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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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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. Instead, it will make them available for enterprises to integrate themselves, or to buy as part of larger systems developed by startups or third-party systems integrators.

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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. ” According to Khlebinsky, Retail Rocket uses a mathematical model to segment first-time buyers of a company’s product. . Image Credits: Retail Rocket.

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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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ZirooPay raises $11.4M to scale its mobile POS solutions for retailers across Nigeria

TechCrunch

In Nigeria, POS terminals are used to process card payments at retail locations as well as for agency banking purposes, a branchless banking system where agents act like human ATMs. Every retail and agent interaction with customers is a data mine to the payment processor and merchants.

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Twitter exposes secrets, FTC clamps down on review hijackers and Android 14 arrives

TechCrunch

It’s Week in Review (WiR) , the (more or less) regular newsletter that recaps the top stories from the past few days written by the talented TC team. Hijacked reviews: The U.S. Twitter exposes secrets, FTC clamps down on review hijackers and Android 14 arrives by Kyle Wiggers originally published on TechCrunch

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Convictional grabs another round of funding to help retailers quickly onboard vendors

TechCrunch

Retailers have traditionally onboarded their drop-ship, marketplace and wholesale suppliers using electronic data interchange (EDI), which is a fancy way of saying information that is sent from one company to another electronically. This way, retailers can more easily discover and change out inventory.

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