Avoiding the traps and keeping AI adoption on a pragmatic level - what's next for UK retailer Next?
When we last took a look at UK retailer NEXT’s ongoing digital transformation, CEO Simon Wolfson made the point that as much lay in what the firm was not doing as what it was in burning area of AI adoption:
Ultimately, the value of AI is not in the technology, it's in the applications it supports, and the design of those applications. What it does for the business can only be understood by the people who are running the business, not people who have access to the technology.
That’s not to say that NEXT is not putting down stakes in the field of AI. The company’s AI spend this year has come in at £1.2 million, up from £200,000 last year.
Being pragmatic about AI’s capabilities is key to NEXT’s strategic thinking to make sure it genuinely serves retail’s needs, says Wolfson:
There’s a bit of a myth here...
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