“It’s Cyber Monday and Amazon has one deal for its customers that’s a little unexpected. The company just announced that it has made available, for free, the same machine learning courses that it uses to train its own engineers.
It’s a lot of information to digest — from a programming standpoint. According to a newly released statement by Matt Wood, an eight-year veteran ofAmazonand a general manager of deep learning and AI at the company, there are more than 45 hours across 30 different courses that developers, data scientists, data platform engineers and business professionals can take gratis.”
According to a 2016 report, the average yearly financial expense attributed to fraud for retailers was 7.6 percent of annual revenue across all channels, including online and offline sales. And that is on a business-as-usual day. On peak-retail days, clients operating on Amazon have reportedly seen an increase of 150 percent in fraud attempts.
But the online retail anti-fraud business is about to change, and that change is going to affect consumers and retailers as well. This is due to new EU regulation called PSD2. PSD2, which comes into effect in mid-2019, is mainly about opening bank APIs to 3rd parties. But it also includes provisions applying to online sales.
The intention of this directive is good at heart but unnecessarily provides friction to the more than 99 percent of users out there that are good, according to Lee: “We are essentially making buyers conform to a set of rules because the system is being exploited by a select few bad apples.
White said this is going to have a tremendous impact on the market, specifically in the e-commerce space: “Conversion rates are already low in this space, and any added obstacles or friction could correlate into an increase in cart abandonments.
This can be a difficult task because if it was simple we wouldn’t need the predictive power of machine learning in the first place.
“‘The more the user gets to use the app, the more it gets to know them using machine learning and AI [artificial intelligence],‘ SIX Travel Founder and CEO Khalid Meniri told PYMNTS.comin an interview.
In addition, the company uses Core ML to translate the images that users interact with and extracts tags from those images. If a customer is looking at an image of a mountain with snow, for instance, the app might discern that the traveler is looking at ski properties. Then, if a user looks at a few images of otherhotels, the app can predict that the traveler is looking for a winter getaway. The idea is to use all of these implicit and explicit actions, along with the image tags, to recommend hotels to travelers.”