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Designed for retail leaders, Retail Refined dives deep into exploring the future of the consumer and in-store experiences. Challenging the norm, host Melissa Gonzalez investigates what will define the next decade of retail, disruption that lies ahead and the key factors influencing change through curated conversations with some of the biggest names in retail and retail technology.

MarketScale

Retail

Bridging the Gap Between AI and Retailers

July 26, 2023
AI
AI and retailers
Lily AI
Melissa Gonzalez
+more
Melissa Gonzalez

 

The intersection of AI and retailers comes into focus In the latest episode of Retail Refined. Host Melissa Gonzalez sits down with Purva Gupta, Co-Founder and CEO of Lily AI. Their conversation centers on how Lily AI bridges the gap between ‘merchant speak’ and ‘consumer speak’ regarding AI and retailers. Gupta explains how Lily AI uses advanced image recognition and AI capabilities to extract product attributes from catalogs, translating them into consumer-friendly language. This process not only optimizes on-site search and demand forecasting but also leads to significant revenue increases. The discussion also touches on the importance of authenticity and context in AI applications, with Gupta emphasizing that AI is best when viewed as a tool to solve consumer problems rather than an end in itself.

About Purva

Purva began her career with Saatchi and Saatchi, forming her love of retail when she was assigned to P&G and witnessed the emotional strength of people’s connection to their preferred products. Inspired by consumer innovation, Purva joined Eko, a branchless banking and mobile payments platform serving the unbanked and funded by Gates Foundation. Most recently, Purva invested in life-saving apps and technologies with UNICEF Ventures’ Innovation Fund. Purva is an immigrant founder on six visas in the last four years to live her American dream. She is a Tory Burch Fellow (2019) and holds an MBA from the Indian School of Business and a Bachelor’s in Economics from Shri Ram College of Commerce (India).

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