“A June report from the Boston Consulting Group predicts a drop in sales of personal luxury goods from 25 to 45 percent due completely to the pandemic One of the recommendations from the BCG report for luxury brands is to build an artificial intelligence (AI)-driven technology backbone and accelerate eCommerce. From April through June, engagement…
Month: August 2020
Incumbent banks favour inhouse AI development
“‘The early results are saying that just shy of two-thirds, about 57 percent, are developing their own [AI capabilities], 22 percent are co-developing with partners and just nine percent are in market actually buying the solution outright, with the remainder not currently active in any of those three right now,’ he said.” https://www.bobsguide.com/guide/news/2020/Aug/18/incumbent-banks-favour-inhouse-ai-development/
Octane AI Launches Shoppable Quiz, Enabling Ecommerce Brands to Create Personalized, Consultative Online Shopping Experiences
“‘We are creating a better way to shop online. The Octane AI Shoppable Quiz enables brands to get to know the needs, preferences, and concerns of each customer, and then uses this information to build a relationship where the right products and information can be shown at the right times.’ Interactive content like quizzes have…
Artificial Intelligence in Banking: Hong Kong Academy of Finance Publishes Report on AI and Fintech
“The most extensive use of AI applications can be seen in the middle office functions, accounting for some 57% of total number of use cases where the technology has been adopted or planned to be launched. This is followed by customer services accounting for 17%, while front and back offices account for 12% and 14%…
Many e-commerce platforms ‘could fail by next year’
“Nearly two-thirds (64%) also believe that their e-commerce platforms should be updated because of an increase in online sales. Businesses looking to invest in new e-commerce platforms are said to be focusing on four core areas: Headless, Microservices, API-first and Cloud-native. In a bid to make the transition more effectively, 80% of businesses reported looking…