7-Eleven Japan, which is the biggest convenience store operator in Japan, will use generative artificial intelligence (AI) in its product planning strategy, reported Nikkei Asia.
The company created its own cloud-based information technology system equipped with generative AI from OpenAI, Stability AI and Google to collect data from customer sales, product manufacturers and social media. The AI will then process the data to recognize consumer trends and draft proposals for new products.
In 2024, proposals of new products from the AI will include generated text and images based on the trends AI found in the collected data.
7-Eleven Japan expects the use of generative AI will streamline the current product planning process, which currently uses customer surveys and internal meetings before taking a product to market, according to Nikkei Asia.
One department has already begun using the AI infrastructure and experienced an 80% reduction of internal meetings. With that, the system is expected to reduce the time needed to develop new products by up to 90%—for example, reducing the necessary time from 10 months to one.
The AI generated products are likely to be released as part of the Seven Premium brand, reported Nikkei Asia.
In addition, Amazon announced that it is using data from its Prime subscribers and AI to improve ad targeting this holiday season. Amazon generative AI is predicting that targeted ads will draw more shoppers and advertisers to its platform. Andy Jassy, Amazon chief executive, said that machine learning is helping the company to present more relevant ads to shoppers.