In this episode of the AI in Retail show, Trevor speaks with Matthew Adam Smith, Founder & CEO of MAS Commerce. Matthew Adam explores the transformative impact of AI technologies in the retail industry, drawing from his previous experience at Walmart and now at MAS Commerce.
He also discusses digital tools for ESL, addressing cultural perceptions when implementing a new AI solution, and the critical role of data analytics and sustainability. Matthew shares his insights on the need for customer-centric approaches and on reframing business models to leverage AI effectively.
Topics discussed:
- AI technologies in retail, such as computer vision and apps that help guide customers through the store or online.
- The cultural conversation around AI in retail, and how those shape the challenges and opportunities in AI implementation.
- In-store digital signage and dynamic pricing: Matthew crafts a scenario where dynamic pricing benefits the customer.
- How AI might be able to help with data analytics, supply chain optimization, and even sustainability.
- How ultimately retail and customer service is about personalization and customer value; no matter what tools you use, those are of utmost importance.
Guest Quotes:
“When I joined Walmart, my mother said to me that if I had asked her to blindly just sort of just come up with one company that she thought I would never, ever work for, it would have been Walmart. Right? And I think that’s a testament not just to Walmart, but I think just how much bigger and interesting and complex retail has become.”
“I like the idea of starting really simply by putting tools in people’s hands that happen to be, you know, AI powered, but start getting them like, oh, I’m using AI.”
“Well, efficient to me, doesn’t just mean a stopwatch that gets them in and out the door as fast as possible. I think it’s a combination of that and making that journey as rewarding as possible, both for the customer and then ultimately for the retailer.”
“But of course it is absolutely critical. It’s where this stuff wins or it doesn’t. Which is just how do you make more of the right stuff that’s got a better and better chance of getting grabbed at the right time?”
“It doesn’t matter if you can ship things smarter or convert greater if ultimately you can’t find products. I mean, spanish olive crop was down 50% last week. And guess what? Olive oil is three times the price this year. So you got to zoom out and think about sustainability. Not as greenwashing, but it. How am I going to keep my business going?”
Get in touch with Matthew Adam Smith:
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Get in touch with your host, Trevor Sumner:
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