Part 5/13:
Differentiating AI and Generative AI in Retail Applications
A key discussion point is understanding when AI transitions into the realm of generative AI. Nain clarifies that:
Traditional AI involves automating specific tasks, such as classification or predictive analytics. For example, AI algorithms can identify the right category or price point for a product.
Generative AI, on the other hand, offers a more holistic, interactive, and creative approach. It can aggregate external market data, generate personalized content, and simulate conversations, thereby adding a human-like touch to online interactions.