ChannelAdvisor’s preliminary results for Black Friday show a 31% increase (year over year) in GMV. In 2019, GMV peaked at $69.5M on Black Friday compared to $52.9M in 2018. What has changed is that we continue to see shopping via mobile increasing, with roughly 40% of e-commerce sales coming via smartphones. Image Source: Pixabay https://www.wraltechwire.com/2019/12/05/as-ecommerce-booms-whats-driving-sales-how-can-brick-and-mortar-shops-survive-heres-a-look/
Month: December 2019
Digital bank Chime quadruples valuation in less than a year to $5.8 billion as it takes on megabanks
“Chime, the largest of a new breed of branchless U.S. banks, raised $500 million in a series E round it closed recently valuing the company at $5.8 billion, according to people with knowledge of the situation. That is a remarkable increase from its last round nine months ago, when it raised $200 million at a…
How customer-facing AI can supercharge engagement
Wow, wow…yes I believe it…wow. “A common sales conversation today tends to look something like this: The banker pulls out a menu of services and unleashes every possible product combination, leaving the customer overwhelmed. The customer might leave with one or two products, as well as the feeling that the banker didn’t take the time…
WITH GREAT POWER COMES GREAT RESPONSIBILITY: ARTIFICIAL INTELLIGENCE IN BANKING
“Arguably, no large financial institution can afford not to integrate AI into its business, but care should be taken to establish audit trails and make the parameters of AI deployment transparent and available for scrutiny. In broad terms, the use of AI in financial institutions can be categorised into four groups. The first is in…
Risk Managers Grapple With Potential Downsides of AI
“A blind spot for risk managers in financial services is itself becoming a risk: Few say they have the know-how to properly analyze the potential downsides of artificial intelligence. 11%percent of risk managers in banking, capital markets and insurance say they are fully capable of assessing AI-related risks, according to a survey of 683 risk managers…