Amazon Saw 15-Fold Jump In Forecast Accuracy With Deep Learning And Other AI Stats

  • “When Amazon switched from traditional machine learning techniques to deep learning in 2015, it saw a 15-fold increase in the accuracy of its forecasts,
  • Mastercard has used AI to…reduce fraudulent transactions by about 40%”

Google Shopping just became a serious ecommerce platform

  • “Earlier this month, Google unveiled the new Google Shopping experience in the US,
  • People turn to Amazon when they know what they want to buy but they head to Google when they want inspiration – and this could be Google’s biggest strength.
  • only 22% of consumers are satisfied with the amount of personalisation e-commerce brands offer.
  • So how does Google create this personalised shopping experience?
    • Product recommendations
    • Price tracking
    • Local product searches
    • Instant purchases”

    Walmart And Target Have Changed The Game For Amazon

    • “Same-day delivery is a new hot trend in retailing these days, according to a recent Elastic Path report, which finds that 75% of consumers expect, in the next 12 months, for  all brands to offer same-day delivery.
    • But at the same time, 72% expect curbside pickup in the same time frame.”

    Will There Be An AI Productivity Boom?

    • “Many of the canonical superstar firms such as Google and Facebook employ relatively few workers compared to their market capitalization” because “their market value is based on intellectual property and a cadre of highly-skilled workers.”
    • How will AI contribute to a boom? Perhaps it will happen indirectly, a process of “trickle-down” productivity, as ordinary firms adopt the AI technologies provided by Google and Microsoft and Amazon in the cloud.”

    Here’s what you didn’t know about Amazon’s Echo Frames

    “Amazon announced a heap of devices this week, including five new Echo smart speakers, more Ring smart home security and new Alexa commands. But the new Echo Frames smart glasses ($180) and Echo Loop smart ring ($130) were the two that stole headlines. 

    These wearable devices put Amazon’s digital Alexa assistant on your body in a way that’s different than the more expected earbuds route (though there are new Echo Buds, too, for $130 or £120). By bringing Alexa to your face and your hand, Amazon might be trying to get more personal with the little voice in the device.”