[…] LVMH, the luxury conglomerate, is integrating artificial intelligence (AI) across its operations to enhance efficiency and customer retention. Utilizing predictive and generative AI tools, the company is revolutionizing areas such as supply chain management, pricing, product design, and marketing. Franck Le Maol, LVMH’s IT and Technology Director, emphasized that technology is essential for both efficiency and maintaining the luxury experience. AI aids in summarizing customer interactions, crafting personalized messages, adjusting prices, and addressing supply chain issues, among other tasks. LVMH has developed a centralized data platform with Google, facilitating a generative AI agent called MaIA, which manages over 2 million requests monthly from its 40,000 employees. Despite facing a 2% revenue drop and a 4% decline in fashion and leather goods, LVMH remains focused on navigating economic uncertainties and adapting to market demand. In the retail sector, 77% of retailers view generative AI as a key emerging technology. Source link […]