What E-Commerce Business Owners Need to Know About Artificial Intelligence

#artificialintelligence

Artificial Intelligence is the buzzword of the year with immense anticipation and excitement attached to it, but also often a fear of the unknown. So much so, that tech behemoths Facebook, IBM, Google's parent company Alphabet, Amazon, and Microsoft recently announced a partnership to discuss AI best practices. While there are the science fiction-driven angles of AI, like robots, self-driving cars, Internet of Things, and augmented reality, there are also more practical applications that affect business owners every day, especially those working in the virtual customer service world of online retail. Gartner predicts that by 2020, 85% of interaction between customers and retailers will be through artificial intelligence customer service programs. Brands are rushing to build out their customer service approaches leveraging AI to create accurate product catalogs, fine-tuned search capabilities, and truly personalized online experiences.


What E-Commerce Business Owners Need to Know About Artificial Intelligence

#artificialintelligence

Artificial Intelligence is the buzzword of the year with immense anticipation and excitement attached to it, but also often a fear of the unknown. So much so, that tech behemoths Facebook, IBM, Google's parent company Alphabet, Amazon, and Microsoft recently announced a partnership to discuss AI best practices. While there are the science fiction-driven angles of AI, like robots, self-driving cars, Internet of Things, and augmented reality, there are also more practical applications that affect business owners every day, especially those working in the virtual customer service world of online retail. Gartner predicts that by 2020, 85% of interaction between customers and retailers will be through artificial intelligence customer service programs. Brands are rushing to build out their customer service approaches leveraging AI to create accurate product catalogs, fine-tuned search capabilities, and truly personalized online experiences.


Buyer beware: 'Tis the season for scams

Los Angeles Times

As the Black Friday shopping spree spilled over into Cyber Monday, the FBI warned consumers to watch out for "increasingly aggressive and creative scams" that will make your holidays considerably less merry and bright. If there's money being spent, it's a sure thing that scammers will be hunting for a piece of the action. But in a report titled'Tis the Season for Holiday Scams, the FBI said Monday that fraudsters have grown more clever in presenting deals that look sweet but in fact will result in your losing cash or sensitive data, such as a credit card or Social Security number. "If a deal looks too good to be true, it probably, is," the bureau said. The electronic-payments company ACI Worldwide said last week that global retailers can expect a 12% increase in incidents of online fraud this holiday season compared with a year ago.


Magecart Attacks Alive and Well as Recent Wave Hits High-End Retailers

#artificialintelligence

Magecart attacks have been making news since about 2016, when the loose confederation of online credit card skimmers began running rampant in stores using the Magento shopping cart system. The Magecart groups have since expanded their scope and graduated to some of the world's biggest companies, hitting British Airways and Ticketmaster among others in 2018. This confederacy of skimmers shows no signs of slowing down. Research conducted by Malwarebytes Labs shows a sharp increase in Magecart attacks over the summer, and last month the PCI Security Standards Council (PCI SSC) and the Retail & Hospitality ISAC (RH-ISAC) issued a joint statement advising online merchants of the threat. The term "Magecart" is comparable to something like "Anonymous" or "Antifa" in that it is not one large cohesive group, but rather a label and set of tactics used to describe independent smaller groups that don't necessarily associate with each other.


Thousands of customers may have had their credit card data stolen in a hack on 6,500 online stores

Daily Mail - Science & tech

Hackers may have absconded with tens of thousands of online shoppers' credit card information in an attack on cloud infrastructure company, Volusion. According to ZDNet, multiple cyber security firms have confirmed the hack on Volusion, a software company that claims to provide infrastructure for more than 30,000 merchants. Among the affected parties are the Sesame Street Live online store which sells various merchandise from the popular kids show and the official website for the late painting icon, Bob Ross. A list of the confirmed affected stories can be viewed here. ZDNet reports that hackers were able to steal the credit card information of online customers by inserting malicious code into Volusion's servers.