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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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How Digital Technologies Could Boost Tiny Retailers in Developing Countries

Harvard Business Review

Micro-retailers are vitally important to the economies of developing countries and to consumer packaged goods companies. The adoption of digital technologies could help change that. But their full potential is not being realized. But for that to happen, obstacles must be overcome. Three strategies can address them.

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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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Butlr Technologies, developing anonymous people sensors, inks $7.9M seed round

TechCrunch

million seed round boosts Butlr Technologies ’ ability to apply its real-time people-sensing technology beyond commercial real estate and retail uses to monitor falls and other movements for active seniors who are aging in place. We can bring dignity back to the technology world, while also understanding users’ needs.

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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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Marketing automation startup Retail Rocket nabs $24M for expansion

TechCrunch

Retail Rocket , a retention management platform for brands, today announced that it raised $24 million in a Series A round led by Cyprus-based private equity fund Flintera. “The complexity of digital marketing tools is booming too — just several years ago we couldn’t imagine the technologies we use today.”

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Nigerian retail automation platform Bumpa raises $4M, led by Base10 Partners

TechCrunch

Millions of small and medium businesses still operate inefficiently due to dependency on manual processes, which limits their capacity to grow and scale; this is despite contributing to about 48% of Nigeria’s GDP in the last five years, But the tide is turning. We’re not trying to solve things in fintech that have already been solved.

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