edmonds. “Store associates can use natural language to get answers regarding store procedures, store catalogues and so on in a quick, efficient manner. The Microsoft Experience Centers will be one of the first retailers to implement the Copilot templates.” New Copilot capabilities in Dynamics 365 Customer Insights allow retail marketers to build and launch personalised marketing campaigns in real-time. Several Microsoft partners are augmenting their own solutions and improving operations with AI-based tools from Microsoft. Sitecore, for example, is integrating its OrderCloud solution with Microsoft Fabric, providing a real-time connection between product, customer and order data, making it easier for users to derive value from it. Blue Yonder, meanwhile, has launched its new generative AI capability, Blue Yonder Orchestrator, which is embedded into its Luminate Cognitive Platform built on Azure. This allows retailers to use natural language to gain real-time insight into their supply chain data, predictive insights and recommendations for generating the best outcomes. Unlocking new potential Retailers are quickly beginning to realise the potential of AI for enhancing the shopping experience. McKinsey’s 2023 report The economic potential of Generative AI: The next productivity frontier states that AI-based shopping experiences have the potential to grow yearly revenue by as much as $600 billion across the retail and consumer goods industries. “AI, data and the cloud unlocks real potential for retailers to meet and exceed customer expectations in ways that were previously unavailable,” says Edmonds. “Furthermore, generative AI has the game-changing ability to empower retail customers and employees to unlock the value of their data through natural language.” According to the the AI Adoption in Retail study from Microsoft and The Futurum Group, 69 per cent of the customers said they were more likely to shop with a retailer using AI to gain more personalised choices and more efficient experiences. Choice Market, an urban market chain based in Denver, Colorado, is using cloud technology and AI in its minimarts, which are all fully autonomous and provide a seamless Customers can use Myntra’s AI assistant to find clothing recommendations using natural language prompts Photo: Microsoft/Selvaprakash Lakshmanan