[CXOTALK FRIDAY] IKEA's Chief Digital Officer in LIVE Chat!

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In episode 835 of CXOTalk, host Michael Krigsman talks with Parag Parekh, Global Chief Digital Officer at IKEA Retail (Ingka Group), to discuss the company's ongoing digital transformation. Parekh shares his insights on how IKEA is leveraging technology, data, and a customer-centric approach to revolutionize the retail experience and adapt to the changing consumer landscape.

From implementing AI-powered solutions to enhancing omnichannel capabilities and upskilling employees, Parekh offers a comprehensive look at IKEA's journey to becoming a digital-first organization. He also delves into the challenges and opportunities of driving innovation in a large, global company while staying true to its core values and mission.

Key highlights:

• Discover how IKEA is using AI and data analytics to optimize operations, personalize customer experiences, and drive business growth.

• Learn about IKEA's omnichannel strategy and how the company is integrating digital and physical touchpoints to create seamless customer journeys.

• Understand the importance of digital ethics and responsible AI implementation in maintaining customer trust and aligning with organizational values.

• Gain insights into IKEA's approach to employee upskilling and fostering a culture of innovation to support digital transformation efforts.

• Explore real-world examples of IKEA's innovative projects, such as IKEA Kreativ, and their impact on the customer experience and business outcomes.

Parag Parekh is the Chief Digital Officer at IKEA Retail (Ingka Group). He has the responsibility for developing digital capabilities and accelerating the digital transformation of the business. Parag joined Ingka Group as Chief Technology Officer, Group Digital, in 2021 and has more than 20 years of technology experience working for global companies.

Prior to IKEA, Parag held senior roles at Adidas with responsibilities for omnichannel transformation, ecommerce, and product engineering. He also spent several years as Senior Program Manager and as part of the leadership program at General Electric (GE).

Michael Krigsman is an industry analyst and publisher of CXOTalk. For three decades, he has advised enterprise technology companies on market messaging and positioning strategy. He has written over 1,000 blogs on leadership and digital transformation and created almost 1,000 video interviews with the world’s top business leaders on these topics. His work has been referenced in the media over 1,000 times and in over 50 books. He has presented and moderated panels at numerous industry events around the world.

Apr 19: Parag Parekh, Global Chief Digital Officer, IKEA

Apr 26: Kian Katanfaroosh, Computer Science Lecturer, Stanford University

May 3: Simon Allen. CEO, McGraw HIll

May 10: No show

May 17: Sol Rashidi, former Chief Data Officer, Estée Lauder

May 24: No show

May 31: Yousuf Khan, Partner, Ridge Ventures

In CXOTalk episode 834 "Value Chains: AI and Data", Mike Capone, CEO of Qlik, explains the crucial role of data in the AI value chain. He emphasizes the importance of establishing a robust data foundation and understanding the AI value chain before rushing into AI implementations to ensure accurate and effective outcomes.

Key takeaways:

Data is the starting point for the AI value chain, and organizations must focus on capturing, curating, and verifying data quality.

• Real-time, high-quality data is essential for accurate decision-making and leveraging AI's full potential.

• Improving data governance and literacy is crucial for building trust in AI-driven insights and outcomes.

In CXOTalk episode 829, Dr. John Halamka, President of the Mayo Clinic Platform, discusses the crucial role of data and AI in improving patient outcomes. He emphasizes the importance of curating high-quality, diverse data sets to develop reliable AI models that can be effectively deployed in clinical settings.

 Key takeaways:

• The Mayo Clinic Platform aims to accelerate innovation by curating global data, engaging with solution creators, and deploying AI models in healthcare systems.

• Transparency in data provenance and AI model performance is essential for building trust and adoption among clinicians.

• AI should augment human decision-making, with physicians taking ultimate responsibility for patient care.