Within the first hour of the 11.11 Global Shopping Festival, total gross merchandise volume had exceeded 67 billion yuan — nearly $10 billion. https://www.google.com/amp/s/www.zdnet.com/google-amp/article/alibaba-generates-149-billion-yuan-in-sales-in-first-12-hours-of-11-11/
Category: Uncategorized
Walmart Plans To Launch AI-Based Lab In Its Store
“US-based retail corporation Walmart is reportedly planning to launch an artificial intelligence (AI) -based lab which they are calling an Intelligent Retail Lab inside one of its stores in Levittown, New York. The company plans on using AI to help it identify when stocks are running low so that it can replenish it. The company is also…
Boost search results by 40% and increase sales by 5%
“Founded in 2012, Oulu startup Smartifik has raised undisclosed funding to develop customer facing tools based on natural language processing and natural language understanding. The product suite contains a chatbot, advanced search, personalized product recommendations, and speech recognition. The company claims its tools, targeting ecommerce clients, can boost search results by 40% and increase sales by 5%. Smartifik’s…
69% of time AI and Deep Neural out-perform existing techniques
“The highest monetary impact is in retail with estimated 0.4–0.8 $ Trillions. The consulting firm McKinsey & Company estimates that Artificial Intelligence has the potential to create between $ 3.5 Trillions and $ 5.8 Trillion in value across nine business functions in 19 industries — annually Artificial Intelligence will generate up to $ 2.6 Trillions in additional value in Marketing and Sales Additional $ 200 Billion in value will…
From $100 million in 2009 to 250 times that in 2017, $25 billion
“The global retail market is adjusting to China’s rising economic power, and Chinese customers’ desire for AI-enhanced mobile shopping experiences. Singles Day’s spread across the world suggests a new chapter of computer-enhanced shopping experiences is beginning. Alibaba, the giant Chinese e-retailer that promoted the day as an opportunity – or excuse – for single people…