- “For millennials, 89% prefer to learn about a product through their friends or families rather than hard marketing materials.
- According to Gartner, by 2021 over 80% of emerging technologies will have AI foundations.
- Other innovations in the fashion industry include fashion discovery apps and rewards systems. CURATE has built just this and added a blockchain element by providing shoppers with Bitcoin and other digital assets back for every purchase.”
- “In 2019, the company obtained 418 patents, a 31% increase over the prior year.
- Bank of America spends $10 billion annually on technology, $3 billion of which is on growth initiatives
Among the patents the bank obtained in 2019, notable areas included:
- 101 patents dedicated to programming technology
- 61 in the information security category
- 45 in online/mobile banking
- 40 in artificial intelligence and machine learning
- 15 patents in the realm of blockchain and distributed ledger technology”
Photo credit: Mike Mozart/ Flickr
“Here are the 7 biggest technology trends that will disrupt banking and financial services in 2020.
- Artificial Intelligence (AI)
- Big Data
- Robotic Process Automation (RPA)
- Cloud Computing
- Voice Interfaces
- Cyber Security and Resilience”
Flyzoo Hotel – the world’s first future hotel open
“Flyzoo Hotel, which is Chinese ecommerce and media giant Alibaba Group’s first future hotel, opened today in Qinchengli, a shopping center owned by Alibaba, in Hangzhou, Zhejiang Province.
As the first hotel with a full panorama and large-scale use of artificial intelligence (AI) in the world, Flyzoo Hotel provides customers service through its intelligent experience and facilities.”
Become an AI Company in 90 Days – Prolego.io
“Researchers are continually publishing effective AI models. Hardware is a commodity. But build the highest-quality proprietary dataset and you’ll crush the competition every time.”
Here’s the scoop:
Author is legitimate and knows his stuff (Stanford AI experience)
He has clearly worked with some large corporations based on some of his anecdotes (policy and cross functional alignment will be some of the toughest challenges)
The instructions are specific and practical (top of line system for under $5K and reasonable data set size…good rule of thumb is 50,000 labeled examples)
2019 AI eCommerce Spotlight Awards
Today, I’m proud to announce the 2nd annual “AI eCommerce Spotlight Award” winners. These awards are distributed to recognize those companies that have differentiated themselves from the competition over the prior 12 month period within the ai eCommerce industry.
This year we’re recognizing 4 companies with GOLD and SILVER awards.
To determine the winners, we developed a matrix of factors with individual weights. The scores were then tallied and vendors were stack-ranked by overall performance.
Follow the leaders: Machine learning and AI in the retail sector
“So where should retailers start? The initiative needs to come from the top, Choudhary said. ‘C-suite executives need to be front and centre when driving AI projects for their organisations. They need to have a vision and plan for enterprise-wide AI strategies before they begin to be implemented,’ he said.
Evanna Kearins, VP global field marketing at DataStax, agreed.
2.3 trillion dollars which is likely to grow by over 246% by 2021
“The ecommerce industry has seen tremendous growth in the last decade and it doesn’t look to slow down anytime soon.
2017 alone favored global retail e-commerce sales to the tune of 2.3 trillion dollars which is a trillion dollars extra to what it was in 2014. This figure is likely to grow by over 246% by 2021.
Blockchain, which is one of the most reformative technological inventions of the fourth industrial revolution has already disrupted several major sectors including the finance, health and gaming industries. It is further looking to have a major impact in ecommerce industry.”
“For all the talk and hype surrounding technologies like AI and blockchain, just a little more than one in 10 mid-size ($500m to $50b assets) financial institutions will invest in chatbots or machine learning this year according to a study from Cornerstone Advisors.
Cornerstone has surveyed financial institutions to find out which technologies they plan to add or replace in the coming year. Here are the top five for 2019:
1) Digital account opening.
2) Person-to-person (P2P) payments.
- Consumers moved a little more than $300 billion in funds to other people through their banks and credit unions in 2018, with Zelle accounting for about 40% of that.
3) Customer relationship management (CRM)
4) New account/teller systems
- The percentage of FIs planning to add or replace new account/teller systems doubled between 2018 and 2019.
5) Commercial loan origination systems (LOS).
- So when will technologies like AI and blockchain crack the top 5 hottest technologies? Never. We’re in a phase of technology development where AI is being assimilated into the systems and apps that banks already deploy. AI will become indistinguishable components of systems and tools.”