Amazon wants to use artificial intelligence (AI) to reduce the distance between its goods and customers.
The e-commerce giant wants to avoid long-distance delivery by using artificial intelligence to predict regional warehouse stocks.
AI will scale up Amazon Automation
The new technology can analyze data patterns to speed up pickup times to same or next day delivery. The company already stores 74% of orders in regional warehouses. Bots help Amazon fulfill 75% of orders by performing repetitive tasks.
Earlier this year, Goldman Sachs predicted that automation could cost the labor market 300 million jobs. Amazon suggests that automation will enhance jobs that need high levels of human judgment.
However, artificial intelligence could soon make even specialized professions obsolete.
Google recently unveiled the latest version of its AI assistant Bard that is capable of writing computer programs, while its new large language model PaLM 2 matches doctors’ ability in medical examination.
The company can also translate video lectures in English audio-visually for a limited group of clients.
But the creative professions are also facing increasing pressure from generative AI tools.
The AI recently created a synthetic song performed by Drake and The Weekend, while other tools can create artistic mash-ups from different eras.
Music companies have also asked Spotify to prevent AI tools from scraping data to create songs like Drake and The Weekend’s latest hit.
Crypto shows no signs of suffering
However, companies also see an upside.
according to GartnerThe number of companies deploying AI increased 270% in the four years ending in 2022. E-commerce led the way, followed by financial technology and online media.
China’s Alibaba has used artificial intelligence to reduce delivery errors in its logistics department by 40%. In addition to reducing operational costs, AI helps Amazon earn 35% of its revenue from personalized recommendations. AI voice searches also enable quick purchases.
Decision makers expect the market for conversational AI tools such as ChatGPT to grow to $14 billion by 2025. Chatbots make up a large part of the adoption of AI in e-commerce.
However, the buzz of artificial intelligence has not come at the expense of e-commerce interest in cryptocurrency.
Amazon cloud computing business announce Recent partnership with Ava Labs to drive institutional adoption of cryptocurrency.
Recently leaked email Proposal Amazon may soon introduce non-fungible tokens (NFTs) in line with 2022 statement By CEO Andy Jassy. However, the connection To the NFT gallery in the email it appears to be broken.
Over 85% of merchants are in the US to survey Deloitte sees catering to cryptocurrency customers as a top priority despite the crypto winter. Ownership reached 420 million in 2023, roughly on the heels of the internet adoption trend.
A 2022 BitPay report indicates that 35% of technology-driven consumers prefer a merchant that offers crypto payments. About a quarter of this group said they would switch to a retailer that offers crypto.
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