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3 ways Generative AI is transforming the retail industry

CIO

Generative artificial intelligence (GenAI) tools such as Azure OpenAI have been drawing attention in recent months, and there is widespread consensus that these technologies can significantly transform the retail industry. How can Generative AI speed innovation in retail? Caton : CarMax reviews millions of vehicles.

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Retail investors or guinea pigs?

TechCrunch

There is a paradox when it comes to retail investors: Many startup-related deals are out of their reach (in part for their own sake). And when we consider the period of hype surrounding their public debuts, it’s difficult to not wonder how many retail traders got burned. Want it in your inbox every Saturday? Sign up here.

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Y Combinator-backed Luca aims to optimize retail prices at enterprise scale

TechCrunch

Luca , a startup building price planning and prediction tools for retailers, today announced that it closed a $2.5 In ten months, we succeeded in plugging a massive hole in Uber’s profit and loss using pricing tech. ” Mann describes Luca as a “pricing co-pilot for enterprise retailers.” That got us thinking.”

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Amazon downsizes AWS in a fresh cost-cutting round

CIO

The layoffs will affect AWS’ sales, marketing, and brick-and-mortar technology development teams. Rethinking physical retail strategy On Tuesday, AWS also downsized its team responsible for developing technology for Amazon’s physical retail stores. Amazon Web Services, Technology Industry

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Alerzo raises $10.5M Series A to bring Nigeria’s informal retail sector online

TechCrunch

Today’s news is from Alerzo , a little-known B2B e-commerce retail startup based in Ibadan, Nigeria. Adewale Opaleye founded Alerzo in 2018 as a last-mile distribution platform that helps retailers stock inventory directly from manufacturers. In fact, it might be the second-best thing after fintech at the moment.

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Nvidia offers retail loss prevention software to accelerate accelerator chip sales

CIO

GPU manufacturer Nvidia is expanding its enterprise software offering with three new AI workflows for retailers it hopes will also drive sales of its hardware accelerators. The workflows are built on Nvidia’s existing AI technology platform. But Nvidia suggests that its loss prevention technology could eliminate 30% of shrinkage.

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How e-commerce companies can brave the new retail environment

TechCrunch

While these factors are largely out of retailers’ control, we’re seeing a few emerging companies that have adapted by entrenching with existing customers and building their organic brand. The new retail challenge. The new retail challenge. retail sales in Q4 of 2021, down from 13.6% of total U.S. in the previous year.

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