Dive Brief:
- Deloitte and Google Cloud unveiled a new AI-enabled solution for retail businesses, the companies announced Wednesday.
- The solution integrates Google Cloud’s Vertex AI platform with Deloitte's ConvergeCONSUMER analytics platform, easing data science operations with tools to forecast demand, personalize marketing campaigns and optimize pricing, the announcement said.
- As cloud and IT service providers race to deploy enterprise-grade generative AI, Deloitte partnered with Google Cloud to build industry-tailored solutions in May after launching a dedicated generative AI practice in April.
Dive Insight:
Slim margins, macroeconomic uncertainty and the vicissitudes of consumer preference have traditionally made it difficult for retailers to invest in emerging technologies.
While companies appreciate the advantages of emerging AI tools, cost is the top barrier to adoption for 1 in 4 retail industry leaders, a Tuesday report from Honeywell found.
The partnership between Google Cloud and Deloitte joins a growing number of new retail-focused offerings, including a generative AI-enabled visual design tool deployed on Google’s Merchant Center in May and a suite of cloud-based solutions Microsoft recently added to its retail industry vertical.
Deloitte’s Google Cloud integration leverages the hyperscaler’s AI and analytics toolkit, including Generative AI App Builder, Generative AI Studio, BigQuery and Data Flow.
Working with consumer, product and supply chain data mined by ConvergeCONSUMER, the solution lets businesses build customer-facing apps, chatbots and search engines, extract sales and marketing insights and quickly derive value from large datasets.
Kroger embarked on a modernization journey with Deloitte and Google Cloud in January, deploying AI tools across nearly 2,800 stores to improve associate productivity. As part of the solution, the grocery chain implemented a task management application that provides night managers with visibility into supply chain, store staffing and stocking needs.
Deloitte launched its Converge project last year with a $750 million investment in modernization platforms for consumer, financial services and healthcare organizations. In addition to the new retail vertical, the initiative yielded ConvergeSECURITY, a cloud-based cyber solution leveraging AWS generative AI tools and Amazon’s foundation model API service.
