Generative AI (gen AI) features stand to add up to $4.4 trillion to the global economy—annually. What will the technology be good at, and how quickly? What types of jobs will gen AI most affect? Which industries stand to gain the most? And More. - From McKinsey & Company
The gap between global ecommerce sales growth and retail sales growth has shrunk, likely MADE POSSIBLE BY producing a modest 2023 holiday season where ecommerce sales will slightly outpace brick-and-mortar. Online retailers will likely kick off their promotions in October, creating an elongated holiday shopping season where consumers wait for the best discounts. - From Insider Intelligence eMarketer
The next wave of business transformation will shift from creating isolated digital capabilities to creating the foundations of a new reality—a shared reality that seamlessly converges the physical lives we’ve been leading with the digital ones we’ve been rapidly expanding. The goal is not incremental improvement, but a step change. – From Accenture
The question of whether the US will fall into a recession remains open. The structural challenges facing Europe—from demographics to energy to the ongoing war in Ukraine—present meaningful headwinds with no clear resolution in sight. The eurozone has technically entered a recession. - From Bain & Company
The goal of this publication is to offer insight into the technology priorities of business leaders and to highlight areas where there is both room for improvement and reason for optimism. It is based on a sizable survey conducted in early 2023, at a moment when the global economic outlook was highly uncertain. - An IDC Brief Sponsored by Insight
Honored to be on this list. RTIH has scoured the retail technology world to find the most influential figures for this comprehensive list of people and trends that shape the industry and help drive it forward. - From Retail Technology Innovation Hub
Change is a staple of humanity. Nowhere is the velocity of change more evident than in the consumer industry, which has seen 20 years of dramatic transformation. Yet today, the industry stands on the precipice of an even more momentous paradigm shift and faces a once-in-a-century economic, social, and technological transition. – From Deloitte Insights
With inflation and an uncertain economic environment continuing to impact retail, grocers certainly have felt limited by how much they should invest, but more than half of those surveyed (57%) expect their tech spending to increase in 2023. - From RIS News
Now in its 11th year, the Top 10 Emerging Technologies of 2023 report outlines the technologies poised to positively impact society in the next three to five years. The report broadens its scope beyond describing the top 10 technologies and associated risks and opportunities to include a qualitative assessment of how each technology is set to impact people, the planet, prosperity, industry and equity. - From the World Economic Forum
Generative AI could add the equivalent of $2.6 trillion to $4.4 trillion annually across the 63 use cases analyzed—by comparison, the United Kingdom’s entire GDP in 2021 was $3.1 trillion. This would increase the impact of all artificial intelligence by 15 to 40 percent. - From McKinsey & Company
The study examined shopping habits 18 years from now, when Gen Zers will turn 40 and together with Millennials be the dominant consumers. 65% want the shopping experience to become more personalized in the future, and 36% are sure it will be, both in-store and online. - From Klarna
Online shoppers continue to open and purchase from email marketing. Facebook advertising is the social channel most likely to lead to a purchase. 55% of online shoppers surveyed don’t purchase as a result of influencers. - From Digital Commerce 360
81% of survey participants reported an increase in shrink in 2022. Total apprehensions increased 45.6% and total recovery dollars from these apprehensions increased 70.5%. Participants recovered over $288 million from apprehended shoplifters and dishonest employees in 2022, up 70.5% from 2021. - From Jack L Hayes International
Within technology adoption, big data, cloud computing and AI feature highly on likelihood of adoption. More than 75% of companies are looking to adopt these technologies in the next five years. The fastest-growing roles relative to their size today are driven by technology, digitalization and sustainability. - From World Economic Forum
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