- “One place AI has really shined, though, is in content recommendation. It turns out that computers are frighteningly effective at targeting and disseminating content. And oh boy, did we underestimate the incentives and impacts around that aspect of data and AI.
- As a professor, I’d award it a passing grade, but not an A. There is substantially more data available to us with more uses than we probably ever could have imagined. That’s led to incredible advances in AI and machine learning along with analytics, but on many tasks, we’re still just scratching the surface, while on others we’re reaping the whirlwind. I am fascinated to see what the next 10 to 20 years will bring and look back on these issues again.”
- “81% of bank and credit union executives believe that unlocking value from AI will be the key differentiator between winning and losing institutions, research by The Economist Intelligence Unit and Temenos found.
- Appen, a data collector, found that 71% of technologists say that Covid either somewhat or significantly accelerated their AI strategy.
- And one of the biggest spenders will be banks and credit unions, only slightly outpaced by retail. Banking will account for 13.7% of AI spend versus 13.8% for retail.
- According to PublicisSapient, almost one-third (29%) of banks say that lack of skills have been a barrier to transformation. To fill their talent pipeline, 37% of banks and credit unions are beginning to invest more heavily in their people and develop their existing talent.
- Gartner predicts that cloud-native platforms will serve as the foundation for more than 95% of new digital initiatives — up from less than 40% in 2021.
- Gartner predicts that by 2025, the 10% of enterprises that establish AI engineering best practices will generate at least three times more value from their AI efforts than the 90% of enterprises that do not.”
- “Companies are struggling to provide a consistent and holistic omnichannel experience for their customers while blending remote and in-person work.
- As many as 50% of respondents intend to improve management of customer data as their top CX priority over the next 12 months because they recognize that creating the immersive, personalized, and compelling experiences customers now expect”
Read the full report by Forrester
“Here are 10 of the top tech trends that will transform shopping.
Predictive Analytics (Big Data)
Order Fulfilment Automation
Robotic Store Assistants
Customer Chat Bots
Internet of Things (IoT) and Smart Equipment”
“How is Tesco leveraging big data and analytics?
Retail is a very competitive business and the ability to crunch large volumes of data using emerging technologies such as AI, ML, and big data analytics is important. Tesco is looking to use big data and ML to help customers shop better.”
Chief Technology Officer