‘With AI, ML, fashion shifts from ecommerce to ‘a-commerce”: Abdullah Abo Milhim

  • “Previously, technology was one of the aspects that could change the business model; now, technology drives the entire business model.
  • Since 2018, we have seen a shift from e-commerce to a-commerce—automated or augmented commerce—which means consumers can use technologies to tell the business about the kind of product they want.”

http://www.forbesindia.com/article/special/039with-ai-ml-fashion-shifts-from-ecommerce-to-039acommerce039039-abdullah-abo-milhim/57365/1


Abdullah Abo Milhim

http://linkedin.com/in/abdullahabomilhim

As Western Massachusetts banks merge and add technology, customers still demand face-to-face service

  • “’People still need to see you,’ said John F. Heaps Jr., president and CEO of Florence Bank, who will retire in May after 25 years of leading his bank. ‘I’ve used to term ‘bricks equal clicks.’
  • Maybe soon you can get advice not from a machine, but through a machine. Holyoke-based PeoplesBank is one of the banks installing higher-tech teller machines that connect users via video with staffers working in a remote location.”

https://www.google.com/amp/s/www.masslive.com/business/2020/02/as-western-massachusetts-banks-merge-and-add-technology-customers-still-demand-face-to-face-service.html%3foutputType=amp

As retail evolves, 5G and edge computing keep you in the express lane

    “According to research published by McKinsey ahead of the 2019 holiday season, 62% of shoppers planned to make their purchases online and in-store.
    Flashy new online and AR/VR shopping schemes may grab headlines. But by 2023, ecommerce is expected to account for just 21% of total retail sales, and a mere 5% of grocery sales. Although we’re all eagerly anticipating same-day drone-based delivery services, it’s clear that the experience of purchasing our favorite goods in-person isn’t going away.”

https://www.google.com/amp/s/venturebeat.com/2020/01/31/as-retail-evolves-5g-and-edge-computing-keep-you-in-the-express-lane/amp/

Image Credit: Getty Images

What Retail AI Looks Like in Western Europe – eMarketer

  • “According to July 2019 data from P&S Intelligence, the global market for retail-related AI is expected to be worth nearly $4.34 billion by 2024, posting a compound annual growth rate (CAGR) of 35.4% between now and then.
  • Two-thirds of retailers in France considered the use of AI indispensable for ecommerce, and a further 18.5% said it was very useful, per Octopeek.
  • Farfetch…has partnered with visual AI startup Syte on a “See it, Snap it, Shop it” feature. It allows customers to upload a photo or online image; the app will then display the item, or something very similar, on one or more retail sites.”

https://www.emarketer.com/content/what-retail-ai-looks-like-in-western-europe

Robots Take Retail

    • “Walmart is building its robot army as well, and according to this ABI Research release, the company deployed 350 systems for inventory management across its stores in 2019 alone. That’s an average of roughly one robot for each store.
    • By 2025, more than 150,000 mobile robots will be deployed in brick-and-mortar retail establishments, according to an estimation by ABI Research.
    • If installed in all of Amazon’s 55 US fulfillment centers, they could replace more than 1,300 employees
    • And the study found that 64 percent of employees surveyed said they trust a robot more than their manager, with half turning to a robot instead of a supervisor for advice”

    https://www.google.com/amp/s/www.forbes.com/sites/gregpetro/2020/01/10/robots-take-retail/amp/