“Reportedly, the move will help Flipkart to deliver real-time pricing and product analytics to its seller partners. According to an ET report, industry insiders have hinted that Flipkart bought the retail intelligence startup for around $30-40 million. Upstream Commerce offers a suite of products related to predictive price optimization, pricing intelligence, lifecycle intelligence among others….
Tag: AI eCommerce
Build, buy, or both? The AI implementation conundrum – Pedro Alves, Ople
“Let’s assume you are in ecommerce, and you’re interested in predicting the likelihood of a customer checking out her shopping cart. If you are making the prediction based on factors like the previous purchase history and time spent on site, you will get a reasonable outcome. But if you are looking at factors like the…
90% of retailers expect to have AI within five years
“A new report from VoucherCodes.co.uk and WBR Insights has revealed that over 90% of retailers expect to have Artificial Intelligence (AI) or virtual assistant technology operating in-store and online within the next five years. In a report interviewing 200 senior executives at major UK and French retailers, VoucherCodes.co.uk has revealed that retailers are investing in…
China’s digital economy rose 18 percent to $3.8 trillion last year
The National Development and Reform Commission has a new agreement with the China Development Bank to offer 100 billion yuan ($14.55 billion) in financial support for the digital push. China’s digital economy rose 18 percent to 26 trillion yuan ($3.8 trillion) last year, equal to a third of the country’s gross domestic product (GDP), according…
Walmart turns to Flipkart for tech
“In fact, Flipkart’s AI for India initiative was run by Sachin, who moved out of Flipkart right after the acquisition by Walmart. Flipkart already has more than 50 data scientists and is training another 100 of them. Hiring, too, is on. It is expected to have more than 250 data scientists and AI experts in…