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Silicon Valley, Calif. – CoolerX, formerly Cooler Screens, the technology company powering the in-store retail media and merchandising revolution, hosted its 5th annual Innovation Summit last week, an exclusive, invite-only event co-sponsored by Microsoft and NVIDIA. The event delved deep into the transformative impact of Artificial Intelligence (AI) in the retail industry, particularly within the realm of in-store experiences and media. The event gathered top leaders from the world’s foremost and innovative retail and CPG companies, including Kroger, Unilever, Giant Eagle, Chevron, Dollar General, Good Food Holdings, Loblaws, Omnicom, and Publicis Media.
“The summit marked a defining moment for retailers and brands, showcasing the immense potential of AI to revolutionize every facet of the industry,” stated Arsen Avakian, CEO and Co-Founder of CoolerX. “It was an honor to partner with AI and technology leaders Microsoft and NVIDIA, and an array of top-tier retail and media leaders, to collaboratively envision and chart the future of intelligent retail and advertising—a future where AI not only reshapes but also elevates these experiences for consumers, retailers, and brands alike.”
Key themes from the event included:
AI and Consumer Privacy: Navigating the Future Responsibly – The summit centered on nuanced discussions about AI and consumer privacy. Esteemed speakers Michael Chertoff, former US Secretary of Homeland Security, and Dr. Ann Cavoukian, Founder and CEO of Global Privacy and Security by Design Centre explored how the industry can leverage AI’s benefits while safeguarding consumer protections. Topics included the ethical use of AI in retail to protect customer data integrity, setting the stage for frameworks that balance innovation with responsibility, and prioritizing consumer trust in the AI revolution.
“How are you collecting the data that’s used to feed the algorithms,” said Chertoff. The “pitfalls,” he noted, arise if AI is “not handled responsibly with appropriate governance and transparency.”
Data: The Keystone of In-Store AI – High-quality, scalable data emerged as essential for effective AI solutions in retail. Speakers emphasized the significance of data quality and quantity in unlocking AI’s potential, particularly in enhancing in-store experiences. Insights focused on AI’s reliance on robust data for customized shopping and inventory management, highlighting data as the foundation for AI’s transformative capabilities.
Discussing the value of first-party data owned by retailers and its importance for AI and retail media and marketing, Cara Pratt, SVP of Kroger Precision Marketing, stated, “First-party data and the model accuracy and predictability of that data is 90% accurate.” Additionally, Pratt was honored with the first annual Trailblazer award at the event for her outstanding contributions to advancing technology within the retail industry.
The Triple Win of AI: Benefiting Consumers, Retailers, and Brands – A recurring theme was the “Triple Win” of AI, illustrating how AI technologies create synergistic benefits across the retail ecosystem. Consumers enjoy more relevant experiences, retailers benefit from improved inventory management and incremental sales and revenue, and brands gain from targeted retail media and marketing opportunities. This trifecta underscores AI’s positive impact on all stakeholders in the retail domain.
“We’re able to process a lot of data and get better insights that ultimately all of our stakeholders benefit from,” said Chris Edwards, Director of Innovation & Research & Development, Giant Eagle / GetGo.
Moreover, Innovation Summit served as the platform for an exciting announcement: Cooler Screens has changed its name to CoolerX. This new name and accompanying identity, reflects the company’s continued growth and evolution as a technology platform, building AI and data-powered solutions that transform the in-store retail experience for consumers, retailers, and brands.
For more information about CoolerX and future events, please visit coolerscreens.com.
