From sourcing to customer management: full-scale AI adoption across six core retail sectors Reflection AI CEO to visit Korea later this month as talks on an AI data center move forward
On the 16th of last month (local time), at the signing ceremony for the “Strategic Partnership MOU for the Establishment of the Korea Sovereign AI Factory” between Shinsegae Group and Reflection AI held in San Francisco, the United States, Chung Yong-jin, Chairman of Shinsegae Group (right), and Misha Laskin, Co-founder and CEO of Reflection AI (left), pose for a commemorative photo. Provided by Shinsegae Group
Shinsegae Group will move forward in earnest with a project to integrate artificial intelligence (AI) across all stages of its retail operations in partnership with U.S. AI company Reflection AI. To ensure focus and selectivity, it has decided to halt the collaboration discussions it had been pursuing with OpenAI.
Shinsegae Group and Reflection AI stated on the 17th, “The two companies will jointly implement an AI-based retail business model optimized for the future retail industry to enhance productivity and improve customer satisfaction.” The two companies signed a memorandum of understanding (MOU) in San Francisco, United States, last month and agreed to build and jointly operate an AI data center.
The areas in which AI will be applied are six key domains: product sourcing, ordering, pricing, logistics, inventory management, and customer management. Covering the entire retail value chain, Shinsegae Group expects that this project will optimize product supply and increase efficiency in logistics and inventory management.
The project will be led by Emart, which handles the largest number of products within the group and has the broadest customer touchpoints. At the end of this month, CEO Misha Laskin of Reflection AI and other key executives are scheduled to visit Korea to meet with Emart and Shinsegae Group. Discussions on the business model for building and operating the AI data center are also expected to be further detailed.
To concentrate the group’s capabilities on this project, Shinsegae Group has decided to discontinue its collaboration talks with OpenAI. The group plans to focus on core tasks such as the substantive expansion of AI in the retail sector and the establishment of the AI data center.
A Shinsegae Group representative said, “Based on our collaboration with Reflection AI, we will make AI a new pillar of the group’s future vision and simultaneously drive swift innovation in our existing businesses through AI, achieving sustainable growth and delivering greater customer satisfaction.”
Kim Hye-rin
AI-translated with ChatGPT. Provided as is; original Korean text prevails.
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