2963: How is AI Transforming Retail and Loyalty Programs?
Tech Talks DailyJuly 15, 2024
2963
22:3114.1 MB

2963: How is AI Transforming Retail and Loyalty Programs?

Are you curious about how artificial intelligence is reshaping the retail industry and revolutionizing loyalty programs? Join us in this engaging episode of the Tech Talks Daily Podcast as we sit down with Len Covello, CTO and co-founder of Engage People Inc. Len brings his expertise to the forefront, sharing insights on how AI is enhancing the retail landscape and the innovative ways Engage People is driving loyalty through their unique technology.

In our conversation, Len explains how Engage People has built a robust network allowing loyalty program members to pay with points directly at checkout. This novel approach not only provides an additional currency option but also significantly increases average basket sizes and drives more transactions. We'll delve into how this technology works across various industries, adding value for consumers and building trust in loyalty programs.

We'll also explore the broader impact of AI in retail. Len emphasizes that while AI isn't revolutionizing retail, it serves as a powerful tool for making more accurate decisions based on data analysis. From personalizing offers to optimizing inventory and pricing strategies, AI enables retailers to leverage data more intelligently, effectively "punching above their weight."

Further, Len will discuss current trends aimed at enhancing customer experiences, such as the integration of payment with points, the advent of one-time payment tokens, and the increasing importance of providing a seamless omnichannel experience. We'll also touch on the challenges retailers face, like inflation and competition in the loyalty card space, and how innovative solutions can help overcome these hurdles.

Looking ahead, we'll consider the future of loyalty programs. Len envisions a world where inter-brand partnerships provide a unified customer experience and AI drives hyper-personalized offerings. The ultimate goal? A "nirvana" customer journey that seamlessly integrates financial and retail partners.

Tune in to discover how Engage People is at the forefront of this exciting evolution in retail and loyalty, and how AI is poised to create more efficient, personalized, and engaging shopping experiences. Share your thoughts with us after the episode – how do you see AI transforming your shopping habits?

[00:00:01] [SPEAKER_01]: How can technology revolutionize the way we shot and engage with brands?

[00:00:07] [SPEAKER_01]: Well, today I'm thrilled to welcome Len Cabello, CTO and Co-founder of a company called Engage

[00:00:13] [SPEAKER_01]: People onto the podcast. And they're at the forefront of loyalty technology.

[00:00:19] [SPEAKER_01]: And they're enabling consumers to pay with points directly at checkout rather than cash.

[00:00:24] [SPEAKER_01]: But what tangible benefits does that bring to retail is well, Len's expertise lies in integrating

[00:00:29] [SPEAKER_01]: innovative solutions that enhance the retail experience through, yes you guessed it, AI,

[00:00:35] [SPEAKER_01]: but AI and Loyalty Programs. And in our conversation today we're going to explore how AI is

[00:00:41] [SPEAKER_01]: transforming retail decision-making, the impact of paying with points on consumer behavior,

[00:00:47] [SPEAKER_01]: what kind of measurable impact are we talking here? And also, I want to explore some

[00:00:51] [SPEAKER_01]: of the future trends that are shaping customer experiences. And try and identify what exactly

[00:00:56] [SPEAKER_01]: does this mean for retailers and consumers alike. Producing daily tech episodes isn't as easy

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[00:02:03] [SPEAKER_01]: But now let's get today's guest on Bookleup and hold on tight as I be your ears all the

[00:02:08] [SPEAKER_01]: way to Toronto in Canada where we're going to uncover these insights with what have the

[00:02:13] [SPEAKER_01]: industry's leading innovators. So a massive wall welcome to the show. Can you tell everyone

[00:02:20] [SPEAKER_01]: listening a little about who you are and what you do?

[00:02:24] [SPEAKER_00]: Thanks for having me, my name is Len Cavallo and CTO and one of the co-founders at engage

[00:02:29] [SPEAKER_00]: people. We build loyalty technology for a number of companies primarily financial institutions.

[00:02:37] [SPEAKER_00]: So anything on the back end that's white label powering loyalty programs today are part

[00:02:42] [SPEAKER_00]: of the services that engage offers. We've got a few pieces of technology out in the market

[00:02:47] [SPEAKER_00]: that are really shaping the loyalty space. So we are one of the companies in the only network

[00:02:53] [SPEAKER_00]: powering with points globally today. So my day to day job as the CTO and engage is really

[00:02:59] [SPEAKER_00]: to guide implementation and product development from the organization and just strategize

[00:03:05] [SPEAKER_00]: with the team here internally on our forward looking technology posture.

[00:03:09] [SPEAKER_01]: Well thank you so much for joining me today. One of the reasons I invited you on here is there's

[00:03:14] [SPEAKER_01]: hype that surrounds all things AI at the moment. I think a lot of business leaders think

[00:03:18] [SPEAKER_01]: you what what is this hype all about what problems are we solving, what business value are we

[00:03:23] [SPEAKER_01]: generating in what's the ROI on these projects and obviously you're hugely into loyalty tech.

[00:03:30] [SPEAKER_01]: So I'd like to try and bring this to life by asking you to set the scene today and ask you how

[00:03:35] [SPEAKER_01]: you're seeing AI reshaping the retail landscape particularly in terms of enhancing things like

[00:03:41] [SPEAKER_01]: customer experience and safeguarding retail is financially. What are you saying?

[00:03:46] [SPEAKER_00]: I think you use the perfect word there is enhancing. You know we see different technologies come

[00:03:54] [SPEAKER_00]: across our desk over the years whether it be blockchain now we're talking about AI in our industry

[00:04:00] [SPEAKER_00]: personalization was a very big term. I'll be a not a specific technology and there's a group of

[00:04:05] [SPEAKER_00]: people that thinks it will revolutionize everything and while they're not wrong I think they overshoot

[00:04:11] [SPEAKER_00]: what the practical impacts are these technologies and I think AI is an incredible tool for

[00:04:17] [SPEAKER_00]: practical implementation so in the retail space specifically there's a lot of manual work that

[00:04:24] [SPEAKER_00]: that's been done and although it's powered by computers there's people in the background making

[00:04:28] [SPEAKER_00]: decisions ultimately and we're building models for segments and chat bots and trying to make

[00:04:34] [SPEAKER_00]: intelligent decisions on personalization and what we offer to a consumer when we're interacting

[00:04:39] [SPEAKER_00]: and AI in machine learning really gives the power to a lot of companies to I'll say punch above

[00:04:45] [SPEAKER_00]: their weight is to crunch a significant amount of data and get the results to be that much more accurate

[00:04:51] [SPEAKER_00]: so it's really where I see AI in retail landscape is really playing the role of making companies

[00:04:58] [SPEAKER_00]: a lot more efficient and a lot more precise in the decision making and how they work with customers.

[00:05:03] [SPEAKER_01]: And I'd love to drill down into engage people's technology there and we mentioned the loyalty

[00:05:09] [SPEAKER_01]: tech so how are you allowing loyalty program members to pay points directly at the checkout

[00:05:16] [SPEAKER_01]: and assuming once you've done that what kind of impact is this having on consumer behavior?

[00:05:22] [SPEAKER_00]: So it started years ago when we looked at just the the construct of a loyalty program and really

[00:05:28] [SPEAKER_00]: taking a member you know the earn process is very clear and clean to a customer it's

[00:05:34] [SPEAKER_00]: their day-to-day transaction that's how they live their life you know you're earning

[00:05:39] [SPEAKER_00]: really in living your life in the way you know you're tapping a card at a retail store

[00:05:44] [SPEAKER_00]: you're booking some travel it's the things you would do day-to-day but the redemption process

[00:05:48] [SPEAKER_00]: always broke away from that so we had always seen and I don't think we were overly special on this

[00:05:54] [SPEAKER_00]: we just saw that for a customer to truly be engaged in a program for for true loyalty is

[00:05:59] [SPEAKER_00]: they're going to want to redeem for something at that point in time when they're interacting

[00:06:04] [SPEAKER_00]: with any of the brands that they've got affinity with or any loyalty to regardless of who

[00:06:08] [SPEAKER_00]: that brand is. In our world we started to see a large number of redemption going towards gift cards

[00:06:15] [SPEAKER_00]: or vouchers depending where you are the world how they're referred to and what that was telling us

[00:06:19] [SPEAKER_00]: a consumer still wanted that choice they still wanted the ability to have you know the closest

[00:06:25] [SPEAKER_00]: thing to a fee of currency and a gift card in their wallet and they would choose one and how they

[00:06:29] [SPEAKER_00]: would use that and with that we thought how do we get into this checkout process how do we become

[00:06:35] [SPEAKER_00]: part of that process when a consumer is making a decision to purchase something we can

[00:06:39] [SPEAKER_00]: communicate to them and let them know you know outside of your credit and your debit and money

[00:06:44] [SPEAKER_00]: you have on hand there's another currency that's fully backed it's fully secure there's no

[00:06:50] [SPEAKER_00]: volatility to then you can use that so we started to build a network and really think of the

[00:06:56] [SPEAKER_00]: network having two sides to it is we needed to bring on large loyalty programs who had a

[00:07:02] [SPEAKER_00]: significant member base that would create an appetite for the retailers to want to open up their

[00:07:08] [SPEAKER_00]: checkout experience and and the latter was the harder pieces as I'm sure you can appreciate

[00:07:11] [SPEAKER_00]: Neil as going to some of the big brands in the world the Anazons and saying we want to get into

[00:07:16] [SPEAKER_00]: your checkout flow and outside of accepting the traditional credit cards that you would accept a

[00:07:22] [SPEAKER_00]: checkout can you offer a consumer to pay with points and yeah we've been successful I'll be at

[00:07:27] [SPEAKER_00]: quite a bit of work and quite a bit of effort into this we've been successful to build that network

[00:07:32] [SPEAKER_01]: and I'm interested in how that rises expectations from consumers because there's an old

[00:07:39] [SPEAKER_01]: quote at the last great experience what we have as consumers becomes the standard expectation

[00:07:44] [SPEAKER_01]: that we want to see everywhere so what are the key trends in retail technology that you think

[00:07:49] [SPEAKER_01]: retailers should be taking advantage of to remain competitive in today's market and meet those

[00:07:55] [SPEAKER_00]: rising expectations to well what we're offering is definitely one of them it's giving that consumer

[00:08:01] [SPEAKER_00]: choice especially in the current economic times you know as we went through the pandemic

[00:08:06] [SPEAKER_00]: there was a lot of uncertainty out there so really technology that we saw retailers taking advantage

[00:08:11] [SPEAKER_00]: of was anything that made the consumer experience easier anything that built trust with them as well

[00:08:16] [SPEAKER_00]: so at the same time we're encouraging people to use technology more and more as part of their

[00:08:22] [SPEAKER_00]: everyday lives and as part of the purchases they're seeing a lot of fraud they're seeing a

[00:08:26] [SPEAKER_00]: count take over and quite a bit of really you know topics that would scare consumers so you know

[00:08:36] [SPEAKER_00]: the other hand we're saying just be very careful what you share with everyone so a lot of the

[00:08:40] [SPEAKER_00]: trends we're seeing is making that experience a lot easier for a customer whether it's a count on

[00:08:46] [SPEAKER_00]: file there's some some really cool companies out there today that are you know using one time

[00:08:51] [SPEAKER_00]: tokens to authenticate a customer and then they can pull information directly from the bank

[00:08:56] [SPEAKER_00]: for the payment details you know I'm still a fan of anything that makes the consumer journey a lot

[00:09:01] [SPEAKER_00]: easier or you know gives a consumer the ability to purchase something they may need so that

[00:09:07] [SPEAKER_00]: the buying out pay later technology out there I think was something great for consumers as well

[00:09:13] [SPEAKER_00]: so really pieces like that and then that on-me channel experience where if you do have you know

[00:09:19] [SPEAKER_00]: both in store bricks and mortar and online presence communicating with that customer in a fully

[00:09:25] [SPEAKER_00]: cohesive journey so that you really have a good understanding of who that consumer

[00:09:29] [SPEAKER_00]: or is and what they're looking for and making sure you're speaking to them at the time they want

[00:09:34] [SPEAKER_01]: to make those purchases and I think it can be an incredibly confusing space with online stores

[00:09:41] [SPEAKER_01]: lot Amazon suddenly opening physical stores and physical stores trying to rival Amazon online

[00:09:46] [SPEAKER_01]: so how can retailers better blend the physical in digital worlds to create that cohesive and seamless

[00:09:52] [SPEAKER_01]: customer experience across all platforms anything you're seeing here and systems are ubiquitous and

[00:09:58] [SPEAKER_00]: well that's not something exciting for people to hear about there was a lot of companies out there

[00:10:04] [SPEAKER_00]: that had you know different systems running their online presence versus what they saw at store so

[00:10:09] [SPEAKER_00]: it wasn't an elegant journey for the consumer and they could be online they could see something

[00:10:14] [SPEAKER_00]: at a certain price or maybe they had access to certain who bonds or you know certain sales

[00:10:19] [SPEAKER_00]: and then they'd get in store and that would be different and vice versa and really you know making

[00:10:24] [SPEAKER_00]: those systems connected and having that single view of a customer is he to that journey so

[00:10:29] [SPEAKER_00]: a customer you know can have two things into their car online walk into the store and you know

[00:10:34] [SPEAKER_00]: someone behind the counter can still have that view of the customer which is such an incredible

[00:10:38] [SPEAKER_00]: experience you know letting someone know where something may be in a bricks and mortar location

[00:10:42] [SPEAKER_00]: if they happen to research it online and then head into store and vice versa if I'm in store

[00:10:47] [SPEAKER_00]: and I see something you know using my phone with this little technological device that's sitting beside

[00:10:53] [SPEAKER_00]: all day long using that to take a picture scan a QR code and be able to come back and have

[00:10:58] [SPEAKER_00]: that sitting in my cart when I'm checking on any commerce properties is a pretty incredible experience so

[00:11:04] [SPEAKER_00]: I'd say well it's not the most exciting piece of technology to offer customers I would I would say

[00:11:08] [SPEAKER_00]: that having your systems your back-end systems talk to each other and being connected is a tremendous value for the consumer

[00:11:16] [SPEAKER_01]: and is that anything you can share around certain strategies that retail is more available to implement

[00:11:22] [SPEAKER_01]: to overcome some challenges like inflation competition especially with banks in the loyalty card space

[00:11:29] [SPEAKER_01]: and law programs to additionally have an reputation for falling short on those customer expectations

[00:11:34] [SPEAKER_01]: front anything that any strategies you're seeing that will help retailers overcome those challenges

[00:11:40] [SPEAKER_00]: yeah he with points has been a big piece in this world because it's really a piece of technology

[00:11:46] [SPEAKER_00]: that's allowing a consumer to spend a little more than they could right now and building the

[00:11:52] [SPEAKER_00]: additional trust with the consumers well so you know you think about your your basket sizes

[00:11:57] [SPEAKER_00]: increasing with inflation day after day and now you have the ability to really take that transaction

[00:12:03] [SPEAKER_00]: and buy it down either with the whole transaction or a piece of that transaction so where we see

[00:12:09] [SPEAKER_00]: this implemented we're seeing you know tremendous growth so the average basket size is increasing

[00:12:14] [SPEAKER_00]: 30 to 40 percent they're getting anywhere from two to three additional transactions from the consumer who's

[00:12:20] [SPEAKER_00]: got that ability to shop with an additional currency so I would say the the ability to take that currency

[00:12:27] [SPEAKER_00]: and really use it anywhere you're looking to use it as a consumer is an incredible strategy

[00:12:31] [SPEAKER_00]: and it's really going a long way to an hands consumer trust both between the loyalty scheme that's

[00:12:39] [SPEAKER_00]: ultimately giving them that currency whether it's a bank whether it's an airline a hotel or even a

[00:12:44] [SPEAKER_01]: as well as a retailer having that partnership and um pure is has allowing members to pay with

[00:12:51] [SPEAKER_01]: points is that increase customer loyalty and sales as they've been at a measurable impact that you've

[00:12:56] [SPEAKER_00]: seen since a retailer is implemented this absolutely so consumers are are really using this

[00:13:05] [SPEAKER_00]: in a I'll say the mind-blowing fashion we launched recently a very large financial institution in

[00:13:11] [SPEAKER_00]: with the ability to pay with points at your local petrol or gas station and we were expecting

[00:13:18] [SPEAKER_00]: uptake to be in the single digits and we're actually almost hitting 30 percent uptake of the offer

[00:13:23] [SPEAKER_00]: which allows a consumer to buy down the the cost per gallon for filling their car with petrol so

[00:13:31] [SPEAKER_00]: that's what example we're seeing where just providing it discount not necessarily a free

[00:13:35] [SPEAKER_00]: transaction for the consumer has generated huge huge wins for both the the station so

[00:13:42] [SPEAKER_00]: this was an impressed release so we can talk about the fact that it's BP who offers us

[00:13:46] [SPEAKER_00]: to their customer base and we are expanding to other other gas stations but they're seeing huge

[00:13:51] [SPEAKER_00]: benefits to this and at the same time I think it addresses one of the misnomers in a loyalty space where

[00:13:57] [SPEAKER_00]: people think that they don't want you to use the points regardless of what the program is

[00:14:02] [SPEAKER_00]: and the reality is as you consume your loyalty currency whether it's miles or points you

[00:14:07] [SPEAKER_00]: actually become more engaged in the program and we see that revolving earn and burn a really

[00:14:14] [SPEAKER_00]: short customer that's engaged with the brand trusting the brand in ultimately performing very

[00:14:19] [SPEAKER_01]: well for that brand. And also companies in industries bet a suit to implement loyalty points as an

[00:14:26] [SPEAKER_01]: alternative payment choice than others and and people listening that maybe we'll suffer a few

[00:14:31] [SPEAKER_01]: long bells a few live old moments at the conversation today. What kind of benefits should they

[00:14:38] [SPEAKER_00]: expect? I don't think that there's a specific industry that we're take to this better than others

[00:14:44] [SPEAKER_00]: I think there's a value across the board there's that halo effect when this happens so it can be

[00:14:51] [SPEAKER_00]: $300 transaction that maybe you're discounting because you've got a hundred dollars worth of points

[00:14:56] [SPEAKER_00]: and you see significant value there maybe that's that extra bit for you to ultimately get that TV

[00:15:01] [SPEAKER_00]: you're looking for. It's just equally as important for that free cup of coffee on the way and so

[00:15:07] [SPEAKER_00]: you know integrated into the past system where customers walk by their coffee shop and now

[00:15:11] [SPEAKER_00]: that coffee's free because of their interaction and loyalty to a specific brand. Both of those

[00:15:17] [SPEAKER_00]: scenarios bring tremendous value for the consumer and every consumer is different. Every one will

[00:15:21] [SPEAKER_00]: see value the way they want to be addressed from their brand so I'd argue that there isn't a

[00:15:28] [SPEAKER_00]: a perfect place for this to be implemented I think all places are perfect to be honest with you.

[00:15:34] [SPEAKER_01]: Then looking to the future are there any other innovations in loyalty program management and

[00:15:39] [SPEAKER_01]: indeed technology that are creating that ideal customer experience and if we look even further into

[00:15:45] [SPEAKER_01]: the future how do you see AI impacting these programs to I think as we continue to do things like

[00:15:52] [SPEAKER_00]: build out this network and what we're also seeing is a significant number of partnerships.

[00:15:58] [SPEAKER_00]: A lot of brands are becoming very comfortable with what they offer and willing to partner with other brands

[00:16:04] [SPEAKER_00]: really the future of loyalty is this cohesive journey for a customer where in their day-to-day

[00:16:10] [SPEAKER_00]: life they're interacting with a number of brands and all of those brands are connected in the background

[00:16:15] [SPEAKER_00]: and bringing value to the consumer so it could be you know, hopping on the tube and tapping my card

[00:16:21] [SPEAKER_00]: and then right before I get on I pick up a cup of coffee and then ultimately on the way home

[00:16:27] [SPEAKER_00]: using a transaction to buy some groceries to bring home and then I pay for my subscription service

[00:16:35] [SPEAKER_00]: really to watch some whether it's a sporting event, whether it's media or a movie.

[00:16:40] [SPEAKER_00]: You know there can be a cohesive journey for all of that and then all that can be anchored in the

[00:16:45] [SPEAKER_00]: background by a larger financial institution or a larger retail retailer and I think that journey is

[00:16:52] [SPEAKER_00]: going to be all called an urbanifer consumer and also for the brands themselves so obviously a lot of

[00:16:59] [SPEAKER_00]: information being computed in the background a lot of decision making and happening for the consumer

[00:17:03] [SPEAKER_00]: and for the brands. So I think again back to circling back to our the first part of our

[00:17:07] [SPEAKER_00]: conversation that's where you know tools like AI can really help brands you know having offering to

[00:17:15] [SPEAKER_00]: the consumer that that really is personalized where they really feel it's a one-to-one conversation.

[00:17:21] [SPEAKER_01]: Well the big thank you for shining a light on the continued technological innovation

[00:17:25] [SPEAKER_01]: in the loyalty and retail space and before I let you go I'm going to ask you to leave one final gift

[00:17:31] [SPEAKER_01]: everybody at least they can I always ask my guest to leave a book or a song that I can out

[00:17:37] [SPEAKER_01]: either add to an Amazon wish list or a Spotify playlist or I'm going to ask you what would you like

[00:17:42] [SPEAKER_00]: to leave as with and why. I'm going to go with a book and songs were equally intriguing for

[00:17:49] [SPEAKER_00]: everyone you asked that question. I have music in the background all of time and I think this

[00:17:54] [SPEAKER_00]: actually ties together is I really love creativity wherever that's coming from and you know one

[00:18:00] [SPEAKER_00]: of the brands that I think for the longest time was the epitome of creativity was apple and

[00:18:05] [SPEAKER_00]: no finish my second go of a book on Johnny Island from Apple the genius behind apples greatest

[00:18:10] [SPEAKER_00]: products and and I love the story there because it really exemplifies a group of people working

[00:18:16] [SPEAKER_00]: together to build something and not stopping till they're hitting kind of that perfect scenario so

[00:18:23] [SPEAKER_00]: you're carrying a boat apple product, both inside and out and not cutting any corners. So things

[00:18:28] [SPEAKER_00]: like that inspire me you know reading the stories of how deodorations of getting to the to the

[00:18:33] [SPEAKER_00]: ipod to the iPhone and even just the original iMacs not specifically because it's apple just

[00:18:39] [SPEAKER_00]: seeing individuals work so hard together and not cutting any corners and really not settling for

[00:18:44] [SPEAKER_00]: anything at less than perfection is inspiring for me so that that's one that really helped me

[00:18:50] [SPEAKER_00]: day to bring that message back to the organization here. What a great tool I said I'll get that

[00:18:55] [SPEAKER_01]: added straight to Amazon wishlist I've got to ask hello you I did know issue you used

[00:19:00] [SPEAKER_01]: or almost referred to apple in the past tense when it comes to innovation where do you stand

[00:19:06] [SPEAKER_01]: all on that reputation still innovating well as as far as you can see or room for improvement

[00:19:12] [SPEAKER_00]: I think there's room for improvement there I think the aforementioned individuals no longer with that

[00:19:17] [SPEAKER_00]: organization and you can definitely feel that there's definitely room for improvement they've got a good

[00:19:24] [SPEAKER_00]: piece and a huge bank account in order to do great things and I always encourage any organization

[00:19:30] [SPEAKER_01]: to never settle for anything less than greatness. A little bit of very diplomatically out said that

[00:19:36] [SPEAKER_01]: before I let you go anyone interested in learning more about engage people about the

[00:19:43] [SPEAKER_01]: technology and the loyalty programs that we've talked about today is anyway you'd like to

[00:19:47] [SPEAKER_00]: point everyone listening absolutely the best place to follow engages you through our website

[00:19:53] [SPEAKER_00]: but we're very active on LinkedIn so I'd encourage you to go to LinkedIn and follow engage people

[00:19:58] [SPEAKER_00]: and you can learn quite a bit about not just what we're doing as an organization but we love to

[00:20:03] [SPEAKER_00]: share you know important news across technology in general and definitely have comments out there

[00:20:08] [SPEAKER_00]: and I love to participate in conversation so please feel free to follow engage and you can follow

[00:20:12] [SPEAKER_00]: myself at Lent Kavella and welcome any feedback or any questions. We'll so well I'll add links to

[00:20:20] [SPEAKER_01]: those for people to find you nice and easily and so much I loved about Jaywee today from how AI is

[00:20:27] [SPEAKER_01]: being used to enhance the customer experience by analyzing these vast amounts of data from everything

[00:20:33] [SPEAKER_01]: from purchasing behavior browsing history demographic information but ultimately allowing

[00:20:38] [SPEAKER_01]: retailers to offer hyper personalised product recommendations and then eventually paying with points

[00:20:44] [SPEAKER_01]: of dear what people think about that and as the expectations become the norm for those kind of

[00:20:50] [SPEAKER_01]: services how retail is going to reach those expectations but more than anything just thank you

[00:20:55] [SPEAKER_01]: for shining a lie on this today thanks again or my pleasure now so as we conclude our discussion

[00:21:00] [SPEAKER_01]: with Lent Kavella for main gauge people today I think it's evident is it the integration of AI and

[00:21:06] [SPEAKER_01]: loyalty technologies is set to reshape the retail landscape and I was really interested in hearing

[00:21:12] [SPEAKER_01]: about how by enabling consumers to pay with points and leveraging data for hyper personalised

[00:21:17] [SPEAKER_01]: experiences engage people is driving innovation and enhancing customer loyalty and the future of

[00:21:25] [SPEAKER_01]: retail promises more seamless and more cohesive interactions and overcoming challenges like inflation

[00:21:30] [SPEAKER_01]: and competition with banks in this loyalty space is also very interesting and for the most

[00:21:36] [SPEAKER_01]: part whenever I see loyalty programs it always seems to be about spending more money and these

[00:21:40] [SPEAKER_01]: things seem to be any real benefit so I'm curious I want to hear more about your favorite customer

[00:21:47] [SPEAKER_01]: loyalty programs the good the bad deal glee I want to hear about them all tell me some good

[00:21:52] [SPEAKER_01]: examples bad examples and what you want from a loyalty program and just paying with points does that

[00:21:58] [SPEAKER_01]: interest you as always email me now tech blog writer outlook dot com twitter linkedin instagram just

[00:22:05] [SPEAKER_01]: at Neil see here let me know how you see these advancements impacting your shopping habits all

[00:22:11] [SPEAKER_01]: business strategies but that's it for today so thank you for listening today hope you'll

[00:22:15] [SPEAKER_01]: join me again tomorrow what until next time

[00:22:20] [SPEAKER_01]: don't be a stranger