On August 21, the 2024 Volcano Engine AI Innovation Tour Shanghai Station event was successfully held. At the event, Volcano Engine, in collaboration with DMALL, announced the establishment of the Retail Large Model Ecological Alliance, with many retail representative enterprises such as Wumart, Douyin E-commerce, Haidilao, Pagoda, McDonald's, etc. responding.

It is understood that the Retail Large Model Alliance is initiated by Volcano Engine and supported by DMALL in terms of technology. By integrating advanced large models, AI capabilities, and large consumer application scenarios, it promotes the intelligent upgrade of the retail industry, enhances the overall efficiency and innovation ability of the industry, in order to adapt to the constantly changing market demands and consumer behaviors, and accelerates the innovation pace of the retail industry.

Zhang Wenzhong, the founder of DMALL, attended on behalf of the technical support party of the Retail Large Model Alliance and delivered a keynote speech titled "AI + Retail, Creating a Smart Future".

First, Zhang Wenzhong briefly reviewed the development process of the retail industry from informatization to digitalization, and to today's AI era. He believes that AI + retail has shown an irresistible trend and great potential. Because the retail industry has entered the stock era, to achieve growth, it is necessary to improve the experience and increase efficiency, and the most needed thing in this is technological innovation.

Regarding the basis for the value creation of "AI + Retail", Zhang Wenzhong believes that currently, from cost, capability, value recognition to application scenarios, they are all available. Previously, digitalization has laid a good foundation for the retail industry. Retail enterprises are actively preparing for the AI era in terms of cognition, process, data, organization, and other aspects.

Zhang Wenzhong also introduced the multi-scenario AI product practices of DMALL, such as intelligent loss prevention, intelligent replenishment, AI customer service, AI clearance, etc., which have been implemented and achieved practical results. These explorations will provide valuable experience for the full-scenario AIization of the retail industry.

Zhang Wenzhong said that the Retail Large Model Ecological Alliance is for retail enterprises to stick together, share the technological achievements and best practices within the alliance, and reduce enterprise costs. It is the best choice for current retail enterprises to embrace AI. "We must fully embrace AI, not only for a better future, but also for survival," Zhang Wenzhong said.