“While only a small portion of ecommerce sales come from social channels, consumer adoption has grown in the past year. We expect that more than 75 million US social network users ages 14 and older will make at least one purchase from a social channel in 2020, up 17.3% from 2019.”
- “Online sales in the U.S. jumped 74% for its fiscal first quarter that ended April 30, which captured the brunt of the pandemic’s outbreak. Same-store sales rose 10% at U.S. Walmart stores on strong sales of food, health and wellness goods.
- Ken Perkins, president of research firm Retail Metrics, said he expects earnings will be down 36.6% for the 103 retailers he tracks compared to the year-ago period.”
- “Facebook today announced improvements to the shopping experiences across its platform, including Facebook Shops, a new way for businesses to set up a single online store
- The company characterized the new products — all of which are powered by a family of new AI and machine learning system — as a step toward its vision of an all-in-one AI assistant
- Rather than manually annotate each image with product identifiers, which would have taken ages — there are 3 million possible identifiers — Facebook developed a technique to automatically generate additional identifiers using GrokNet“
- “Huang also introduced Merlin, an application framework for recommendation systems that Huang considers “the most important AI model in the world today,” one that “drives the vast majority of the economic engine of the internet.”
- Recommendation systems can decide which items shoppers see in an ecommerce store or personalize results seen on a site like Netflix or Microsoft’s Xbox.
- Nvidia also announced limited availability of the Jarvis multimodal conversational AI application framework today. Jarvis will combine graphics and conversational AI to make what Huang calls interactive 3D chatbots. You can see a demo in the video below.”
Image Credit: Khari Johnson / VentureBeat
- “The era of digital banking is well underway in the Asia Pacific (APAC) region, and is set to accelerate in the next five years, with 63% of customers willing to switch to neobanks and challenger banks between now and 2025.
- The research was made through review of 55 banks, 20 challenger banks and 40 fintech disrupters in markets throughout APAC.
- Research from the study also suggests that the success of future banks will depend largely on customer experience (CX), unlocking personalisation at scale, and embracing emerging technology – especially artificial intelligence (AI).”