7 AI startups aim to give retailers a happy holiday season

“Santa Clara, California-based AiFi offers a frictionless and cashierless retail AI-powered solution deployed in diverse locations such as sports stadiums, music festivals, grocery store chains and college campuses. Steve Gu cofounded AiFi in 2016 with his wife, Ying Zheng, and raised a fresh $65 million in March. Both Gu and Zheng have Ph.D.s in computer vision and spent time at Apple and Google.”

https://venturebeat.com/ai/7-ai-startups-aim-to-give-retailers-a-happy-holiday-season/amp/

Immersive technologies are shaping the future of e-commerce right now

  • “Consumers want to be able to create something unique that fits their needs; 47% would pay extra for a product if they could customize or personalize it using immersive technologies.
  • 42% want to use immersive tech to assess product features and experience products before purchase
  • Conversion rates can increase by 94% for products supported by AR try-on technology, with a 5% reduction in the rate of returns.”

https://www.thedrum.com/opinion/2022/09/20/immersive-technologies-are-shaping-the-future-e-commerce-right-now

AI-powered personalization: The key to unlocking ecommerce growth

  • “Forty percent of customers prefer targeted ads aligned to what they are looking for to make the buying process easier. This could be why behaviorally targeted ads are twice as effective as non-targeted ads. AI helps marketers run more targeted brand campaigns, which eventually helps them decrease their marketing spend and increase their revenue.
  • A shoe retailer from London experienced an 8.6% increase in add-to-cart rate after serving personalized recommendations that appeared when a customer added one item to their cart.
  • The modern customer is spoiled. Seventy-five percent of customers expect to be taken care of within five minutes.”

https://venturebeat.com/ai/ai-powered-personalization-the-key-to-unlocking-ecommerce-growth/amp/

How E-Commerce Trendsetter Sephora Is Giving Its Digital Business a Tech Makeover

  • “The switch to commercetools gives Sephora the ability to utilize cutting-edge MACH architecture technology principles, which are designed to make it easier for companies to add or replace tech components in the future and respond rapidly to changing demand.
  • MACH architecture stands for microservices-based, API-first, cloud-native, headless. Sreedhararaj spelled out for CO— how each of those attributes are essential for Sephora’s digital future.”

https://www.uschamber.com/co/good-company/the-leap/sephora-cto-discusses-new-tech-platform/amp

US commercial bank Truist acquires tech firm Zaloni’s Arena platform

  • “Truist will acquire the Zaloni Arena platform, which the firm hopes will accelerate its data governance, metadata management, advanced analytics and artificial intelligence and machine learning (AI/ML) programmes.
  • The Arena platform offers data for advanced analytics and AI/ML use cases using an “intelligent and collaborative” data catalogue, automated governance and “unified observability” that it claims reduces IT costs and accelerates time to insight.”

https://www.fintechfutures.com/2022/08/us-commercial-bank-truist-acquires-tech-firm-zalonis-arena-platform/