AI Rewrites the Retail Playbook

This episode of "Thoughts on the Market," recorded live from Morgan Stanley's Global Consumer and Retail Conference, features a panel discussion on the U.S. consumer and the impact of AI on consumer companies. The panel analyzes AI implementation across various sectors, with examples from Walmart's full-scale AI deployment to Hershey's targeted advertising and General Mills' supply chain optimization using digital twins. The discussion also covers the potential of "Agentech Commerce," including sales cannibalization and retail media, and its impact on retailers. The episode concludes with a macroeconomic perspective on AI's contribution to GDP growth and its potential impact on the labor market, with expectations of increased productivity and complementary effects on labor in the near term.