Report: Retail CEOs and Management Teams See AI’s Potential Differently

According to a new study by Warrendale, Pa.-based First Insight, retail CEOs and their management teams face a disconnect when it comes to the use of Artificial Intelligence (AI).

The new study, titled “AI Strategy Divide: Bridging the Perception Gap in Retail Leadership,” found 63 percent of management teams were likely to use AI for things like inventory management, forecasting and stock optimization, compared to 33 percent of CEOs.

The report, according to Women’s Wear Daily, revealed other interesting insights, especially regarding Generative AI for design: 44 precent of CEOs saw it as a priority compared to 27 percent of managers. Thirty-three percent of CEOs view AI as a priority it relates to fraud detection compared to 23 percent of management teams.

First Insight noted “a striking three-to-one gap in the recognition of ‘Innovation’ as a vital advantage of AI, with 47 percent of management teams in agreement, versus a mere 17 percent of CEOs.”