Shinsegae Group said it will team up with U.S. artificial intelligence (AI) corporations Reflection AI to apply AI across retail, from product sourcing to customer management. It will halt its existing talks on collaboration with OpenAI and unify its partner to speed up projects such as building a data center.
On the 17th, Shinsegae Group signed a memorandum of understanding (MOU) with Reflection AI in San Francisco in the United States on building and jointly operating an AI data center. The two sides said they will pursue retail innovation through AI that both the company and customers can feel.
A Shinsegae Group official said, "We decided to halt collaboration talks with OpenAI to expand cooperation with Reflection AI into retail and to push ahead with building an AI data center quickly and efficiently." Shinsegae Group signed an AI commerce MOU with OpenAI on the 6th.
Collaboration with Reflection AI will be carried out across six areas centered on E-MART: product sourcing, ordering, pricing, logistics, inventory management, and customer management. In effect, it covers the entire process by which retail corporations run their business.
With AI applied, demand forecasting and price optimization will be further advanced, enabling timely supply of products customers want and offering them at reasonable prices. In logistics and inventory, inefficiencies are also expected to decrease, improving operational efficiency.
E-MART working-level staff plan to meet Reflection AI, which will visit Korea at the end of this month, to discuss specific execution plans. Chief Executive Officer (CEO) Misha Laskin and other executives and employees are also scheduled to hold a workshop with Shinsegae Group management as well as E-MART.