“Consider the case of a little-known online bookseller, Amazon.com. As its sales ballooned by around 40% in the second and third quarters, thanks to the novel coronavirus, it hired about 250,000 new employees to handle the business surge, leaving it more than 1 million employees and on a pace to soon unseat Walmart as the…
Month: November 2020
AI-Based OCR Technology Revolutionizing the Banking Sector
“According to Statista, the UK has closed two-thirds of bank branches in the last 30 years, the US has closed nearly 9000 branches, and Europe has shutdown 6000 branches due to banking frauds, especially in digital banking. The world of technology is bringing convenience to every industry, and AI-based OCR simplifies the verification process, especially…
Black Friday online shopping comes in $9B, $3.6B on smartphones
“Adobe, which is following online sales in real-time at 80 of the top 100 retailers in the U.S., covering some 100 million SKUs, said US consumers spent $9 billion online on Black Friday, up 21.6% on a year ago. Adobe had originally forecast sales of between $8.9 billion and $9.6 billion. Smartphones continued to account…
Adobe beefs up its Magento ecommerce platform with AI and reveals early online holiday sales results
“Adobe’s Sensei uses visual AI to recognize and process product imagery and match patterns, Jason Woosley, vice president of commerce product and platform for Adobe’s Experience Business, writes in a blog post. Because the recommendations feature is visually driven, merchants do not need to collect and analyze consumer behavioral data to use it, making it…
Citi Ventures is shifting from artificial intelligence to artificial enlightenment | ZDNet
“Colella believes the tools of artificial intelligence can be used to analyze granular data in real-time in order to help provide people and organizations with personalized, in situ insights to inform and improve their daily lives and work. She believes this is artificial enlightenment (AE). According to Colella, the shift from intelligence to enlightenment is…