Artificial Intelligence

Retailers face a tough battle to generate growth in the face of unprecedented competition from global rivals and digital rivals, but many are overlooking what could be their best opportunity. Improving the way employees interact with customers – whether in stores, online or even via call centers – is a proven route to enhanced sales performance, but too few retailers are focused on doing so.

Whether buying online or in the store, consumers today want more control over their shopping experience. If they could have greater control, the number one aspect that consumers would change is the frustration of waiting in a long checkout line in store. In fact, industry research has shown that 52% of consumers say they would actually take their business elsewhere if their checkout wait times exceed five to 10 minutes.

Last week, my retail technology-related travels took me closer to home than usual – to Boston, the city where I was born and still live within a reasonable drive. I visited the old homestead to attend the official opening of the CVS Health’s new Digital Innovation Lab. CVS officials did a fine job explaining the mission of the lab and giving the audience a sneak peek at some of their work.

Tokyo -- Alibaba wants to put a robot, specifically one named Pepper, in your home — or store.

The Chinese e-commerce giant and Foxconn Technology Group announced they are each investing $117.8 million in Japanese telecommunications giant SoftBank’s robotics unit, SoftBank Robotics Holding Corp. Softbank will own 60% of the joint venture, with Alibaba and Foxconn each holding ownership stakes of 20%.

Boston -- Brian Tilzer, senior VP and chief digital officer of CVS Health, sat down with Chain Store Age at the opening of the CVS Digital Innovation Lab in Boston to discuss the strategy behind the lab and CVS’ larger goals for transforming health care through digital technology.

Alibaba wants to put a robot, specifically one named Pepper, in your home — or store.

The role of IT has shifted dramatically in retail in the past 10-15 years, from a simple automation tool to an enabler of competitive advantage and business transformation. At the same time, the role of the CFO in IT has shifted quite a bit as well, and some top finance executives may feel a little uncertain about their place in the new retail IT landscape.

Brian Kilcourse and Paula Rosenblum, managing partners at RSR Research who have both previously served as retail CIOs, have some advice for today’s retail CFO.

CVS Health is aiming to develop cutting-edge digital services and personalized capabilities that will revolutionize health care, and it's all starting with its new lab in Boston.

The CVS Health Digital Innovation Lab, which is now open, will serve as a vital hub for the rapidly growing digital team at CVS Health, which will remain headquartered in Woonsocket, R.I.