Tuesday, December 5, 2023
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Restaurant & Hospitality

Artificial IntelligenceDigitalDigital StrategyProduct ManagementRestaurant & HospitalityRetail

Resurgence of Retail: U.S. Holiday Spending Surpasses Pre-Pandemic Levels in 2023

Carsten Krause 0 Comments 17 min read

The 2023 holiday spending in the US is expected to exceed pre-pandemic levels, with an average spending of $1,652 per consumer, marking a 13.5% increase from 2022 and signaling robust recovery in the retail sector. Consumer confidence, revitalized retail, and the symbiosis of online and offline ventures are reported to drive this growth, requiring retailers to adjust their strategies accordingly. The future of retail foresees a blend of in-store experiences with the convenience of online shopping in response to evolving consumer preferences.

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Digital StrategyDigital TransformationRestaurant & HospitalityRetailSupply Chain

CDO TIMES in depth Retail Trend Analysis – Part 1: The Role of AI in Revolutionizing Forecasting in Retail

Carsten Krause 0 Comments ,  28 min read

AI-driven forecasting is transforming the retail sector by offering greater accuracy and efficiency in predicting market trends and managing inventory. This technology has been adopted by leading retailers like Walmart and Amazon, resulting in optimized inventory, reduced waste, improved profitability, and enhanced customer satisfaction. The approach, expected to evolve further with advancements in machine learning and deep learning, delivers vital tools to navigate complexities of contemporary markets.

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AI StrategyDigitalDigital ArchitectureDigital DNADigital StrategyMarketingRestaurant & HospitalityRetail

The Digital Retail Odyssey: Charting the Course for Tomorrow’s Retail Landscape

Carsten Krause 0 Comments 4 min read

This series explores the digital retail revolution, focusing on how AI, IoT, and data analytics are shaping the sector. Predicted growth in AI and IoT indicates a shift to personalized, data-driven retail models. Topics include AI in forecasting and personalization, supply chain transformation through micro-fulfillment, IoT in manufacturing, and AI’s role in enhancing customer experience. The series aims to equip retail industry leaders with strategic insights for navigating these technological changes.

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AI StrategyDigitalESGRestaurant & Hospitality

Navigating the Future Plate: Digital Technology Strategy in Food Service and Restaurants

Carsten Krause 0 Comments 26 min read

The food service industry is undergoing a digital transformation, profoundly affecting operations and customer engagement. The shift involves adopting technologies like AI and digital menus to personalize and enrich customer experiences. Operational efficiency is being enhanced through innovations like smart inventory systems, blockchain traceability and integrating robotics in kitchens. Today, sustainability is a crucial concern, and digital tools are enabling more environmentally friendly practices. Businesses that adapt to these advancements stand to reap significant benefits in this competitive and rapidly evolving industry.

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AI StrategyArtificial IntelligenceDigital DNADigital TransformationFood & BeverageRestaurant & HospitalityRetail

The Retail Renaissance: Unleashing the Trillion-Dollar Potential of Generative AI

Carsten Krause 0 Comments ,  ,  24 min read

Generative AI’s transformative potential in the retail and CPG sectors is unequivocal. It promises to reshape customer interactions, enhance productivity, and unlock unprecedented value. However, as retail and CPG organizations embark on this technological journey, they need to strategically involve humans in the process and ensure robust security measures. Embracing this technology also means gearing up for new quality control levels and pre-emptively addressing potential security vulnerabilities and privacy risks. In a nutshell, as we usher in this new era of generative AI, it’s not just about maximizing potential but also effectively managing the change that comes with it. The retail industry’s future is here, and it’s powered by generative AI.

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Innovation techniques
Artificial IntelligenceCustomer ExperienceDigitalDigital ArchitectureDigital Experience PlatformDigital StrategyRestaurant & HospitalityTechnology

The Robotic Revolution: AI and Automation Reshaping the Restaurant and Hospitality Industry

Carsten Krause 0 Comments ,  ,  ,  ,  8 min read

In the frenetic world of hospitality, technology has long been a quiet co-conspirator, streamlining services and personalizing experiences. Now, we’re at the brink of a new era: a robotics and artificial intelligence revolution, changing the way we dine and travel. As we move further along this decade the robotics and – See more –

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Artificial Intelligencedata strategyDigitalDigital ArchitectureDigital StrategyDigital TrendsEditor's PickFood & BeveragehospitalityRestaurant & Hospitality

How AI is Revolutionizing Quickserve Restaurants: Virtual Cashiers, AI-Drive Thrus, and More!

Carsten Krause 0 Comments ,  ,  ,  ,  4 min read

The quick-serve restaurant industry is undergoing a technological revolution, with artificial intelligence (AI) playing a central role in streamlining operations and improving the customer experience. From virtual cashiers to AI-powered drive-thrus and delivery robots, the possibilities are endless. In this I uncover how quick-serve restaurants are leveraging AI to stay – See more –

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