Microsoft Launches Generative AI, Data Solutions at NRF 2024

Microsoft has announced a series of new generative AI and data solutions for retailers, ahead of NRF 2024 happening this week in New York.

The updates respond to ongoing challenges in the retail industry, from high store associate turnover to changing shopping habits, with retailers increasingly turning to data-backed generative AI solutions to help meet these challenges, Microsoft said.  

The new updates give retailers access to copilot templates on Azure OpenAI Service to build personalized shopping experiences.

These templates use a retailer’s existing systems and data but integrate natural language capabilities to allow customers to ask for and view products just by saying what they want. 

Once the retailer is satisfied with the template design, it can then be embedded into its website or app. 

“Generative AI can serve as a key differentiator for retailers, providing their customers with a unique and memorable experience that embodies their brand identity,” said Shelley Bransten, Microsoft's global retail corporate vice president. “We are committed to democratizing the concierge-like experience across the shopping journey through copilot templates that help retailers create more personalized experiences and reduce time to value.”

A copilot template is also available for store workers and managers, available on smartphones, tablets and PCs to give insight and information into the flow of work. Using natural language, workers can get real-time responses on any issues, as well as use voice commands to assign tasks and access product information. 

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

Microsoft also announced a new analytics platform to house a retailer’s data and provide analytics tools to optimize the use of this data. 

The platform, Microsoft Fabric, gives retailers a data model to help them plan and design data solutions, as well as analytics templates that provide actionable recommendations to help improve product upselling and optimization.

Copilot features will also be available to marketers designing campaigns, with the AI-enabled platform providing suggestions based on an uploaded creative brief. Using this, the copilot generates a centralized project board, allowing marketers to manage and update their campaigns and get AI-recommended content.

Microsoft said these new Copilot features, available in Dynamics 365 Customer Insights, will be available for early access public preview in the first quarter of 2024.

Finally, Microsoft announced the launch of Retail Media Creative Studio, a generative AI-enabled service that creates banner ads for retail media.

“With Retail Media Creative Studio, retailers can empower their advertisers to quickly auto-generate and edit banner creatives by using generative AI,” a company statement said. “Retailers can then review and approve for use across multiple retail media channels, such as the retailer’s owned digital properties and across the open web.”