Artificial Intelligence

Artificial Intelligence In Retail Market Expected To Reach $57.8 Billion By 2030

Published

10 months ago

September 12, 2023

PALM BEACH, Fla., Sept. 12, 2023 /PRNewswire/ — FinancialNewsMedia.com News Commentary – Technological advancements in AI are increasingly disrupting various functions across industries, including retail. The emergence of smart technologies for various applications in these industries is increasingly creating opportunities for the integration of AI-powered voice recognition tools as a part of smart solutions to further improve end-user experience. In addition, the widespread adoption of smart gadgets and smart devices among consumers is increasingly driving the demand for various AI-powered voice and speech-enabled tools in the retail industry. Retail organizations are continuously reassessing consumer preferences and aligning categories and offers accordingly to improve customer engagement and product demand. This requires agile demand planning and a clear prioritization of focus resources, which contributes to the growing demand in the AI in retail market. Many leading retail players eyed this crisis as a new opportunity to revisit and restructure their existing strategies and develop advanced product portfolios… In addition, factors such as favorable government policies & initiatives, including financial packages, tax rebates & incentives, employment packages for employees, rent reduction for shops, and increasing investments in advanced technologies are further expected to contribute to the growth of the artificial intelligence in retail market. A report from Meticulous Research projected that the Artificial Intelligence in Retail Market to Reach $57.8 Billion by 2030, at a CAGR of 41% from 2023 to 2030. The report said: “The growth of the AI in retail market is driven by factors such as the growing awareness about AI and big data & analytics, the adoption of multichannel or omnichannel retailing strategies, and the need to enhance end-user experience and improve productivity. The increased adoption of AI-powered voice-enabled devices and the growing number of smartphones are expected to create growth opportunities for the players operating in this market.” Active Companies active today in markets include: VSBLTY Groupe Technologies Corp. (OTCQB: VSBGF) (CSE: VSBY), Amazon.com, Inc. (NASDAQ: AMZN), Oracle Corporation (NYSE: ORCL), Walmart Inc. (NYSE: WMT), The Kroger Co. (NYSE:KR).

Meticulous Research added: “Based on type, the online retail segment is expected to account for the largest share of the artificial intelligence in retail market in 2023. In the online retail sector, AI helps enhance customers’ purchase decisions, informs the availability of alternative or new products, optimizes buying processes, identifies new markets, and automates workflows. In addition, AI solutions enable retailers to overcome geographical limitations, gain new customers with search engine visibility, locate products quicker, and enable customers to compare products. These factors drive the growth of this segment.”
VSBLTY Groupe Technologies Corp. (OTCQB: VSBGF) (CSE: VSBY) BREAKING NEWS: VSBLTY SIGNS LOI TO 36 Month VSBLTY ANNOUNCES ALL SYSTEMS GO FOR SUCCESSFUL AI LAUNCH in BRAZIL – Financing, Technology, Deployment, Advertisers and Clients Aligned – VSBLTY Groupe Technologies Corp. (Frankfurt: 5VS) (“VSBLTY”), a leading software provider of AI-driven security and retail analytics technology, is pleased to announce the successful launch of its “Store as a Media” in Brazil. Many years of partnerships and experience have culminated to achieve this new joint venture. VSBY has been able to attract industry leader as partners whose vision aligns with ours, it’s the perfect storm.
The partnership’s initial installations have been executed perfectly, on time on budget and already delivering advertising impressions.
Comment: What is different in this market is the precise selection of an established media player in the out of home ecosystem that will allow us to avoid the growing pains of establishing store as a new media channel. We expect that our path to scale and revenue will be truncated because of this change.
The first installations of a planned 5000 have exceeded our expectations, this supply chain has no weak links thanks to our partners.
“Our dedication, experience and technology focused on the “Store is a Media” has given the Company the credibility to have some of the world’s largest companies in their industries to partner with us. To have one of the worlds’ best known consumer goods companies and one of the worlds advertising giants as partners a great achievement for our firm, especially when our visions align so well.” stated VSBLTY Co-founder & CEO Jay Hutton.”
The company and its partners are installing media screens in stores that will generate AI driven advertisements customized to the demographic of the consumer, such as age, gender, time of day and other data points. This technology can provide data that no other form of advertising can deliver. The Company’s technology using its AI based software can report for example that a 30-year-old female watched their advertisement for 4 seconds and it led her to purchasing the projected product. CONTINUED… Read the full Press Release for VSBLTY Groupe Technologies at: https://vsblty.net/news-events/
In other active tech companies in the markets this week:
Oracle Corporation (NYSE: ORCL) recently announced fiscal 2024 Q1 results. Total quarterly revenues were up 9% year-over-year in USD and up 8% in constant currency to $12.5 billion. Cloud services and license support revenues were up 13% in USD and up 12% in constant currency to $9.5 billion. Cloud license and on-premise license revenues were down 10% in USD and down 11% in constant currency to $0.8 billion.
Q1 GAAP operating income was $3.3 billion. Non-GAAP operating income was $5.1 billion, up 13% in USD and up 12% in constant currency. GAAP operating margin was 26%, and non-GAAP operating margin was 41%. GAAP net income was $2.4 billion. Non-GAAP net income was $3.4 billion, up 19% in USD and up 17% in constant currency. Q1 GAAP earnings per share was $0.86 while non-GAAP earnings per share was $1.19, up 16% in USD and up 14% in constant currency. Short-term deferred revenues were $11.1 billion. Q1 operating cash flow was $7.0 billion, up 9%, and Q1 free cash flow was $5.7 billion, up 21%.
Amazon.com, Inc. (NASDAQ: AMZN) and its Counterfeit Crimes Unit (CCU) recently announced the filing of two new lawsuits against Kamryn Russell, Ashley Hawat, and their co-conspirators who knowingly attempted to evade Amazon’s brand protection systems in an effort to promote, advertise, and facilitate the sale of counterfeit luxury fashion goods such as jewelry, handbags, and accessories.
Amazon works across the globe to fight counterfeiters, filing joint lawsuits with brands to eliminate the sale of counterfeits not only in Amazon’s store but across the supply chain. Through its partnership with brands of all sizes, Amazon’s CCU constantly uncovers new approaches counterfeiters take to try to deceive customers and evade the law. The CCU uses that intelligence to equip law enforcement to pursue bad actors. In 2022, the CCU sued or referred for investigation over 1,300 criminals in the U.S., UK, EU, and China.
Walmart Inc. (NYSE: WMT) recently announced that company leadership will participate in upcoming investor events, with several including live webcasts on Walmart’s investor relations website at stock.walmart.com.
September 19, 21: GroceryShop – Walmart Investor Relations will host onsite meetings with members of the investment community.
September 20: Consumer Conference – hosted by Wells Fargo. Walmart Investor Relations will participate in meetings.
September 27: Global Sustainability Forum – hosted by Goldman Sachs. Kathleen McLaughlin, executive vice president, chief sustainability officer, will participate in a fireside chat at 12:00pm CDT. This session will be webcast live through the “Events” link at stock.walmart.com. A transcript of the session will be available after the event and will be archived on the company’s website.
The Kroger Co. (NYSE:KR) and Albertsons Companies Inc. ACI recently entered into a deal with C&S Wholesale Grocers, LLC, to divest more than 400 stores and other assets in relation to the $24.6 billion proposed merger agreement. This divestiture deal marks an important step toward completing the planned merger.
In October 2022, Kroger and Albertsons formed an agreement to merge their businesses. The merger deal, which is likely to close in early 2024, will help the combined entity to firm its position in the competitive grocery space. The combined entity would benefit from a loyal customer base, digital investments, increased purchasing power and a broader product portfolio. The transaction is likely to boost Kroger’s strategy of Leading with Fresh, Accelerating with Digital, thus enabling the new organization to support its go-to-market strategy comprising Fresh, Our Brands, Personalization and Seamless.
DISCLAIMER: FN Media Group LLC (FNM), which owns and operates Financialnewsmedia.com and MarketNewsUpdates.com, is a third- party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with any company mentioned herein. FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNM is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNM was compensated twenty six hundred dollars for news coverage of current press release issued by VSBLTY Groupe Technologies Corp. by a non-affiliated third party. FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.
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Artificial Intelligence

Fractal Announces Merger of Eugenie.ai to Bolster AI-Powered Climate Solutions

Published

2 mins ago

June 26, 2024

CISION (PR Newswire)

$fractal-announces-merger-of-eugenie.ai-to-bolster-ai-powered-climate-solutions$

MUMBAI, India, June 26, 2024 /PRNewswire/ — Fractal (www.fractal.ai), a global provider of artificial intelligence and advanced analytics solutions to Fortune 500® companies, today announced the merger of Eugenie AI (Eugenie.ai), an AI company dedicated to providing AI-driven products for climate change and industrial sustainability.

Founded in 2021, Eugenie has established itself as one of the pioneering forces in AI-driven climate solutions. Their clientele includes some of the world’s largest industrial corporations across energy, metals & mining, and other hard-to-abate sectors. Eugenie’s achievements include being featured at the prestigious 2024 Google I/O, being an alum of the Google for Startups: Climate Change accelerator and winning multiple global accolades such as the NASSCOM Emerge 50, Tech30 recognition by YourStory, and the Vedanta Spark Corporate Innovation Challenge. Eugenie has been featured as a key provider by Gartner in its 2023 Market Guide for Energy Management and Optimization Systems & Market Guide for Commercial and Industrial Energy Management and Optimization Systems.
Srikanth Velamakanni, Co-founder, Group Chief Executive & Vice Chairman, Fractal, said, “We are excited to welcome Eugenie back into the Fractal family. Eugenie’s cutting-edge AI technologies and their commitment to combating climate change align perfectly with our vision to leverage AI for social good. Together, we aim to accelerate the development and deployment of innovative solutions that address some of the most pressing environmental challenges of our time. Eugenie’s expertise in serving major industrial clients complements our goal of creating significant value for client in Fortune 100 organizations.”
Dr. Soudip Roy Chowdhury, Founder and CEO, Eugenie AI, said, “Joining forces with Fractal marks a significant milestone for Eugenie. Our shared values and complementary expertise will enable us to scale our impact and continue our mission to drive sustainable industrial transformations. We look forward to working together to create a future where technology and nature coexist harmoniously. By integrating our AI-driven solutions with Fractal’s extensive capabilities, we can offer even greater value to our clients, helping them achieve their sustainability goals.”
The merger of Eugenie reinforces Fractal’s commitment to harnessing the power of artificial intelligence to address global challenges and underscores its dedication to sustainability and innovation. By integrating Eugenie’s expertise in climate-focused AI solutions, Fractal aims to expand its portfolio and deliver even greater value to its clients and communities worldwide.
Eugenie’s focus on providing AI solutions to some of the hardest-to-abate sectors aligns perfectly with Fractal’s vision of driving significant value for large enterprises. This strategic merger will enhance Fractal’s ability to offer comprehensive AI solutions that not only optimize business operations but also contribute to a more sustainable and resilient industrial ecosystem.
For more information, please visit www.fractal.ai and www.eugenie.ai.
About Fractal
Fractal is one of the most prominent providers of Artificial Intelligence to Fortune 500® companies. Fractal’s vision is to power every human decision in the enterprise, and bring AI, engineering, and design to help the world’s most admired companies.
Fractal’s businesses include Crux Intelligence (AI driven business intelligence), Eugenie.ai (AI for sustainability), Asper.ai (AI for revenue growth management), Senseforth.ai (conversational AI for customer service) & Flyfish (generative AI for Sales). Fractal incubated Qure.ai, a leading player in healthcare AI for detecting Tuberculosis and Lung cancer.
Fractal currently has 4500+ employees across 17 global locations, including the United States, UK, Ukraine, India, Singapore, Middle East and Australia. Fractal has been recognized as ‘Great Workplace’ and ‘India’s Best Workplaces for Women’ in the top 100 (large) category by The Great Place to Work® Institute; featured as a leader in Data Engineering services 2024 & Data Science Services 2024 by Information Services Group, Leader in AI and Analytics Services Specialists Peak Matrix Assessment 2021 by Everest Group, Leader in Customer Analytics Service Providers Wave™ 2023 by Forrester Research, Inc.
About Eugenie AI:
Eugenie is a forward-thinking AI company, headquartered in NY, USA dedicated to creating solutions that address climate change and promote industrial sustainability. Leveraging advanced AI technologies, Eugenie empowers organizations to achieve their sustainability goals and contribute to a healthier planet.

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Artificial Intelligence

ADOLFO DOMÍNGUEZ PRESENTS HIS NEW FASHION AND FRAGRANCE COLLECTION AT A WORLD FASHION SHOW

Published

2 mins ago

June 26, 2024

CISION (PR Newswire)

adolfo-dominguez-presents-his-new-fashion-and-fragrance-collection-at-a-world-fashion-show

The brand intertwines fashion and perfume to create an immersive experience in the olfactory and creative universe
The fashion show, which will take place in Chile, will be broadcast online in 29 countries. It can be followed live on the brand’s website and social media profiles
MADRID, June 26, 2024 /PRNewswire/ — Adolfo Domínguez keeps moving forward in its commitment to bring fashion closer to society. The brand will showcase Ikigai, its autumn-winter 2024 collection, together with a selection of new perfumes in a global fashion show.

The event, which will mix fashion and fragrances, will be streamed live on 27 June at 6 p.m. (Portuguese time) on the brand’s website, accessible from 29 countries around the world, as well as through Mega, the main television channel in Chile, and Movistar+, in Spain. The event will also be broadcast on the company’s profiles on social media.
Adolfo Dominguez will showcase its fashion and perfume collections from the La Moneda cultural centre in Santiago de Chile, where it will create an immersive experience with artistic performances and music developed exclusively for the occasion. Attendees will have the opportunity to experience first-hand the essence and innovation that define Adolfo Dominguez, consolidating its presence and relevance in the Latin American market.
“Clothes matter. It is our second skin. Perfume is the trace we leave as we walk by. With each new collection, we explore our creativity and out contribution to society as a brand- why should we limit it to a privileged few in a room?” states Patricia Alonso, Corporate Director of Marketing and Communication at Adolfo Domínguez.
Ikigai, a Japanese concept that invites each person to go in search of their vital purpose, is the driving force behind Adolfo Domínguez’s autumn-winter 2024 collection: a selection of garments designed to liberate oneself. The result is a collection designed to be lived, with garments that are born to make people understand that beauty and happiness reside in the little things.
The fashion show will be streamed on www.adolfodominguez.com and on the brand’s profiles on social media (Youtube, Instagram and Facebook). In Latin America, the fashion show can also be seen on Mega, one of the main Chilean television channels.
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Artificial Intelligence

Darwin CX Broadens Global Reach via Strategic Partnership with dsb

Published

2 mins ago

June 26, 2024

CISION (PR Newswire)

darwin-cx-broadens-global-reach-via-strategic-partnership-with-dsb

TORONTO, NECKARSULM, Germany and NORTHAMPTON, UK, June 26, 2024 /PRNewswire/ — Darwin CX and dsb deepen their alliance as Darwin CX becomes a shareholder of dsb. The Canadian company’s investment in dsb expands Darwin CX into the UK and European market and dsb becomes part of the pioneering Darwin CX family. The strategic partnership marks a significant milestone for Darwin CX and dsb, both leading providers of SaaS solutions and services for publishers.

The most remarkable aspect of this union is the parallel trajectories of these formidable companies prior to the partnership. Darwin CX and dsb’s fly ecosystem both launched in 2018 with the common goal of modernizing the publishing industry, which had become heavily reliant on outdated practices and legacy systems. Each company was on an independent mission to create an ecosystem of tools and solutions that would allow publishers to thrive in a fast-paced, data-driven, digital-first marketplace.
Best practices from North America meet European recipes for success
“While Darwin CX developed a platform for the needs of a North American publishing audience, the dsb fly ecosystem offers its European customers a variety of tools to increase acquisition, maximize customer lifetime value and reduce costs and effort,” explains Liam Lynch, CEO of Darwin CX.
Broader range of resources and features
Darwin CX and dsb are process experts in the publishing environment. “We know the industry’s workflows inside out and have the same vision. Now, as subscription professionals, we are joining forces and offering our customers scalable solutions that enable them to tap into new revenue streams in a dynamic market,” emphasizes Olaf Bendt, CEO of the dsb Group. “Our customers benefit from an even broader range of resources and features.”
Next generation sales and marketing solutions
Publishers are battling dwindling attention spans and declining engagement. dsb and Darwin CX offer the publishing industry new, powerful tools for even more accurate content offers, prices and subscription conditions. All of this is based on data-driven, AI-supported personalization, which offers publishers new insights into their customers’ engagement and launches targeted measures to increase loyalty.
Prioritizing business continuity
“To meet the growing needs of our customers, dsb will expand their fly back-end infrastructure while integrating some of Darwin CX’s key marketing and data management tools. Of course, business continuity will be maintained for both our European and North American clients. We will offer our clients the best of both worlds without disrupting their day-to-day business,” emphasizes Alex Münch, COO at dsb Group.
Solutions for digital and printed content
Darwin CX and dsb are united by a focus on maximizing recurring revenue, seamless integration of online and offline solutions, and a fundamental belief in customer centricity. “The DNA of both companies is the publishing industry. That’s why, together with dsb, we are focusing on customized solutions for printed and digital Content”, stresses Michael Smith, Darwin CX Co-Founder and Chief Technology Officer.
About Darwin CX
Darwin CX is a transformative SaaS and services platform at the leading edge of the subscription and membership economies. Founded in Toronto, Canada, Darwin CX assists brands accelerate acquisition and retention—and increase loyalty—through innovative and customized check-out pages, targeted audience offerings, real-time A/B testing and best-in-class analytics, paywall and customer data platform (CDP). The Darwin CX platform enables clients to have complete freedom and control over customer data in order to tailor the best possible customer experiences. Over 140 well-known publishers and more than 300 brands in the USA, Canada and Australia rely on Darwin CX for their data and subscription management needs. Led by CEO, Liam Lynch, CTO, Michael Smith, COO, Cat Kiernan and President, Cary Zel, Darwin CX is backed by a group of growth equity investors with a common theme of disrupting industries and driving digital innovation including First Ascent Ventures, New Era Capital Partners and Felicitas Global Partners.
About dsb
With dsb fly, the dsb group develops and operates Europe’s leading subscription ecosystem for the publishing industry. Key players in the media industry have been relying on dsb’s holistic and customer-centric monetization solutions for over 50 years. Whether lifestyle products, seminars, events, digital or print titles – the dsb fly ecosystem offers media companies a customized 360-degree customer view of print and digital consumption. This all-round view is the basis for highly individualized worlds of experience and high customer loyalty. dsb fly manages customer relationships along the entire customer life cycle and maximizes subscription retention and sales with accurate subscription offers and highly individualized worlds of experience.
TAGGED WITH: Darwin CX, Liam Lynch, Michael Smith, Cary Zel, dsb, dsb.net, Olaf Bendt, Alex Münch
To find out if Darwin CX and dsb are right for your international business, contact [email protected]
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