Dominik Olejko is the Head of Customer Insights and Engagement for the Eastern European branch of the global clothing retailer, H&M. In this episode of CXI, we unpack the benefits and risks of the rapidly rising AI platform ChatGPT, whilst also applying its use cases to the retail industry and assessing the relationship between technological advancement and societal adaptation.
Dominik believes that while AI is often adopted quickly without enough regulation or long-term planning, it's a natural part of societal evolution and has the potential to bring benefits that outweigh the risks.
One of the most exciting aspects of AI for retail is hyper-personalisation. With the help of AI-powered chatbots like ChatGPT, companies can better understand their customers and provide more tailored experiences. Though as AI capabilities improve, customer understanding will increase, and companies will need to find new ways to satisfy their customers' growing expectations.
But AI also comes with risks. If customers feel like they are being too closely monitored or their privacy is being invaded, they may become alienated from the brand. Additionally, the rise of the metaverse, a virtual world where people can interact with each other and with brands, presents new challenges for retailers looking to engage with customers in this new medium.
Overall, Dominik stands optimistic about the future of AI in retail, but acknowledges the need for responsible adoption and management of these technologies.
Want to find out more? Watch or listen to the episode now.
This article summarises podcast episode 88 "ChatGPT and the Retail Revolution" recorded by CX Insider. For more information, listen to the episode, or contact Dominik on his LinkedIn profile.
Written by Marcell Debreceni