Artificial Intelligence

Broadening responsibilities at a business brings with it an exponential increase in worries. And retail is no exception.

As the traditional CFO role expands beyond accounting and compliance to a more strategic role and partner to the CEO, the capabilities that future CFOs will need to bring to the table are also evolving.

Defining the scope of a CFO’s oversight is challenging because it’s still evolving. Besides the overarching responsibility of overseeing and reporting finances, the role now often includes strategic planning, technology and investor relations.

New areas of reporting, including corporate social responsibility and environmental performance, are also being added.

Strategist, adviser, communicator, futurist: Retail chief financial officers have seen their role broaden so much in recent years that, in some cases, they have become virtual partners with the CEO. Once responsible primarily for financial stewardship, the CFO is embracing a growing number of additional roles encompassing strategic planning, technology and perhaps even a bit of crystal ball gazing.

It may only be October, but here’s a prediction: It’s going to be a high-tech holiday, and I’m not talking about the gift-giving part of it. (Although in a refrain I think will play out in countless homes over the next couple of months, my 20-year-old godson has told his family the ONLY thing he wants for Christmas is a new Apple phone.)

But the big story this year is likely to be retailers’ increased use of emerging technologies that bring the digital and brick-and-mortar worlds together.

A global report by Capgemini, a leading provider of consulting, technology and outsourcing services, claims that consumers consider social media a less important part of their customer journey — from awareness, through to post-sale activity — compared to two years ago.

Foothills Ranch, Calif. -- The Wet Seal named Jon Kubo as executive VP and chief digital officer, a newly created position, effective Oct. 6. Kubo will oversee e-commerce, digital marketing and the information technology organization to integrate digital consumer experiences across all business touch points.

Simon has long been known as one of the pre-eminent players in retail real estate and shopping center management and development. But with the formation of a new venture capital division, Simon Venture Group, and partnership with Plug and Play, a global investor and technology accelerator that specializes in growing tech startups, Simon is looking to take a leading role in retail IT, as well.

By David Dorf, senior director of technology strategy for Oracle Retail

The Wet Seal is welcoming back Jon Kubo, this time as EVP and chief digital officer, a newly created position. Kubo will oversee e-commerce, digital marketing and the information technology organization to integrate digital consumer experiences across all business touch points.

Kubo was head of e-commerce and chief information officer at Wet Seal from 2005 through 2011. The company credits him with growing its e-commerce business to its highest sales volume in history through innovative and industry-leading social and mobile customer engagement programs.