Hanshow and Microsoft are excited to announce the renewal of their cooperation to raise the bard for retail industry innovation during a transformative retail conference on the sidelines of the first NRF Big Show APAC 2024, and the signing of a strategic Memorandum of Understanding (MOU). The event, themed "Innovating Future-proof Retail," was held at The Capitol Kempinski Hotel in Singapore, bringing together a constellation of leaders to chart a resilient and vibrant retail future.
"Our collaboration with Hanshow is about co-creating solutions that empower retailers to engage with consumers in transformative ways. With the era of generative AI upon us, we are excited to see the possibilities it brings to retail, enabling the development of breakthrough business models.," said Roan Kang, Azure GTM Leader for the Microsoft Asia Region.
Jennifer Guan, Senior Vice President of Hanshow, and Sharion Wei, General Manager of Microsoft GCR GPS ISV&GSI, formalized a groundbreaking MOU, setting the stage for collaborative innovation. Wei highlighted, “I would like to extend my deepest gratitude to everyone who has been a part of this journey since 2020. Our partnership efforts have been impactful, not only showcased our commitment but have also sparked tremendous excitement across the industry. As we look to the future, we are motivated to pioneer a new era in retail AI Solutions and continue transforming the in-store customer and associate experiences!” Guan emphasized, " The signing of the MOU with Microsoft marks another milestone between the two companies that carries us forward with new technologies like Generative AI, unlocking tremendous potential for both technology companies and retailers in the new digital era."
Retail Conference Keynote Speaker Highlights
Luka Debeljak, General Manager of Azure Infrastructure for Asia/APJ at Microsoft, illuminated the path of AI-centered innovation, advising, "We must approach the adoption of AI realistically, focusing not just on implementing new tools but also on ensuring we have the right data, a secure application platform, and proper governance to guarantee responsible AI solutions."
According to Philippe Brochard, former CEO of Auchan France, “Traditional Retail business models, hit by successive crises, must find new sources to organize their resilience. More than ever, Retailers must finance the technological, ecological, and social transitions required, deliver omnichannel seamless customer experience and customer-centric approach, and guarantee price competitiveness. In that context, Technology is a primary lever of action and resilience.”
Hanshow's Smart Carts, powered by Microsoft's Azure OpenAI, were unveiled as a testament to the conference's theme of innovation and forward-thinking. Eason Tong, Dean of the Hanshow Retail Research Institute, praised the solution for its potential to “redefine customer engagement and operational excellence in retail.” These Smart Carts leverage advanced AI to provide a seamless shopping experience, offering personalized recommendations, real-time inventory updates, and efficient checkout processes.
During the tea break, attendees had the opportunity to engage in robust networking and experience the Smart Carts firsthand. This interactive and immersive event allowed participants and the audience to witness the practical applications of future-proof technologies, reinforcing the conference's commitment to showcasing cutting-edge innovations.
Panel Discussion: Envisioning Resilience
At the conference, Hanshow was honored to have Philippe Brochard, the Former CEO of Auchan France, moderate the exciting panel discussion. The discussion dissected the theme of future-proofing retail through technology and explored the integration of AIoT, Generative AI, and data unification. A poignant quote from Eason Tong, Dean of the Hanshow Retail Research Institute, resonated with the audience: "Innovation is the lifeblood of future-proof retail, and it's through collaborative efforts like these that we'll truly thrive."
Luka Debeljak, General Manager of Azure Infrastructure for Asia/APJ at Microsoft, suggested starting AI implementation in line with the business vision and cautioned against overextending initially. He stressed the importance of integrating data from various sources to develop a comprehensive understanding of customers. Debeljak highlighted the shift to small language models and edge computing for real-time customer interactions, stating, "The shift to small language models hosted on edge devices allows for real-time customer interactions without relying on constant cloud connectivity." He also emphasized, "Privacy and security are paramount. You cannot use customer data to train models or enhance products without their consent."
Adam Kuta, CIO, Bob's Discount Furniture emphasized the importance of aligning technology with business strategy. Kuta introduced the concept of AEA (Affordable, Executable, Absorbable) for technology implementation, highlighting its significance in ensuring successful technological adoption. Kuta remarked, "Customer growth is my number one priority. Enhancing the customer journey with innovative technologies is essential, and we need rich data to drive AI-driven experiences both internally and with our suppliers."
Relvin Sun of Harb Data focused on the need for a unified understanding of the customer journey by integrating data from scattered legacy systems. He highlighted the role of generative AI in creating personalized content and enhancing customer engagement, noting, " Content has emerged as a critical dimension in retail, essential for attracting customer traffic. The advent of Gen AI promises to amplify our capabilities in content analysis, offering deeper insights into consumer preferences and enabling more targeted and engaging customer experiences."
The expanded panel discussion underscored the necessity of strategic alignment, data integration, and security in the evolving landscape of retail technology. By prioritizing customer growth, leveraging AI, and ensuring privacy, retailers can navigate the complexities of digital transformation and enhance their customer engagement.
Hanshow and Microsoft: Future-proofing the Retail Industry
The collaboration between Microsoft and Hanshow addresses key retail challenges using Microsoft's Azure OpenAI technology. Hanshow's solutions seamlessly integrate with existing retail infrastructures to enhance customer engagement and operational efficiency.
Unified Data Integration: The partnership leverages Microsoft's cloud infrastructure to integrate data from various sources, providing a comprehensive view of customer interactions and enabling retailers to meet customer needs better.
Enhanced Customer Experience: Hanshow's Smart Carts, powered by Azure OpenAI, use advanced analytics to offer personalized shopping experiences, real-time recommendations, and streamlined checkout processes.
Security and Privacy: The collaboration ensures customer data protection through advanced encryption and strict data governance, adhering to Microsoft's rigorous security standards.
Operational Excellence: The Smart Carts strive to enhance customer experience by providing seamless, automated checkout processes, reducing wait times, and improving overall store efficiency as part of a suite of digital retail applications, contributing to a more resilient retail environment.
