“Many commentators predicted that 2020 would be the “year of the fintech” as truly digital banks began to redefine the customer experience. But, since the onset of the pandemic, leading challenger banks have seen a significant drop in app downloads. In the UK, Monzo, Revolut and Starling saw app downloads decline 18% -36% in March….
Month: May 2020
As Walmart becomes a lifeline, online sales surged 74%
“Online sales in the U.S. jumped 74% for its fiscal first quarter that ended April 30, which captured the brunt of the pandemic’s outbreak. Same-store sales rose 10% at U.S. Walmart stores on strong sales of food, health and wellness goods. Ken Perkins, president of research firm Retail Metrics, said he expects earnings will be…
AI For Wealth Management: How Banks Should Prepare
“Already, 46% of consumers admit that they feel overwhelmed when it comes to financial affairs. Empowering them with the right tools can help you secure their loyalty for the next decade. That is particularly important as, by 2029, millennials will control the largest share of disposable income, making them the ideal candidates for wealth management…
Microsoft teamed up with OpenAI to build a massive AI supercomputer in Azure
“At its Build developer conference, Microsoft today announced that it has teamed up with OpenAI…to create one of the world’s fastest supercomputers Microsoft says that the 285,000-core machine would have ranked in the top five of the TOP500 supercomputer rankings. To be in the top five of supercomputers, a machine would currently have to reach…
Facebook details the AI behind its shopping experiences
“Facebook today announced improvements to the shopping experiences across its platform, including Facebook Shops, a new way for businesses to set up a single online store The company characterized the new products — all of which are powered by a family of new AI and machine learning system — as a step toward its vision…