May 30 2024 | 02 min read
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With over 100+ retail enthusiasts from 7 cities and gathering a plethora of insights in our past events, we wanted to do another edition of Chai with CPG Leaders in the City of Joy- Kolkata. This time we wanted to do something different. With hours of brainstorming internally, on whether the theme should be around FMCG trends or strategies for route-to-market (RTM) or optimising operations. Since Artificial Intelligence (AI) is the talk of the town, we thought why not go forward with it? But does intelligence really have to be artificial? We believe that Real Intelligence (RI) is the true intelligence which holds significant importance in the market and hence we ended up in a room full of industry leaders where intelligence was not artificial.
With this in mind, our roundtable discussion began, focusing on why brands eagerly embrace AI and experiment with it to stay ahead. Some brands, however, emphasised the importance of aligning stakeholders before diving into AI implementation. The key question was whether the market is ready for AI disruption or needs more preparation time and effort.
Brands discussed that the most crucial step is to investigate AI’s role in sales by incorporating users’ inputs through vernacular language in apps, utilising algorithms for recommendations, and addressing business problems for scalability. Additionally, AI should be able to measure KPIs based on individual capabilities.
There’s been a noticeable shift in the roles of sales officers (SOs) and area sales managers (ASMs), who can now measure their team’s KPIs with a click of a button and provide timely nudges. However, this technological advancement also brings fear that AI might eventually replace their jobs. Field users, in particular, are reluctant to integrate such tech into their daily operations. Brands need to communicate effectively, reassuring users that AI will serve as an assistant to enhance their sales efforts, not replace them.
Despite AI’s remarkable advancements and potential, it’s crucial to recognise its limitations. AI’s performance is inherently tied to the quality of the data it is trained on. The AI system will reflect those biases and limitations if the data is biased or incomplete. Moreover, AI lacks true creativity or innovation. While it can generate new ideas and solutions based on existing data, it cannot think outside the box or create original concepts. This is because AI relies on algorithms and patterns, whereas real creativity stems from intuition, inspiration, and imagination. Consequently, AI can enhance real ingenuity but can never replace it.
Thus, RI should be used for planning, and AI for execution. RI will always be the master, with AI as the assistant. AI will likely continue to advance and become more sophisticated, enabling it to perform an even wider range of tasks. However, there will always be tasks and problems that require real input and creativity. Brands need to understand this evolution and educate users on its benefits for scaling up.
After the formal discussions, we gathered for an informal networking session over dinner and cocktails. The event was a resounding success, with real people discussing real ideas to get real insights.
This was a small excerpt from the discussion, though there were also talks about how brands rely on analytics, move towards using integrated platforms, the right time for AI inception, get rural visibility and the era of GPT-powered chatbots.
Stay tuned for our next event in another city. Check the Chai with the CPG Leaders page for details of our upcoming meet. For any queries, write to marketing@bizom.com.
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