November 2023 – The R3 team participated in the FUTR Asia Summit 2023, gaining valuable insights into the future consumer, retail and e-Commerce strategy, and the transformative impact of AI across industries. Seema Punwani, Partner at R3, and Penelope Siraj, Principal Consultant at R3, skilfully moderated two panels, with industry experts presenting insightful viewpoints.
Unlocking AI, Driving Change and Managing Transformation
Efficiency as a Catalyst: AI emerges as a dynamic catalyst for ideation and validation. It rapidly generates ideas that, when refined by human experience and creativity, propel projects forward efficiently.
Unprecedented Productivity: Organizations are constructing their GPT platforms, leveraging historical data for autonomous scoring of concepts, packaging, and communications. This revolutionary productivity has the potential to reshape work methodologies.
Accuracy and Human Judgment: Despite excelling in efficiency and productivity, the accuracy of AI output raises critical considerations. Making pivotal decisions based solely on Gen AI output requires careful scrutiny. The accuracy is tied to the relevance of the input, emphasizing the essential role of human judgment.
Overcoming Walled Gardens and Driving Efficiency across Retail Media Networks
No One-Size-Fits-All Approach: It is still early stages, so brands must experiment to see what works best for them to achieve their specific goals. Central to this process is the collaboration between the brand, agencies, retailers and technology providers to provide a seamless shopping experience to the consumer.
Scaling Challenges: Questions around inventory, creative, and measurement persist. Aligning strategies and establishing a robust attribution model are critical for success.
Benchmarking and First-Party Data: Clarity and alignment in decision-making stem from utilizing data across the funnel. With third-party trackers dwindling, the role of first-party data is increasingly critical. Now is the time for marketing professionals to experiment upstream, uncover gaps, and showcase commitment to best practices.