3 Mistakes Retail C-Suites and Boardrooms Are Making When it Comes to AI

Earlier this year, my company surveyed CIOs and CTOs at companies making $500M+ in annual revenue about how their brands were approaching AI. Across these executives, 84% agreed that only those AI projects that resulted in ROI would survive the year, and 82% agreed that their boards were increasingly questioning how much they were spending on AI.

In my view, this double-edged pressure is largely responsible for companies – especially retailers – turning to an old habit when it comes to incorporating the latest technology wave: what I like to call “random acts of [fill in latest technology here].” Over my career, I’ve witnessed random acts of mobile, random acts of IoT, and now we’ve arrived at random acts of AI.

More than any other prior technology wave, labeling your adoption of AI as a “tech issue” strictly under the purview of the CIO/CTO is missing the forest for the trees. For retailer leaders who are serious about gaining a competitive edge in the current AI wave, there are three major mistakes they should avoid.

Because AI has the potential…