At London Innovation Lab, UST unveiled its “UST Retail GenAI platform.” This ground-breaking technology was introduced by Walgreens Boots Alliance SVP and International CIO Steve Rempel, who aims to use generative AI to revolutionize retail operations. Steve gave insightful talks about important success aspects that will facilitate the adoption of GenAI, such as the importance of understanding the trust cycle while making different investment plans. Krishna Sudheendra, the CEO of UST, discussed the company’s emphasis on promoting the usage of generative artificial intelligence (AI) ahead of the inauguration. This includes an internal initiative to teach 25,000 staff members on the technology.
Research indicates that the retail business might gain an economic worth of between $400 billion and $660 billion through the application of AI. Few businesses, nevertheless, have completely tapped into the possibilities of emerging technologies. The platform, created internally by UST’s technology and industry sector experts, revolutionizes retail operations by fusing well-established business models with critical GenAI capabilities, including search, summarization, automation, and creation.
Larger business teams can now explore retail enterprise scenarios that would benefit from GenAI-led investments in a novel way thanks to this cutting-edge platform. The platform facilitates more efficient decision-making by mapping the alignment between GenAI and business capabilities. With the help of the UST Retail GenAI platform, retailers can test different scenarios and results, pilot GenAI-driven solutions quickly and safely, spur creativity, and streamline operations. Retailers can use scenario cards, which incorporate “enterprise knowhow,” to address certain difficulties and help them develop and organize their AI strategy.
“At UST, we’ve partnered with six of the world’s top ten retailers, transforming their businesses. While AI is already transforming retail operations, we still need to unlock its full potential. The UST Retail GenAI Platform offers a structured approach for exploring generative AI scenarios, marking a significant milestone in our mission to revolutionize retail operations through the power of generative AI. This is aligned to our focus on building platforms that can help scale the adoption of GenAI-led ways of working,” said Krishna Sudheendra, Chief Executive Officer, UST.
The advantages of investing in AI and digital transformation were reinforced by a recent survey conducted by UST, where participants listed enhancing sustainability, raising profitability, and building resilience to handle future disruption as the three main effects of technology breakthroughs in their organizations. To improve business agility, expedite digital transformation initiatives, and streamline operations, UST AlphaAI unifies the company’s AI products.
Also read: Unveiling the Ethical Imperatives: Navigating the Intersection of AI and Cybersecurity
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