In this episode of The Retail Razor Show, Ricardo Belmar and Casey Golden explore how Generative AI can transform the retail industry with AI expert and Babson College associate professor, Peter Cohan. Discover how AI can drive creativity and progress through innovative applications in customer service, personalized offers, and business coordination. Learn about the critical decision-making processes in AI adoption, the impact on revenue growth, and the importance of smaller, more focused language models. Experience real-world case studies, strategic insights, and practical advice on harnessing AI's potential as we guide the retail C-suite on how AI will revolutionize retail. Subscribe, rate, and review on Apple Podcasts, Spotify, and Goodpods, and join the conversation on social media for more updates.
Retail Razor Show S4:E6
Released on October 18, 2024
00:00 Show Intro
02:49 Meet Our Guest: Peter Cohan
04:21 Unlocking Generative AI for the Retail C-Suite
05:40 Peter Cohan's Background and Journey
10:25 Impact of Generative AI in Retail
12:48 Challenges and Risks of AI in Customer Service
16:34 Strategies for Embracing AI in Retail
17:21 Relay Race vs. Rugby Approach in Product Development
28:48 Best Practices for AI Implementation
32:43 Driving Company Growth: The CEO's Role
35:15 The Value Pyramid Framework
39:36 AI's Role in Retail Innovation
47:49 Challenges and Opportunities with AI Data
53:19 Entrepreneurial Insights and Cognitive Hunger
57:18 Concluding Thoughts and Future Directions
58:56 Show Close
**Guest info:**
About Peter Cohan:
https://www.linkedin.com/in/peter-cohan/
Peter is an Associate Professor of Management Practice at Babson College, he is the faculty lead for the *core undergraduate strategy course* and has created popular electives on *Startup Cities and Scaling Strategy*. His strategy consulting firm has completed over *150 projects* to help companies identify, evaluate, and *profit* from growth opportunities created by changing technology. He has invested in *seven startups*, three of which were sold for *over $2 billion* and one of which, SoFi, went public in 2021 at *an $18 billion valuation*. He is the author of *17 books*, most recently "Brain Rush: How to Invest and Compete in the Real World of Generative AI" and he is a senior contributor at *Forbes* and a contributor at *Inc.* RETHINK Retail named him a Top Retail Expert every year between 2021 and 2024 and chose him as a Top AI Leader for 2024 this year.
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