Amazon is the Standard Oil of the 21st century. Its business operations and global reach dwarf those of virtually every other company on the planet -- and exceed the GDP of more than a few countries -- illustrating the vital importance innovation has on the modern economy. In his latest book, The Exponential Age: How Accelerating Technology is Transforming Business, Politics and Society, author Azeem Azhar examines how the ever-increasing pace of technological progress is impacting, influencing -- and often rebuilding -- our social, political and economic mores from the ground up. Excerpted from The Exponential Age: How Accelerating Technology is Transforming Business, Politics and Society by Azeem Azhar. In 2020, Amazon turned twenty-six years old.
This week's top reads in banking, fintech, payments, cybersecurity, AI, IoT, risk management and much more In this weeks selection; Top Reads Analysts pin Google retail bank U-turn on fears of higher regulatory scrutiny, low profitability JPMorgan Chase joins UN's Net-Zero Banking Alliance Why Chatbots Fail in Banking We may visit you at home, British financial watchdog warns bank staff SocGen to Cut 3,700 Jobs as Part of Domestic Retail Merger Crypto Could be in Trouble after China Declares all Crypto Transactions Illegal Two Key Digital Payments Trends in the Post-COVID World Capgemini's World Payments Report 2021 Are NFTs a Money Laundering Gold Mine? From tech tool to business asset: How banks are using B2B APIs to fuel growth Will massive outage set back Facebook's payments plans? Analysts pin Google retail bank U-turn on fears of higher regulatory scrutiny, low profitability JPMorgan Chase joins UN's Net-Zero Banking Alliance Why Chatbots Fail in Banking We may visit you at home, British financial watchdog warns bank staff SocGen to Cut 3,700 Jobs as Part of Domestic Retail Merger Crypto Could be in Trouble after China Declares all Crypto Transactions Illegal Two Key Digital Payments Trends in the Post-COVID World Capgemini's World Payments Report 2021 Are NFTs a Money Laundering Gold Mine? From tech tool to business asset: How banks are using B2B APIs to fuel growth Will massive outage set back Facebook's payments plans? JPMorgan Chase joins UN's Net-Zero Banking Alliance Are NFTs a Money Laundering Gold Mine?
Artificial Intelligence (AI) is everywhere -- in our phones, in our offices, in our cars, and pretty much everything else one can imagine. So, it only makes sense this technology has made inroads into the world of e-commerce as well, which happens to be one of the most popular industries in the world at the moment. It is revolutionizing eCommerce for small and big businesses where it is being used by various retail companies to develop a better understanding of their customers. Despite the popularity of the sector, it is starting to feel the need for better and advanced tools that can help address some of the more complex challenges. You would agree AI-powered commerce enables customer-centric online searches, identifies prospective customers, answers customers' queries, simplifies sales techniques, establishes actual conversations with customers through chatbots, etc. Suffice it to say that AI is more than ready to do that and so much more.
When I open any website offering services or goods, I always check how well a recommender system works. Big business also adores recommender engines as much as I do, so I am in good company. "Recommender engines or recommenders, as they are sometimes called, are the most useful applications of Machine Learning Algorithms." – Harvard Business Review. And they help me to choose another plant to the disappointment of my husband ( "One more plant? We have a dozen of them already!").
Several day-to-day chores have gotten significantly simpler because of the extraordinary growth in the usage of smart devices, user-friendly mobile applications, and progressive data/information management solutions. For example, if you ever want to send money to anyone thousands of kilometers away, you may do it in a matter of minutes. However, as things have become easier to accomplish in the digital world, there has been a massive increase in incidents of digital fraud. As a result of the numerous examples of data theft and digital fraud discovered by cyber security, it is now more necessary than ever to implement countermeasures to prevent such incidents while improving fraud detection efficiency. AI and machine learning, according to technology experts, may be used to detect fraud and reduce scams in the healthcare, eCommerce, and finance industries.
Artificial Intelligence, also known as Artificial Intelligence, is well-known for streamlining processes safely. However, when it comes to digital payment solutions, AI goes beyond streamlining and providing security. AI brings automation to online payments and allows users to monitor them. It is fascinating to note seven amazing uses of AI within the payment industry. Although self-driving cars are not a new concept, have you ever considered that the technology behind self-driving cars could be used to fraudulently apply for loans or cards?
When we hear the word Artificial Intelligence (AI), our minds automatically create images of robots. Not all AI is in the form of robots, it can also be in the form of voice detectors, image processors, smart assistants, etc. As much as we claim to know what AI is, we don't have a full grasp of how our lives are steadily becoming dependent on it nowadays. From relying on Netflix to suggest your next movie to watch, to asking Siri to play your favorite song, and using Google Map to get to your location, you'll agree that AI makes living easier. Now let's take you through 5 Eye-opening Facts about AI to Help You Understand it Better… Sure you've found yourself in a situation where for example, you searched Google or an e-commerce website for the specification of a device, clothing, etc. with the intention of maybe buying it.
Evgeny Grigul is the co-founder and VP of Virto Commerce, a next-gen B2B-first e-commerce platform. Like any expert, people often casually ask me what the future holds for my industry, as though my fellow experts and I met at a conference and planned the next five years well in advance. Of course, I don't have a crystal ball, and neither does anyone else. It's nearly impossible to predict precisely how the future will play out with any degree of accuracy. However, I believe it's possible to speak to the broad trends that will help shape the landscape of the next five years.
Artificial intelligence has been enhancing the online shopping experience for some time: Put a new outfit in a shopping cart, and the store's website suggests the perfect accessories as well as another outfit you didn't know you needed. Start looking at a new flat-screen television and a reminder pops up that you also need HDMI cables and a TV mounting kit. Now AI is increasingly making its way to in-store settings. While robots and algorithms aren't going to take over the world (at least not anytime soon), AI can help human experts do their jobs more efficiently. Get the latest insights and innovations in retail at NRF 2022: Retail's Big Show this January. At Neiman Marcus Group, AI, analytics and machine learning play key roles in helping the company build long-term relationships with its customers.
Amazon's Alexa, Apple's Siri, Microsoft's Cortana, and Samsung's Bixby may be the flag bearers of voice assistants (VAs) but the technology itself is no longer limited to megacorporations. Instead, it is finding its way to numerous enterprise-level applications. Voice assistants typically found on mobile devices like Siri and Google Assistant are examples of Voice User Interfaces (VUIs). Although VUIs have existed as early as the 1950s, greater technological challenges meant that modes of communication like typing took precedence in most business implementations. A study showed that even expert typists were not faster than modern VUIs at taking down messages.