The Retail Innovation Index is available to RIC executive members and Dunnhumby’s partner network, and acts as a collaborative platform for the evolution of innovation best practice, using insights from Dunnhumby Ventures and from the firm’s strategic consulting and research capabilities.

Research participants will also be provided with confidential insights from Dunnhumby to provide them with an industry-wide innovation ranking and personalised innovation strategy recommendations, identifying key organisational blockers, opportunity areas and priorities.

Dunnhumby will also support the RIC and its partner network by developing a new standardised scorecard for choosing technology startups based on their retail adoption readiness.

Leo Nagdas, head of corporate development and innovation at Dunnhumby, and who has joined the RIC to lead its Strategy & Innovation Executive Steering Committee, said: “With over 50,000 organisations claiming to operate in the AI space, this ecosystem explosion is disrupting retailer and brand innovation decisions due to an overabundance of choices – which use cases, when, and with which vendors to test.

“Our specialty expertise, combined with RIC’s executive platform, can guide industry executives towards clarity in today’s uncertain times.” 

Sandeep Arora, chair of the Retail Innovation Council and UK Launchpad, said: “By partnering with long-standing retail technology leader Dunnhumby, we will be able to move towards elevating innovation practices across the region while individually supporting each of our executive council members in their leadership roles.”