Released
The New Skills in Finance Report 2022
In a digital-transforming era, there is a widening skills gap for those who cannot adapt to the new digital world in finance.
CFTE and Elevandi published the report with the discussion with leading experts to help governments, organisations and individuals address the current skills gap in finance and build a digital-resilient workforce in the industry.
Key Insights
Key takeaways from Driving business success with generative AI in consumer and retail report published by KPMG
CFTE summarised “Driving business success with generative AI in consumer and retail” report by KPMG. The report discusses how Generative AI can optimise pricing, improve ad content, generate engaging product descriptions, and enhance customer service interactions.
Key Aspects
- The report explores the potential of generative AI in transforming the consumer and retail sector, enhancing business outcomes including operational efficiency, cost optimisation, and customer experience.
Table of Contents
- Introduction: The Game-Changing Potential of Generative AI
- Generative AI Expectations and Challenges in Consumer and Retail
- Next Steps: Implementing Generative AI Strategies
Key Findings and Insights
This report will give you an insight into:
- Business Game Changer: Generative AI is identified as a potential pivotal technology for the consumer and retail sector, offering improvements in commercial effectiveness, operational efficiency, and cost optimisation.
- Generative AI Applications: Likely to be used for analysing customer data (66%), trend analysis for inventory management (64%), content generation (62%), and improving customer service chatbots (58%).
- Sector Focus: A significant focus is on the application of generative AI in marketing and sales. 70% of executives in the consumer and retail sector see this as the area where generative AI will have the most substantial transformational impact, compared to 49% across all sectors
- Adoption Hurdles: Despite the potential benefits, only 23% of surveyed consumer and retail organizations have appointed a central person or team to organise the response to the emergence of generative AI, indicating a gap in organizational readiness and focus.
- Strategy Recommendations:
- Building a bespoke data infrastructure to leverage generative AI effectively.
- Developing a responsible AI framework for ethical and legal use.
- Experimenting with generative AI to identify business use cases.
- Deploying an enterprise-class generative AI engine to manage data securely and generate valuable insights.
- Acquiring specialized technical capabilities, including roles like prompt engineers, to take full advantage of generative AI.
Key infographics
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