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Tokyo, Japan and Singapore, Sept. 29, 2022 -- NEC Corporation (NEC; TSE: 6701) has been awarded the 2022 Southeast Asia AI in Retail Competitive Strategy Leadership Award by Frost & Sullivan. NEC's ability to meet customer's needs and capitalize on new growth opportunities by leveraging strong AI capabilities was highly recognised and positioned the company as a competitive strategy leader in AI solutions for the retail sector.

For this AI in Retail Competitive Strategy Leadership Award, Frost & Sullivan analysts independently assessed NEC based on two criteria:

Strategy Innovation

Effectiveness; Execution; Competitive Differentiation; Executive Team Alignment; and Stakeholder Integration

Customer Impact

Price/Performance Value; Customer Purchase Experience; Customer Ownership Experience; Customer Service Experience; and Brand Equity

Hemangi Patel, Industry Analyst, Frost & Sullivan, said, "NEC Corporation provides extensive end-to-end retail-as-a-service capabilities that empower retail customers to build and deploy proprietary AI solutions at scale. Developing modern front-end and back-end apps for retail, the company capitalizes on AI, cloud, and data technologies to support customers in their digital transformation journeys. It reinforces its consumer-centric retailing approach and compelling value proposition through in-house platform offerings, consultation services, and strategic partnerships with major technology vendors. With a proven track record in delivering large and complex AI and analytics projects for retail customers, NEC Corporation continues to strengthen its service provider role in Southeast Asia's highly competitive AI landscape."

Artificial intelligence (AI) technologies are increasingly being used across various domains. In the retail industry, AI helps retailers gain new business and customer insights while enriching customer experiences and efficiently managing business operations. Particularly during the COVID-19 pandemic, there was a massive shift in customer behaviour as the use of mobile devices for shopping took off exponentially. Retailers are gradually embracing the concept of omnichannel commerce and are looking for a more sophisticated version of the online-to-offline retail model.

Loke Siew Yeng, Vice President Digital Business Unit, NEC APAC, said, "We are honoured to receive this accolade by Frost & Sullivan. This is all thanks to our dedicated staff, partners and customers who are willing to engage in co-creation to develop solutions that address challenges and bring social value. NEC is committed to co-creating solutions with stakeholders of all levels to realize a safer, prosperous and sustainable future."

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Posted by Veronica Silva Cusi, news correspondent
Source: https://en.prnasia.com

Date Posted: Friday, September 30, 2022