With the sudden advent of AI and its expected impact on both business and society, companies and organizations are taking steps to best position themselves for the future—that seems to be unfolding very quickly. The National Retail Federation is placing great focus on technologies that are impacting policy and risk management of the global retail industry, having just announced launch of a new NRF Center for Digital Risk & Innovation.
The Center’s mission is to establish best practices and guidance for retailers relating to key technology issues, as well as amplify the voice of the retail industry in technology policy debates. Its immediate focus will be on cybersecurity, digital fraud prevention, and artificial intelligence and machine learning.
NRF Vice President of Retail Technology and Cybersecurity Christian Becker will lead the Center as its Executive Director where he will leverage existing activities from NRF’s CIO Council, IT Security Council, Fraud Prevention Professionals Working Group and AI Working Group. In addition, an external advisory board will be comprised of retail technology executives, industry partners, academics and other subject matter experts.
NRF President and CEO Matthew Shay describes the value that the Center will bring.
“The NRF Center for Digital Risk & Innovation will enhance our ability to shape the public debate on technology issues important to the retail community. Its work will ensure that retailers can remain innovative, competitive and secure in serving their customers as the technology landscape continues to evolve.”
The retail industry is the nation’s largest private-sector employer supporting one in four U.S. jobs – 52 million working Americans, according to the NRF. In view of this, the NRF is spurred to have a role in the debates surrounding technology, most recently centering on artificial intelligence which is expected to have a major impact on whole industries and each’s respective workforce.
NRF Chief Administrative Officer and General Counsel Stephanie Martz emphasizes that all areas of the retail industry are impacted by advancements in technology, stating, “The recommendations and best practices developed through the NRF Center for Digital Risk & Innovation will serve retailers of all sizes as they navigate investing in technology as a competitive advantage.”
