2020 will be a year of further uncertainty and retail pressure for the UK, especially when it comes to anticipating the impact of our Brexit journey.
Maybe the cliff edge seems less likely, but just how demand and supply chains will be affected, tariff duties will change, Sterling will fluctuate, and consumer sentiment will alter throughout this year and beyond remains unclear.
What is certain, or at least very likely, is that costs will go up, retail pricing will be a challenge and consumer reaction to these price changes will be uncertain.
As we have seen through personalisation of marketing and direct consumer sales channels, those companies and brands that adapt fastest to emerging changes will win. This will be the same for changes and volatility in our disrupted supply chains and resulting consumer reaction. Opportunities lie with those who can predict, plan and react quickest to change.
Much has been recently written about the impact that AI can have in retail, but AI is a broad term and the reality is many who think they have an AI strategy are just scraping the surface of what technology in this area can do. A few are cynical about the impact AI can really have on such a dynamic and complex environment, convincing themselves that “data and machines” will never replace good, old-fashioned “gut feel” and informed experience when it comes to making the big decisions.
Those who will succeed will leverage emerging deep learning approaches against the vast amounts of data available to augment decision making.
Over the past three years Singular Intelligence have been working with leading Global CPG companies to develop a game changing AI platform that augments sales, marketing and supply chain decisions considering all relevant causal factors. The approach leverages all their current data assets and provides instant, dynamic and always-on prediction to support future trend analysis and alerting, scenario planning and recommendations. The results have shown better informed decisions, made quickly, provide measurable competitive advantage.
In these times of increasing uncertainty, complexity and rapidly shifting landscape, Singular AI Advanced Analytics designed for intuitive use by business users can provide proactive clarity on the opportunities, risks and most optimal options to support timely decision making.
In volatile times those who can respond quickest and most precisely to the changing environment around them will win the battle for growth and profitability.
If you want to take on the challenge ahead with a proven AI strategy, product and service, designed for your business, we would love to talk to you.
Nick Marr, Commercial Director, Nick@singularintelligence.com
Steve Gladwell, Industry Director, Steve@singularintelligence.com
Sarvesh Kumar, CEO, Sarvesh@singularintelligence.com