New report from McKinsey. Building the AI bank of the future. Summary of the contents: “AI bank of the future: Can banks meet the AI challenge? Artificial intelligence technologies are increasingly integral to the world we live in, and banks need to deploy these technologies at scale to remain relevant. Success requires a holistic transformation…
Month: May 2021
AI Will Fuel the Financial-Services Revolution. Here’s What to Know.
“AI leads to higher automation, can help control risks and can improve the speed and accuracy of decision-making. According to McKinsey, AI could potentially unlock $1 trillion of incremental value for banks every year. We need AI in banking as much as we need software. The past few years have seen a huge demand for…
Amazon Vs. Brick And Mortar: Why The Future Of Retail Is Omnichannel
“Over 8,400 retail stores across the United States closed in 2020. ‘There’s a sort of misconception that e-commerce growth means the end of the store, that e-commerce essentially eliminates the need for the store, both for retailers and for customers…And the reality is, it doesn’t.’ But customer preferences are evolving, and COVID-19 sped up that…
Young Brazilians prefer AI over humans for e-commerce advice
“80% of Brazilian consumers buying goods or services online would accept recommendations from an AI-driven system to support their decision making, while 20% are happy to fully delegate the choice to the platform. When it comes to Brazilians who frequently shop online, the percentage of those who would delegate the choice to an AI robot…
Virtual Try-On Is More Than A Pandemic Trend – And These Brands Are Reaping The Rewards
“Partnering with fashion giants like Farfetch and Prada to start, Snap’s new machine learning technology will utilize ‘3D Body Mesh’ to replicate real-life fits as Snapchatters try virtual clothes on via the camera, implementing voice-enabled controls to let the app know they’re looking to browse and try on in AR. ‘70% of consumers feel that…