- “People looking to scoop up Cyber Monday deals spent 1.4% less this year than last, according to the Adobe Digital Economy Index, with online sales in the US on Monday totaling $10.7 billion. Salesforce had a different result for Cyber Monday, saying sales rose 3% from 2020 to $12.3 billion this year.
- Salesforce said spending was up 4% from last year for the full week leading up to Cyber Monday, hitting $61 billion.
- Amazon, the country’s largest online retailer, didn’t provide any sales figures, but said it was the company’s ‘biggest kickoff to the holiday shopping season ever.’”
“Data and AI Will Differentiate Winners from Laggards
As mentioned in previous articles, data and analytics is the fuel that powers all other components of digital banking transformation. In 2022, it is expected that the combination of data and AI will be the most important differentiator between winners and losers in the marketplace. Customers expect their financial institution to know them, understand them and reward them – in real-time – based on their daily lives and changes in their financial profile. Using internal resources, and partnering with third-party solution providers, financial institutions will be able to replicate the intelligent experiences they became accustomed to during the pandemic with Netlix, Instacart, Google, Amazon and others.”
- “One of the bigger highlights from the study specifically focused on millennials, the largest generation in the U.S. labor force today, who are increasingly ready to work side-by-side with this technology. In fact, more than a third (35%) of millennials believe humans and machines can work together and 63% believe automation in the workplace is a good thing — especially if used to alleviate certain work burdens.”
“If you believe Facebook, the future is a virtual reality “metaverse.”
The tech giant, which changed its name to Meta last month, plans to invest $10 billion this year to develop products that support augmented and virtual reality — a robotic hand, high-tech VR glasses and sophisticated software applications, to name just a few. Analysts expect the company to spend at least $50 billion to achieve its promise of a virtual reality future.
But Meta is far from the only player. In fact, a half-dozen other companies are already building out the hardware and software that will be the next generation of virtual interaction — something Wall Street sees as a $1 trillion market. The companies include Google, Microsoft, Apple, Valve and others building out products for work and communication. Smaller startups are likely to join them as investors flood into the market.”