UST Launches Generative AI Platform For Retail Sector
The platform combines established business models with key gen AI capabilities such as search, summarisation, automation and creation to improve retail practices.
UST, a digital transformation solutions company, has launched UST Retail GenAI Platform for the retail sector. The platform delivers tools to optimise different facets of retail operations, from logistics to customer experience, through generative artificial intelligence.
Developed in-house by UST’s technology and industry sector experts, the platform combines established business models with key gen AI capabilities such as search, summarisation, automation and creation to improve retail practices.
AI has the potential to unlock between $400 billion and $660 billion in economic value for the retail industry, according to research. However, few companies have fully realised the potential of new technologies.
The platform will allow retailers to pilot gen AI-driven solutions, test various scenarios and outcomes, accelerate innovation and optimise operations. Retailers can conceptualise and plan their AI strategies with the help of scenario cards, which integrate the “enterprise knowhow” to address specific challenges, UST said. The platform maps the alignment between gen AI and business capabilities, helping improve decision-making.
"At UST, we've partnered with six of the world's top ten retailers, transforming their businesses. The UST Retail GenAI Platform offers a structured approach for exploring generative AI scenarios, marking a significant milestone in our mission to revolutionise retail operations through the power of generative AI," said UST Chief Executive Officer Krishna Sudheendra.
Sudheendra also shared UST’s plans about gen AI adoption, including the in-house programme to train 25,000 employees on the technology.
The benefits of investing in digital transformation and specifically AI were also shown in a recent survey commissioned by UST, where respondents cited building resilience to cope with future disruption the highest, increasing profitability and improving sustainability as key outcomes of technological advancements within their business.
