Generative AI will be no less game-changing for society in general—and retailers in particular—than the internet itself, says Doug Stephens. As the founder of the global consultancy Retail Prophet and the bestselling author of The Retail Revival and Resurrecting Retail, Doug has unparalleled insight into how AI is going to transform every industry, including yours. More than that, he proves that in an age of AI, investing in “deliciously irrational, beautifully human, and insanely inventive creativity” will give us the edge we need for success.
“Companies today sit on the frontier of a technology revolution that will make them the beneficiaries of billions of dollars in savings in their workforce costs,” Doug tells us. “Some of those companies will be predictably nearsighted and push those savings directly to their bottom line or their shareholders’ pockets. Smart companies, however, will invest in creative and dynamic human beings who bring innovative thinking, empathy and creative energy to the brand and its customer experience. Because the world is going to need a lot fewer lawyers, consultants, engineers and accountants and a lot more dreamers, makers and born risk-takers.”
Doug also sat down with Lavin recently to give us a preview of his new talk on the forgotten backbone of our economy: the global supply chain system that affects every company, whether retail or otherwise. Our current supply chain system hasn’t changed in decades—and Doug argues that today is the perfect time to reimagine what’s possible and unlock a new, unprecedented competitive advantage.
Watch our exclusive full-length interview with Doug, in which he explains how we can rebuild our supply chains to create a sustainable and successful future. (37 min)