Google MUM is Coming to Lens

  • “Google announced that their next generation super algorithm MUM is coming to their Google Lens product. This fulfills the promise of MUM which allows a user to search not just with text but with images as well.
  • This helps when you’re looking for something that might be difficult to describe accurately with words alone.
  • MUM, our advanced AI model, is coming to #GoogleLens early next year. You’ll be able to snap a photo AND ask a question, which can be helpful in those moments you need to fix a broken part and have no idea what it is”

https://www.searchenginejournal.com/google-mum-is-coming-to-lens/421385/

Nextech AR and Kohls Expand Augmented Reality Contract For Ecommerce

“Extensive product testing which began with Kohls’ Innovation Center, validated Threedy’s return on investment (ROI)., Kohls in collaboration with Nextech is now significantly scaling WebAR for Ecommerce, creating thousands of new 3D models that will enhance the augmented reality experience for Kohls’ customers. With Nextech’s 3D WebAR for Ecommerce solutions, Kohls’ customers can review products dynamically within any desired backdrop.”

https://www.businesswire.com/news/home/20210831005331/en/Nextech-AR-and-Kohls-Expand-Augmented-Reality-Contract-For-Ecommerce

AI-powered ecommerce recommendation engine Constructor nabs $55M

  • “Online commerce conversions are well behind in-store — the average online shop sees less than 3% in conversions.
  • But even though $4.2 trillion was spent on ecommerce platforms in 2020 alone, few ecommerce retailers have invested in a digital merchandising strategy.
  • It’s estimated that $35.3 billion is lost every year by U.S. businesses in customer churn caused by avoidable customer experience issues, such as fair treatment and responsive service.
  • Constructor competing mostly with older installs built in-house as well as startups like Vue.ai, Syte, and Intellimize.”

https://www.google.com/amp/s/venturebeat.com/2021/09/15/ai-powered-ecommerce-recommendation-engine-constructor-nabs-55m/amp/

The Holidays Are Approaching. Here’s How Retailers Can Prepare.

  • “In recent years, seasonal shopping has started earlier and earlier, with around 40% of consumers beginning to cross items off their holiday lists before Halloween.
  • When it comes to marketing, digital is likely going to be your most important channel for the holiday shopping season. But don’t create your messaging in a vacuum.
  • ‘Customers want cross-channel shopping experiences that are seamless across online, offline, and partner interactions—which rely on the essential integration of associated network systems among all three environments,’
  • There is an abundance of data you can use to calibrate your operations during the holiday season. With the help of AI, you can draw useful, actionable insights from that data much quicker than you’d be able to with traditional business intelligence techniques.”

https://www.forbes.com/sites/rhettpower/2021/09/05/the-holidays-are-approaching-heres-how-retailers-can-prepare/?sh=4a79d0a94666

Retail Set to Overtake Banking in AI Spending

“Retail is poised to overtake banking as the top spender on artificial intelligence as companies including Home Depot Inc. and Wayfair Inc. turn to the technology for a wider range of operations, from inventory management to more personalized online search and shopping, according to market researcher International Data Corp.

‘Everything you can think of in almost every part of retail is being powered by AI,’ said Jeremy King, Pinterest Inc.’s senior vice president of engineering”

https://www.wsj.com/articles/retail-set-to-overtake-banking-in-ai-spending-11631007001