The M3 Center for Hospitality Technology at University of South Florida Sarasota Manatee, the USA together with Gabelli School of Business Fordham University, USA; College of Tourism and Service Management, Nankai University, China; Department of Retailing, University of South Carolina, USA, and Association of North America Higher Education International (ANAHEI) would like to invite you to the first Think Tank on Services and Retail Management (SRM 2030) on May 13, 2019, at 9 AM - 3 PM, one day before the Global Conference on Creating Value (http://www.creatingvalue.co/conference/) which will take place on 14 and 15 of May. There will be two sessions, first concentrating on the Service Industry and second on Retail Industry.
What: Service/Retail Management 2030 Think Tank (SRM 2030)
Where: Fordham University, Gabelli School of Business, New York City, NY, USA
When: May 13, 2019, from 9 am to 3 pm.
Fee: Free to attend, but attendance is invitation only (Please fill out the interest form below)
Regardless of the industry, smart business owners know that if they want to excel and remain relevant, they need to keep up with the latest technology. The fast-paced development and change is affecting the service industry. Some examples would be the management and successful use of data that was collected (there has been more data produced in the last two years than in the history of mankind) to offer personalized services. The need for continuous training and re-learning, and how is technology impacting these needs (self-directed learning trends). Outsourcing some human duties to machines such as bartending and salad-making duties on cruise ships and in airports, and room service in hotels. Almost all hotels are offering app check-in and some even facial recognition. Cognitive technology (natural language processing and speech recognition) will develop and by 2020 it is predicted that 95% of banking, eCommerce, healthcare and education business will adopt it. Furthermore, although very popular now, chatbots will be paired with AI and manage an unlimited number of requests, give replies quickly, and manage more effectively with difficult customers. Special, real-time predictive analytics which will allow "customer success departments" to predict when a job will start and how long it will take until completion. In marketing, advertising, media or business management, the internet of things (IOT) could provide information on how consumers engage with products by tracking their interactions with digital devices.
We live in the age of immediacy and it has had a major impact on the way businesses are run and the types of services they offer. Artificial intelligence is no longer a thing of the future, many retail stores should plan on adopting these smart platforms, offering customer-centric insights, that help with revenue management, getting to know the customers better than they know themselves. Virtual Reality and Augmented Reality are changing the way we are shopping today. A more advanced voice-recognition system will be implemented that will move beyond replenishment items or products that are ordered routinely; chat bots acting as personal shopping assistants. The implementation of block-chain technology will be much more common, suppliers and retailers being able to track their shipments closely, reflecting better efficiency and delivery times for consumers. Robots being used in warehouses (Amazon), assembly, and inventory management. Smart shelf technology that processes real-time data on customer preferences and inventory to assure the correct mix (Hershey).
The goal of this Think Tank is to create a research agenda for service and retail management academicians. A special issue will be organized in the Journal of Services Marketing (SSCI IF 2.408) from this think tank. In addition, various white papers will be published.
Main objectives of each theme/track will be:
To identify major forces driving change and to estimate the timing of these changes, and
To generate a series of research questions for academicians (to help the industry copes with these changes better.
To create groups to write academic papers to address the challenges and opportunities of the future in services/retail management.
If you have any questions, please feel free to email email@example.com or one of the chairs or coordinator.
Please note that the SRM2030 Think Tank is free of charge and by invitation only. Please register below. If you do wish to participate in the Global Conference on Creating Value which will take place on 14 and 15 of May, please let us know as you will receive a $200 discount.