Google Cloud Introduces New Generative AI Tech for Retailers at NRF 2024

Google Cloud unveiled several new AI and generative AI-powered technologies for the retail industry at the National Retail Federation (NRF) retail show this week in New York.

Retailers can personalize online shopping experiences, modernize operations and “transform in-store technology rollouts,” with the AI-enabled tools”

Google said the announcements respond to a growing need to make retail operations more efficient and personalized, with consumers coming to expect tailored shopping experiences. 

New research from Google Cloud also found that 81% of American retail decision-makers “feel urgency” to adopt generative AI.

Among the new tech on display was Google Cloud’s new conversational commerce solution, which allows retailers to embed generative AI-powered virtual agents on their websites and mobile apps. These virtual assistants can suggest products for customers based on individual preferences and engage in full conversations using natural language. 

Google Cloud also introduced a new customer service modernization solution which similarly deploys AI-based agents to support personalized experiences.

This solution integrates into a retailer’s existing customer relationship management system, deploying AI-based agents to help with personalized product recommendations, scheduling appointments, or checking order statuses. 

Related:Google Researchers Use Quantum to Tackle Classical Physics Problems

Google also launched its new catalog and content enrichment solution, automating the process of cataloging products to simplify and streamline day-to-day operations. 

"In only a year, generative AI has morphed from a barely recognized concept to one of the fastest-moving capabilities in all of technology and a critical part of many retailers' agendas," said Carrie Tharp, Google Cloud’s vice president of strategic industries. "With the ability to accelerate growth, boost efficiency, fuel innovation and reduce toil, generative AI solutions are ready to be deployed now, and Google Cloud's recent innovations can help retailers recognize value in 2024."

Google Cloud's new generative AI solutions for retailers are set for commercialization in the first quarter of 2024, though Victoria’s Secret has already been announced as an early adopter of the technologies.

Under the new multi-year partnership, Victoria’s Secret will deploy Google’s generative AI-powered conversational assistant to create tailored shopping experiences for customers.

"We are strategically implementing AI to help us better use data to benefit our customers and enhance internal processes,” said Murali Sundararajan, Victoria's Secret’s chief information officer. “We're excited about the potential use cases including international expansion planning to marketing development and supply chain optimization.

“These initiatives could not only streamline our operations but also enable us to better meet the needs of our customers and associates."