- “In 2016, along came a fledgling software company called Phrasee–the pioneer of AI-powered copywriting. Phrasee’s computational linguists constructed eBay’s bespoke language models which, in just five minutes, produced human-sounding copy at scale that was tailored to eBay’s plans, promotions and brand voice.
- In the US, eBay has enjoyed a 15.8% average open rate uplift and a 31.2% average click rate uplift, providing a consistent ROI on all campaigns.”
“This comes as Facebook works towards a full launch of Facebook and Instagram Shops, which will make it easier for retailers to sell products direct on two of the most used social apps in the world. Facebook is still ironing out the details, but Facebook Shops could be a transformative move for the platform, and for digital commerce more broadly.”
- “While voice assistants and autonomous technology can dominate conversations around AI, decision-making powered by machine intelligence is the vast middle ground that is realistic for the majority of companies.
- The report cited research showing only 15% of small businesses had implemented AI-powered chatbots while mid-sized companies showed 39% adoption rates, and large companies came in at 67%.”
- “After exploring intelligent automation for several years now, BMO is accelerating its robotic process automation (RPA) strategy.
- BMO has employed automation for hundreds of processes and in doing so, created millions of dollars in value for the bank.
- Bots are helping their BMO colleagues by performing testing and monitoring functions, tightening controls, fighting crime and speeding up client onboarding processes.
- Launched on March 13, RAMBO (Remote Access Management Bot) was integral during the first stages of the COVID19 response, enabling BMO to quickly and effectively transition its workforce to remote network access. More than 11,000 requests were reviewed and triaged by RAMBO, providing an additional 1,300 hours of team capacity to address this critical activity.”
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- “Fintech is forecast to achieve a compound annual growth rate (CAGR) of 25% through 2022, reaching a market value of $309B. The broader financial services market expected to reach $26.5T by 2022, achieving a 6% CAGR.
- The following graphic from the World Retail Banking Report, 2020 by Capgemini and Efma, reflects how traditional banks and financial services firms are not capitalizing on the data richness they have available to them.
- Deloitte Insights’ recent survey of AI and machine learning adoption in Financial Services found firms cluster in three performance categories of Starters, Followers and Frontrunners.”