AI is Everywhere The ChatGPT app is officially the fastest-growing app in history, gaining an estimated 100 million users in two months – growth that took Instagram two and a half years and Facebook four and a half years to reach. Along with consumers, retailers are using AI and investing in it to improve in-store efficiencies and processes. The National Retail Federation believes AI has sparked a transformation of retail and it’s driving changes to the customer experience. The NRF shared a new study conducted by IHL Group revealing that retailers that have already embraced artificial intelligence and machine learning technologies are achieving 2.3 times growth in sales and 2.5 times growth in profits for the year 2023 when compared with their competitors. And the trend is projected to continue in 2024. From the retailer’s point of view, AI helps themmake faster, more accurate decisions when it comes to inventory management. They’re also using it to follow shopper trends and tweak store layouts based on traffic patterns captured from in-store camera data. “AI has supercharged our PlayCentral Powered by SCiQ lottery vendingmachines. Imagine personalized game suggestions and machine-based learning for inventory delivery so the retailer never runs out of product,” said Steve Beason, President of Digital and Sports Betting for Scientific Games. “AI can even predict maintenance issues and prevent fraud. By making PlayCentral smarter, engaging and trustworthy, you'll sell more games and keep customers coming back.” One major benefit of AI is it’s helping retailers shape the customer’s journey and create a more personalized experience. Everyone knows that communications from retailers are getting more personal and more real-time. According to NRF, stores are investing in tech to deliver personalization and optimization, blurring physical and digital with apps that provide a personal shopping experience. Customers might engage with a brand online, and then visit the physical store to check it out in person. In some cases, retailers might recognize a customer as soon as they click on their website or enter a physical store. All confirming that one channel can influence another channel. Interestingly, Forbes shared research that 91% of shoppers want texts from brands they like – and there’s a whopping 9899% open rate. Recommendations based on browser history should be optimized to increase loyalty. Targeted communications rather than general marketing messages help retailers connect to loyal customers and keep them engaged. “Creating a unified customer view that incorporates all player touchpoints across all channels andproduct verticals continues to become more critically important, and that’s exactly what CRM programs deliver,” said Merv Huber, VP of Digital Growth for Scientific Games. “Players demand consistently personalized engagement, not just in the marketing messages they receive but also in the experience they receive while interacting with retail and digital lottery products.” Personal Connections
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