With Amazon Go and other retailers seeking to change the way consumers pay for groceries, mobile technology companies are eyeing value-add services, such as loyalty programs for self-checkout. And, in the subscription business, merchants are turning to reviews or ratings to drive conversions. At the same time, banks are turning to artificial intelligence (AI) technology to gain an edge over their competition.
Data:
1.4 billion: The total times that consumers logged into mobile bank accounts in the first quarter of 2018.
$57 billion: The amount that experts predict banks will invest in AI over the next three years.
$1 trillion: The amount financial institutions (FIs) could collectively save by 2030 with AI tech.
38.5 percent: The percentage of grocery shoppers who would buy more items if given coupons.
36 percent: The percentage of merchants that offered reviews or ratings as a subscription feature.
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