News

Retail
Christmas Tree Costs Soar, Yet Consumers Still Pine for Authenticity 
December 02, 2023

As the festive season sleighs in and inflation plays Scrooge, one can’t help but wonder: Are folks still decorating their homes with real Christmas trees?  As per the Real Christmas Tree Board, findings from a survey covering 55 Christmas tree wholesalers indicate that nearly all of...

Artificial Intelligence
Report: OpenAI Says It Will Delay GPT App Store Launch to Early 2024
December 01, 2023

OpenAI has reportedly delayed the opening of its custom GPT store.  The store was announced in November and was to launch later that month, but it has now been delayed until early 2024, Reuters reported Friday (Dec. 1), citing an internal memo it had seen.  OpenAI did not...

Retail
Retailers Raise Annual Forecasts After Strong Black Friday Sales
December 01, 2023

Retailers are reportedly expressing optimism for the holiday season sales following stronger-than-expected figures during Black Friday and Cyber Monday.  The heavy discounts offered during these peak shopping days attracted budget-strained customers, leading to record-breaking online sales and surpassing estimates, Reuters reported Friday (Dec. 1).  This positive start...

Artificial Intelligence
Gen Z Interested in AI-Enabled Banking Experiences Despite Privacy Concerns
December 01, 2023

Despite differences across gender, generations and income levels, artificial intelligence-powered experiences are becoming popular with consumers, and an increasing number of individuals now use AI technologies in their everyday routines. “AI-Enabled Payments Enhance Customer Options,” a PYMNTS Intelligence and ACI Worldwide collaboration, drew on insights...

Biometrics
FortressPay Launches Enterprise-Ready Biometric Payment Platform
December 01, 2023

FortressPay launched an enterprise-ready biometric payment platform. With its new Payment Identity platform, FortressPay aims to provide a frictionless customer experience while eliminating payment fraud, the global FinTech company said in a Friday (Dec. 1) press release. “People use a selfie to unlock their phones...

Artificial Intelligence
American Express, Mastercard and Others Behind New Standards for Enterprise AI Data Purity
December 01, 2023

If software is the engine of the 21st-century business landscape, data is its oil. And the oil is only becoming more valuable — and important — as generative artificial intelligence bursts onto the scene. Generative AI technologies are trained using large quantities of data so...

Biometrics
Non-Retail Firms Launch Biometric Tools Amid Consumer Interest
December 01, 2023

Biometric authentication methods have expanded into multiple applications in recent years, from online payments to mobile devices to banking transactions or facial identification for security. Nearly half of online shoppers in the United States already use biometric authentication methods for purchasing online, and around 15%...

Investments
Syrup Raises $17.5 Million to Expand AI-Powered Inventory Forecasting Platform 
December 01, 2023

Syrup has raised $17.5 million in a Series A round to expand its artificial intelligence (AI)-powered platform that helps brand optimize their inventory for omnichannel commerce.  The firm will use the new funding to add to its engineering, product and sales teams and expand its platform,...

Artificial Intelligence
This Week in AI: ChatGPT’s Birthday, Amazon’s Ambitions, Payment Efficiencies 
December 01, 2023

Thursday (Nov. 30) was OpenAI’s ChatGPT’s first birthday.  And what a year it’s been for the generative artificial intelligence (AI) landscape more broadly.  We are only at the beginning of the age of AI — yet to even scratch the surface of AGI (artificial general...