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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. The workflows are built on Nvidia’s existing AI technology platform.

Retail 189
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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.”

Retail 246
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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.

Retail 227
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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. The system tracks items shoppers take and charges them automatically.

AWS 278
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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.

Retail 199
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Dutchie launches new cannabis point of sale platform with its own dual-screen register

TechCrunch

The new point of sale system serves the budtender and customer alike. “It’s intuitive and simple enough for SMBs and mid-market retailers, but can also flex up to the enterprise-level dispensaries and MSOs.” ” Dutchie started working on this platform in 2021, and Lipson says it began with serious due diligence.