What: Generative artificial intelligence has crossed the threshold from hyped novelty to a high-powered business tool with a significant portion of management deploying it to drive demonstrable results across their organisations.

Why it is important: These insights come from a Google Cloud survey of 376 senior executives in global retail and consumer packaged goods companies with at least USD 10 million or more in revenue.

87% of executives that have adopted generative AI reported an increase of six percent or more in overall annual revenue. The top areas for generative AI deployment were found to be customer service and experience, product search and styling, employee productivity and marketing, and security. These findings have significant implications for the retail sector.

Where to use Gen AI to boost retail and brands