NorgesGruppen on AI: – A gamechanger
According to William Kristensen, head of data, analysis, and artificial intelligence at Forte Digital, chatbots were once widely disliked, but now they are becoming increasingly popular. He believes that artificial intelligence (AI) is no longer just for large companies, but rather, it is becoming a crucial element for businesses of all sizes. In fact, he predicts that those who fail to develop a concrete AI strategy will be left behind.
Kristensen's comments come at a time when AI chatbots are gaining significant attention. The New York Times recently called ChatGPT, an AI chatbot, "the best AI chatbot ever released." ChatGPT reached one million users in just five days and hit 100 million users two months after its launch. The owner of ChatGPT even estimates that the AI company will generate more than $1 billion in revenue by 2024.
Kristensen advises businesses to develop a strategy to harness AI. He emphasizes that access, utilization, and control of a company's data are essential to succeeding with AI. By embracing AI, companies can streamline operations, improve customer service, and gain a competitive edge in their industry. Those who do not take advantage of AI risk falling behind their competitors.
Personalizing and streamlining with the help of Artificial Intelligence
ChatGPT is just one of many AI services that are developing rapidly. Most AI services are built using machine learning models.
– We are at the beginning of an AI revolution. Machine learning models like ChatGPT will undergo tremendous development in the future and will never be worse than they are today, says Kristensen.
NorgesGruppen is presently experimenting with machine learning in the home delivery of groceries. The grocery giant has taken significant steps in using vast amounts of data to personalize customer experiences and streamline operations and logistics.
MENY, one of NorgesGruppen's retail chains, has recently developed a prediction system that utilizes machine learning and advanced algorithms to streamline operations and improve the digital customer experience.
– By using Artificial Intelligence (machine learning models), they can predict the number of orders more accurately based on historical data, campaigns, national holidays, and other similar factors in MENY's online store, notes Kristensen.
– A gamechanger
The result is that MENY can now plan the number of employees needed to process each order, reducing over- or under-staffing. This can now be done up to 20 weeks in advance, providing predictability for employees and subcontractors.
– This is a gamechanger for us because it can provide cost savings, increased efficiency, and better customer experiences. For our customers, it means more flexibility and efficiency when ordering goods for home delivery. In sum, the solution contributes to a more frictionless shopping experience, says Jørgen Normann-Larsen, Marketing Director at MENY.
Three Tips for Success
Kristensen and Normann-Larsen agree that it's easier than ever to use AI tools and develop your own solutions based on the technology. They have three tips for succeeding with artificial intelligence:
- Every company should have a strategy for leveraging artificial intelligence.
- Access and control of your own data has never been more important. Digital platforms are a prerequisite.
- Start small. Not everything needs to be solved at once; the most important thing is to get started.
– We are at the beginning of a technological revolution. If you want to keep up with the times, you need to develop an artificial intelligence strategy, starting now, concludes Kristensen.