Sears’ bankruptcy underscores the need for tech innovation in retail

2019-2-24 16:30

The demise of Sears provides a perfect cautionary tale. By all accounts, the former retail giant — which was in a “death spiral for well over a decade” — is paying a steep price for its failure to innovate in new technology.

Yet, the means for Sears to do just that was available. Business technology has been advancing at a rapid pace over the past decade. Deep Learning and Artificial Intelligence (AI), along with an unprecedented availability of data, have made it possible to extract business insights like never before. Could an early adoption of AI have saved Sears? I…

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