Shopify is calling in reinforcements as eCommerce solution providers aim to equip brands and retailers to hold their own against Amazon.Cognizant, which provides digital solutions, technology consulting and IT services to various industries, is partnering with Shopify and Google to help brands and retailers upgrade their online shops, according to a news release. The collaboration combines Shopify’s online selling platform with Google Cloud’s system and the expertise of Cognizant’s retail technology special ...

Amazon is scaling back its artificial intelligence (AI) system that lets customers leave stores without having to provide payment, and experts say there are lessons to be drawn from this decision.The retail giant’s recent move to press pause its Just Walk Out (JWO) technology — a system designed to automate the shopping experience by eliminating the need for traditional checkouts — has ignited a dialogue among experts regarding the current state and future potential of AI in retail. The move highlights the ...

J.P. Morgan Chase’s board said Monday (April 8) that planning for an orderly CEO transition in the medium term is one of its top priorities.“The board is focused on enabling an orderly CEO transition to take place in the medium-term,” it said in a proxy statement released Monday. “As part of succession planning, the board continues to oversee management’s development of several operating committee members who are well-known to shareholders as strong potential candidates to succeed Mr. Dimon.”The statement c ...

Bank of America ’s virtual financial assistant, Erica , is now engaging with clients 2 million times per day.“Erica acts as both a personal concierge and mission control for our clients,” Nikki Katz , head of digital at Bank of America, said in the release. “Erica meets clients where they are and when they need us and has become a true guide by their side.”While it took four years for Erica to reach 1 billion interactions , it took only 18 months to add another 1 billion, according to the release.Clients’ u ...

The company has cut prices by an average of 23% for around 500 cloud product specifications for customers in 13 countries, including Japan, Indonesia, the United Arab Emirates and Germany, the report said.Bloomberg notes that Alibaba CEO Eddie Wu has been leading an effort to overhaul and revamp the company’s main business, which includes an eCommerce unit. Last fall, Alibaba set aside plans to take its cloud business public.“Given the uncertainties in the current environment, following evaluation, we have ...

“[W]e are completely convinced the consequences will be extraordinary and possibly as transformational as some of the major technological inventions of the past several hundred years,” Dimon wrote. “Think the printing press, the steam engine, electricity, computing and the internet, among others.”The bank has used predictive AI and machine learning for years in areas such as marketing, fraud and risk, the letter said. It is exploring the use of generative AI for things like software engineering, customer se ...

“I’m deeply aware of the extraordinary talent pool and AI ecosystem in the U.K., and I’m excited to make this commitment to the U.K. on behalf of Microsoft AI,” Suleyman said in the post.“I know — through my close work with thought leaders in the U.K. government, business community and academia — that the country is committed to advancing AI responsibly and with a safety-first commitment to drive investment, innovation and economic growth,” Suleyman added. “Our decision to open this hub in the U.K. reflects ...

Meta’s Reality Labs division is now 10 years old . And in the past five years alone, since 2019, the division — which is responsible for Meta’s metaverse, mixed reality (MR), augmented reality (AR), virtual reality (VR), and artificial intelligence (AI) initiatives — has lost the Big Tech giant nearly $50 billion.Meta has repeatedly mentioned during its financial earnings calls that it anticipates operating losses for the Reality Labs to “increase meaningfully year over year,” attributing the multi-billion- ...

Tesla CEO Elon Musk says the company will debut a robotaxi this summer.That report, citing three sources familiar with the matter and company messages viewed by Reuters, noted that this move marks “ an abandonment” of what Musk has often said was Tesla’s prime goal: offering a widely available electric car.His latest announcement hours after a report by Reuters that Tesla was jettisoning its plans to produce lower-cost cars and was instead focusing on its robotaxi project.The multibillionaire had predicted ...

Now, Apple says music apps can link to developer websites and inform users of other ways to purchase subscriptions. The announcement came after the company was hit with a record $1.9 billion fine from European regulators who accused Apple of “abusive behavior.”However, the Bloomberg report noted that Apple still plans to charge a commission of as much as 27% on app sales made on a developers’ webpage, once a user has clicked on an external link from the app and makes a purchase within seven days.PYMNTS has ...