Future-Proofing Hong Kong for the 4th Industrial Revolution: Retail

Note: This event will be held via online livestream! RSVP and you will be sent the stream information on the day of the event

Survival of the Fittest: Transforming The Retail Industry with the AI.

The 4 pillars of the Hong Kong economy are tourism, professional services, finance and trading logistics. Does the retail industry ready for the 4th Industrial Revolution?

Retail industry

Every participant in the retail industry is anxiously staying alert since the start of 2020. According to the latest figures released by The HK Census & Statistics Department, the value of total retail sales in March 2020, provisionally estimated at $23.0 billion, decreased by 42.0% compared with the same month in 2019. For the first quarter of 2020, it was provisionally estimated that the value of total retail sales decreased by 35.0% compared with the same period in 2019. (HK C&SD: Press Release: May 5, 2020) A government spokesman further claimed that the business environment for retail trade will remain very difficult in the near term amid the deep economic recession and sharp deterioration in the labour market. Therefore, survival becomes the core concern of the retailers in the post-pandemic era.

Survival of the fittest, a golden rule of Darwinian evolutionary theory, is particularly true to the situation of the retailing industry nowadays. High-priced expenses on rent, labour cost, and the financial input on operating a store may no longer be affordable to many retailers. Alternatively, “Go-online”, “Amazon-like here-and-now products and services” seem to be the feasible solutions in which the new customer experiences have been evolving with the Tech advancement from time to time. Nonetheless, not many retailers have concrete ideas on leveraging their businesses with the help of cutting-edge AI technologies.

In light of this, Mr Robin Karmakar (Global AI Responsible – Production at H&M) and Mr Lavine Hemlani (Founder & CEO of Xccelerate aka Vice President of AI Society of Hong Kong) are going to explore what and how AI transforms the Retail Industry in Hong Kong through a fireside chat from 19:00 on 11th June via online livestream.

Topics we will cover:

• Is the Retail industry future proofed with A.I technologies?
• What are the disruptive technologies shaping the Retail Industry?
• What other leading countries are doing to stay ahead
• Which jobs in the retail sector will inevitably become redundant
• How can retail employees adapt their careers?
• How are retailers upskilling their workforce?
• What support is there to help Retailers in an increasingly data driven industry?

Who should attend:

• Anyone personally or professionally invested in the Retail Industry
• Those looking to future proof their careers
• Employers and execs that what a high-level overview of emerging technologies that are transforming the way retailers do business
• This event is part of a multi-event series, with each workshop going deeper into the individual pillars. More details will be announced during this event.

Guest Speakers:

Robin Karmakar
Global AI Responsible – Production at H&M

Lavine Hemlani
Founder & CEO, Xccelerate

For more information, please click HERE.