SP ON SORE D C ON TE N T
QQAASanjeev Sanjeev Khanna Khanna &&
Talking Talking with… with…
Vice President, Vice President, Tata Consultancy Tata Consultancy Services Services (TCS), U.S. (TCS), U.S.
In its recently In its recently released released Global Global Trends Trends Study, Study, TCS addresses TCS addresses the important the important role Artificial role Artificial Intelligence Intelligence (AI) is playing (AI) is playing in today’s in today’s retail retail marketplace, marketplace, and stresses and stresses how this how statethis stateof-the-art of-the-art technology technology is elevating is elevating business business performance performance aroundaround the globe. the Retail globe. Leader Retail Leader reachedreached out to Sanjeev out to Sanjeev KhannaKhanna to learntomore learn more about the about state theofstate AI today, of AI and today, how and it is how it is impacting impacting the retail theindustry retail industry in significant in significant ways. ways. Retail Leader: Retail Leader: As TCS’Asnew TCS’ Global new Global Trends Trends using cognitive using cognitive technology technology in the IT in function the IT function study notes, study “…artificial notes, “…artificial intelligence intelligence (AI) has(AI) has to dotothis); resolve to resolve users’ tech users’issue tech(63%); issue (63%); taken center taken center stage and stage is under and is the under bright the bright to do this); to automate to automate productproduct management management (63%) (63%) and and lights.”lights.” How important How important have retailers have retailers indicated indicated others.others. That isThat where is we where seewe thatsee artificial that artificial that AIthat is toAI their is tobusiness their business objectives objectives movingmoving intelligence intelligence platforms—like platforms—like TCS’ Cognitive TCS’ Cognitive forward? forward? Automation Automation SystemSystem ignio™—will ignio™—will make an make an on the on businesses. the businesses. SanjeevSanjeev Khanna: Khanna: CreativeCreative thinkingthinking is part is of part ofimpactimpact the retail theindustry’s retail industry’s full embrace full embrace of Artificial of Artificial RL:isWhat mostisimportant most important to retailers to retailers where where Intelligence Intelligence (AI). As(AI). our As newour Global new Global Trends Trends RL: What AI is concerned? AI is concerned? Study revealed, Study revealed, more than more60than percent 60 percent of retailers of retailers see cognitive see cognitive technologies technologies as as SK: Building systemssystems that continually that continually learn learn “important” “important” or “highly or “highly important” important” to theirto their SK: Building on theironown their was own thewas most theimportant most important factor factor competitiveness, competitiveness, and I see andthis I see trend this trend they identified when discussing when discussing concerns concerns continuing continuing as the industry as the industry starts making starts making they identified about implementing about implementing AI. Making AI. Making sure systems sure systems impressive impressive early wins earlywith wins AIwith and AI also and seems also seems are secure are secure ranked ranked secondsecond (and was (and thewas topthe top committed committed to improving to improving upon them uponinthem the near in the near concernconcern globally). globally). SystemSystem adoption—getting adoption—getting future. future. managers managers and employees and employees to use cognitive to use cognitive and to and follow to the follow advice—ranked the advice—ranked RL: TheRL: Global The Global Trends Trends study shows study that shows that systemssystems “passion “passion for AI isforrising AI istorising the top to the of large top of large third. third. organizations organizations more and more more.” and more.” Why doWhy do RL:do What you do think youthe think future the looks futurelike looks forlike for you think youthat think is?that Do retailers is? Do retailers see AI see as an AI as an RL: What relates as it relates to the retail to theindustry? retail industry? important important contributor contributor to theirtobottom their bottom line? line? AI as itAI SK:started It all started by retailers by retailers using AI using in the AI in the SK: Retailers SK: Retailers feel that feel these thattechnologies these technologies SK: It all traditional of traditional chat bots chat like bots Siri;like But Siri; But will have willsignificant have significant positivepositive impactimpact on bothon bothform ofform seewe thissee changing this changing fast when fastsales, when sales, revenuerevenue improvement improvement and cost and reduction cost reduction in innow wenow marketing, customer customer service,service, and even andnoneven nonthe areas theinareas which in they which invested. they invested. Whether Whether marketing, customer-facing corporate corporate functions functions (including (including we’re talking we’re talking about Amazon about Amazon using drones using drones or orcustomer-facing be will the be biggest the biggest beneficiaries beneficiaries of AI. The of AI. The Alexa, the Alexa, usethe of these use oftechnologies these technologies shows shows IT) willIT) limitation is that is most thatcurrent most current systemssystems can’t can’t that thethat future the of future AI inofretailing AI in retailing is not too is not too limitation think learn. and The learn. next The generation next generation of AI—of AI— far away. farRetailers away. Retailers also identified also identified IT as the IT as the think and what we what callwe cognitive call cognitive automation automation systems— systems— business business function function where they where most theyfrequently most frequently will change will change that. that. use cognitive use cognitive tools. Within tools. Within the IT Function, the IT Function, the the most common most common applications applications of AI are of to AI detect are to detect For more Forinformation more information about TCS, aboutvisit TCS, tcs.com. visit tcs.com. and deter andsecurity deter security intrusions intrusions (71% of(71% retailers of retailers