August 3rd, 2023, 10:00 am PT / Category: Interviews
How can AI lead to profitable product sales, process efficiency, and higher customer satisfaction?
Summary of the video
In this interview Lori Shafer, the CEO of Digital Wave Technology, discuss AI’s potential for products and how it can lead to profitable sales, process efficiency, and higher customer satisfaction. Lori shares her background, passion for creativity and technology, and her journey from Procter & Gamble to entrepreneurship. Digital Wave is introduced as a strategic partner for brands and retailers, focusing on Omni Channel sales acceleration through software solutions.
Lori explains the concept of generative AI and its applications in automating various aspects of product management, such as creating product descriptions, generating images, and optimizing pricing. We inquired about the balance between maintaining brand voice and tailoring content for different channels. Lori emphasizes that generative AI should be used as a co-pilot, highlighting the importance of human intervention and ethical considerations in AI-powered processes.
Our conversation shifts to future trends, including the integration of voice technology and the potential for even more automation. Lori underscores the need for continuous learning, intellectual curiosity, and adaptability in staying ahead of technological advancements. She shares how she personally employs generative AI tools to streamline her learning and work processes, promoting efficiency and focus.
Bio
Lori Schafer is a senior software executive and entrepreneur with 30+ years in technology, analytics (Predictive, AI, Generative AI), Ecommerce, consumer products branding, and retail merchandising and marketing.
She is CEO, Digital Wave Technology, a software solutions company that transforms retail & CPG business processes through AI, including generative AI, workflow and automation. She frequently consults with brands and retailers on their digital transformation strategies in today’s world of omnichannel customer engagement. Ms. Schafer has experience building and managing both startup ($0-$100M) and large enterprise technology businesses around the globe.
Ms. Schafer has served on the board of directors of various public and private retailers, consumer goods, technology companies, and trade associations including the National Retail Federation. In 2010, she co-authored a business book bestseller Branded! The book accurately predicted how mobile, analytics and social media would change the face of retail in just a few short years.
Prior to Digital Wave, she spent 17 years serving as SVP, SAS Institute, leading the Global Retail/Consumer Brands Business Division. Earlier in her career, Ms. Schafer served as Chairman/CEO of Marketmax, Inc., a merchandise / supply chain analytics software company. Ms. Schafer spent the early part of her career at Procter & Gamble in both IT and brand management.
