Amazon is rolling out a new store format under the Whole Foods Market banner — a move that comes as the eCommerce giant looks to increase its share of grocery by growing its brick-and-mortar presence.The specialty grocer recently announced its Whole Foods Market Daily Shop, a smaller store geared toward meeting the demands of shoppers in dense, urban areas.The format aims to offer a more compact, efficient alternative tailored to the unique demands of urban areas. These “quick-shop” stores, which will be 7, ...

The head of Australia’s Commonwealth Bank says Apple’s in-country payments operations need greater oversight.“They should be subjected to a lot more scrutiny in Australia,” said Matt Comyn, whose comments at a conference in Sydney Monday (March 11) were reported by Bloomberg News.The Bloomberg report notes that this is an ongoing crusade for Comyn, who has advocated for greater competition and once told Australia’s parliament that consumers should be able to choose which features they prefer from digital wa ...

American healthcare providers may see their credit hurt following the recent cyberattack on UnitedHealth.That’s according to ratings agency Moody’s, whose projections were cited in a Sunday (March 10) report by Seeking Alpha.Late last month, an attack by the hacker group Blackcat/ALPHV on UnitedHealth unit Change Healthcare’s insurance billing service caused a nationwide disruption to the healthcare system.“The ultimate credit impact on providers will largely depend on the effect of payment delays on cash f ...

Meta’s development of a new AI model, designed to enhance video and user Feed recommendations, marks what could be a significant shift in the online commerce landscape.  The new AI model could benefit advertisers by directing viewers to more relevant results, experts say. Meta’s progress unfolds amid a widespread industry effort to improve online search outcomes through the application of AI.“Advertisers still have to be very specific about how their ads are recommended,” Ben Steele, an AI content developer ...

Amid a surge that echoes the rapid advancements and growing fascination with artificial intelligence, Nvidia is reportedly on the verge of overtaking Apple as the world’s second-most valuable company.At the core of Nvidia’s rise is its dominant position in the high-end AI chip market, in which it commands an 80% share, and a ravenous market demand for AI capabilities, Reuters reported Friday (March 8).This dominance has translated into a valuation leap. The company’s worth ballooned from $1 trillion to over ...

As augmented reality and virtual reality expand the possibilities for eCommerce, Walmart and Amazon are stepping up their digital try-on capabilities to drive conversion.Walmart shared via emailed announcement Wednesday (March 6) that it is expanding its existing Beauty Virtual Try-On capabilities through its app to include hair color options. The capability spans close to 500 products in the category so far. The retailer’s other virtual try-on categories include cosmetics and apparel. In late January, the ...

As retailers compete for consumers’ omnichannel loyalty, Costco is driving digital growth with a somewhat unconventional approach — selling precious metals.The membership warehouse club chain shared in its second quarter fiscal 2024 financial results Thursday (March 7) that digital sales were up 18.4% in the quarter, and much of that growth comes from its sales of precious metals.“eComm showed strength in several areas led by sales of gold and very recently silver as well,” Costco CFO Richard Galanti told a ...

Core Insights - Accenture is investing $1 billion in an AI-driven learning platform called LearnVantage to enhance tech education and reskill employees in technology, data, and AI over the next three years [1][3] - The acquisition of EdTech company Udacity will strengthen Accenture's learning capabilities and address the growing demand for tech skills, particularly in generative AI [1][3] - The rapid rise of generative AI is increasing the need for training and upskilling employees, with Accenture aiming to double its data and AI experts to 80,000 and train 250,000 tech experts by the end of fiscal 2024 [5] Company Initiatives - LearnVantage utilizes an AI recommendation engine to curate personalized learning paths and content from both Accenture and third-party sources [3] - Accenture currently spends over $1 billion annually on training its workforce of more than 700,000 employees, providing around 40 million hours of learning [5] - The company has already trained over 600,000 employees in the basics of AI, demonstrating its commitment to employee development in this area [5] Industry Trends - AI is transforming educational methods by enabling personalized teaching and enhancing the efficiency of content creation, allowing educators to focus more on engagement [4][6] - The use of AI in education is fostering peer learning and knowledge sharing among employees, which can lead to deeper connections and collaboration [4] - A high school in India has implemented an AI teacher that provides personalized education, showcasing the potential of AI to cater to individual learning needs [7][8]

Capital One is reportedly acquiring Discover Financial.Bloomberg reported Monday (Feb. 19) that Capital One is considering the acquisition, and The Wall Street Journal (WSJ) reported later Monday that the bank is buying Discover and the deal could be announced Tuesday (Feb. 20). Both reports cited unnamed sources.Neither Capital One nor Discover immediately replied to PYMNTS’ request for comment.The deal would bring together two of the largest credit card companies in the United States, according to the WSJ ...

Nike is laying off thousands of employees, as consumers’ ongoing financial pressures make it harder for them to justify nonessential purchases, such as adding more sneakers to their collections. The footwear company announced its decision to reduce its workforce by approximately 2%, equating to over 1,500 jobs, in a move aimed that comes amid the company’s broader restructuring plan to cut costs in the face of weakening demand for its shoes, CNBC reported Friday (Feb. 16).“This is how we will reignite our g ...