UST, a leading digital transformation solutions company, has introduced its ‘UST Retail GenAI platform’ at the London Innovation Lab. The platform, inaugurated by Steve Rempel, SVP & International CIO at Walgreens Boots Alliance, aims to revolutionize retail operations through Generative AI technology.
- Inauguration and Leadership: Steve Rempel inaugurated the platform, providing insights into critical success factors for GenAI adoption, including the importance of understanding the trust cycle in investment planning.
- UST’s Commitment: Prior to the launch, UST CEO Krishna Sudheendra emphasized the company’s dedication to Generative AI, including an in-house program to train 25,000 employees.
Platform Capabilities and Benefits
- Economic Potential: AI is expected to unlock between $400B and $660B in economic value for the retail industry, though many companies have yet to fully harness this potential.
- Platform Features: Developed by UST’s experts, the Retail GenAI platform integrates business models with GenAI capabilities such as search, summarization, automation, and creation.
- Enhanced Operations: The platform provides an out-of-the-box experience for retail scenarios, facilitating effective decision-making and innovation. It allows retailers to pilot GenAI-driven solutions, test scenarios, and optimize operations.
- Scenario Planning: Retailers can use scenario cards to plan and address specific challenges, integrating ‘Enterprise knowhow’ into their AI strategies.
Statements and Impact
- CEO’s Vision: Krishna Sudheendra stated, “While AI is transforming retail, we must unlock its full potential. The UST Retail GenAI Platform provides a structured approach for exploring Generative AI, marking a milestone in our mission to revolutionize retail operations.”
- Survey Insights: A recent UST-commissioned survey highlighted that digital transformation, particularly AI, builds resilience, increases profitability, and improves sustainability.
The UST Retail GenAI platform represents a significant advancement in digital transformation for the retail sector. By leveraging Generative AI, UST aims to help retailers accelerate innovation, optimize operations, and fully realize the potential of AI technologies.
