AI for Retail

CHAPTER 24Create Your “AI Strategy and Road Map”

Now that you have a core understanding of AI and a rough survey of some AI use cases in retail, we can get to the fun stuff. This is the section where the rubber meets the road. Let's start implementing AI throughout your business!

I wrote this section as a very simple step‐by‐step guide that if you follow, I guarantee you will see meaningful results in a short period of time. We have taught and set up similar processes in many retailers with great success. But like anything, you have to constantly work on it and prioritize it.

Like any major organizational shift, you need to start with a strategy. AI is no different. Your AI strategy and road map should include three components (that we will later call “the 3 Es” which stand for Education, Exploration and Execution.), each of which should have about one‐third of your focus (see Figure 24.1).

Your AI strategy should clearly document roles, responsibilities, and goals for each of the three Es. Who owns what, what are the processes and norms that we will follow (monthly/weekly meetings), and what each owner should accomplish by what date. All three should be running in parallel.

Your AI road map should distill this strategy to a specific set of goals and initiatives that your team will conduct to achieve them. For each of your goals it should be clear as day whether not it was achieved or not. Each goal should be SMART (specific, measurable, achievable, relevant, and time‐bound). ...