AI’s impact on retail: examples of Walmart and Amazon
Artificial Intelligence or AI is expected to be in major demand by retail consumers due to its ability to make interactions in retail as flawless and seamless as possible. Many of us do realize the potential of AI and all that it is capable of, along with the support of Machine Learning or ML, but don’t realize that the implementation of AI in certain segments has already begun.
AI in Retail
The future for AI and the complicated computer processes involved behind it is really bright in the field of retail. AI currently has numerous data sets working along with computer visualization methods to ensure that the users get the most seamless experience when it comes to AI in the workplace. There are some interesting facts that pertain to the use of AI in retail. Here we have some of them to build the insight into what you can expect during the feature;
- It is expected that customers will manage 85% of their relationship with the enterprise without interacting with a human.
- According to a report by Business Insider it is said that customers who interact in online opinions and reviews with retailers are 97 percent more likely to convert along with the retailer during this phase of change.
With such promising figures on the card, one cannot help but notice the wave of change that has already started in the field of retail. With work already in progress, major retailers such as Amazon and Walmart have made advances that are expected to dictate this transition to AI in retail. We will be looking at these advancements, and will see how they can work out in the future.
Walmart’s Shelf Scanning Robots
You might have heard of shelf-scanning robots being tested by retailers, but we’re just about to witness one of the most interesting advances in the deployment of these robots. Walmart, which is one of the biggest physical retail chains across the world, is planning to extend the tests for its shelf-scanning robots across 50 additional stores, including some from its native land of Arkansas.
The machines, which have been deemed to be the future of shelf scanning, will roam around the aisles to check all factors including pricing, misplaced items, and stock levels, to assess the level of stocks within the store. This would not only save human staff all the hassle of checking these trivial details by themselves, but would also mean that they can focus on other more important details. The machines will require technicians to be present on site to handle the situation in case of a technological impairment, but the robots are currently fully autonomous to handle their tasks themselves. These robots will be using the concepts of 3D imaging to roam around aisles, dodge obstacles, and to make notes about the blockages in their pathway.
Amazon Go
Amazon Go is the latest wave of technology in retail that is expected to lead the way to the future of AI in retail. The basic concept behind Amazon Go is that it is a new kind of store that flourishes on the concept of no checkout requirements. Consumers who walk into a store can take whatever they want without having to go through the hassle of lines and waiting for checkout.
The checkout free shopping experience in Amazon Go is only made possible through the use of the same technology that is currently in place behind computer vision, sensor fusion, and self-driving cars. The technology automatically detects all that is being taken and keeps track of them in a virtual cart. Shortly after the consumer leaves, they will be sent a receipt and charged through their Amazon account.
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Improving cryptocurrency security: Bitcoin Gold case study
After the second Bitcoin fork creating a new cryptocurrency, Bitcoin Gold (BTG), it became the victim of aDistributed Denial of Service (DDoS) attack. The DDoS attack of Bitcoin Gold caused it to go offline at a very critical moment in the new cryptocurrencies infancy.
Since that first attack,Bitcoin Gold has been the subject of further cyber attacks. This has had an impact on the digital currency’s value. It has caused less confidence in user investment after previous BTG holders lost millions of dollars.
Some think those who believe the hard fork was disruptive to the crypto-community masterminded the cyber attacks. No one will really ever know, but Bitcoin Gold was hit hard, and repetitively.
The focus should now be shifted to how cryptocurrency attacks can be prevented in the future, or at the least, not become a regular occurrence.
About Bitcoin Gold
Bitcoin Gold was created after the second Bitcoin hard fork. Like Bitcoin Cash, Bitcoin Gold was touted as the new and improved Bitcoin. The hard fork allowed Bitcoin holders to get a one-for-one coin of Bitcoin Gold. This allowed Bitcoin holders to furtherdiversify cryptocurrency portfolios.
The big difference between Bitcoin Gold and its counterparts is that it has mining allowances the others don’t. For instance, companies have monopolized Bitcoin mining, usingapplication-specific integrated circuits (ASICs). This goes against the decentralized nature of cryptocurrency.
Bitcoin Gold aims to decentralize mining once again with an algorithm ASICs can’t penetrate. It is a return to the early Bitcoin days when mining could net cryptocurrency holders extra money.
Unfortunately, the decentralization mission Bitcoin Gold was created for became the subject of much scrutiny. People in the crypto-community were unraveled over the Bitcoin Gold creators’ private mining period that reduced the digital currency’s volume. Thus the speculation that the opposition to Bitcoin Gold facilitated the cyber attacks.
Relentless Cyber Attacks on Bitcoin Gold
There was no shortage of cyber attacks after the Bitcoin hard fork that created Bitcoin Gold. Bitcoin Gold was created in October of 2017 and immediately suffered a DDoS cyber attack. The attack overloaded the server that caused the network to go offline.
Then in November, nearly a month later, Bitcoin Gold’s wallet,mybtgwallet, was found fraudulent. As soon as the scam was identified the wallet was removed, but an estimated $3.3 million was lost.
Yet again, a week after the fraudulent wallet scam, Bitcoin Gold needed to issue a warning that detailedsuspicious files in the network’s Windows wallet installer. Due to a potential for more user money to be lost, those who had downloaded the files were instructed to delete them immediately and remove cryptocurrency access from users’ computers.
Bitcoin Gold is not the only victim of cyber attacks and malicious attempts to steal funds. From Initial Coin Offering ICO scams to hacked exchanges, cryptocurrency has definite pitfalls in the security sector.
Is Poor Security to Blame?
The cyber attacks have led to some serious security concerns for Bitcoin Gold and the entire crypto-community. The poor security of Bitcoin Gold made many question the digital currency’s ability to rise as a cryptocurrency contender.
Even popular exchanges like Coinbase decided to steer clear of the latest Bitcoin offering. The largest exchange in the crypto-community announced that theywouldn’t support Bitcoin Gold on their platform due to developers not making the network’s code available publicly, stating, “This is a major security risk.”
The Bitcoin Gold cyber attacks are no rarity. Various cryptocurrencies and cryptocurrency exchanges have fallen prey to hacks resulting in millions of dollars lost. For instance,CoinDash lost an estimated $7 million after web applications were found vulnerable.
ICOs are a new way to net funding via cryptocurrency. However, these have been vulnerable to scams. Just recentlyscammers posing as Seele ICO admins stole over $1.8 million. This has caused even more security ripples over the cryptocurrency network.
Improving Cryptocurrency Security
The Bitcoin Gold cyber attacks and the scams and hacks of other cryptocurrency platforms is definitely a call to action for improving cryptocurrency security. A few security-minded measures include:
- Server infrastructure and applications are at risk. It is essential for the entire crypto-community to view servers and applications as being at high risk. This means web applications, mobile applications, servers, and all network infrastructure needs to be audited. If Bitcoin Gold had done this, the Windows wallet installer wouldn’t have become compromised. Perpetual monitoring is also needed at the highest level. This ensures all potential cyber attacks, like a DDoS attack is identified quickly and taken care of.
- A larger social engineering focus is needed. By focusing on social engineering, the cryptocurrency community can prevent attacks and scams like fraudulent digital wallets. Website and app clones are becoming more common, costing users millions.
- Educate cryptocurrency users. Education is paramount when it comes to tighter security. In many ways, the cryptocurrency developers and the platforms that allow the buying and trading of digital currency are responsible for ensuring all users know how to avoid malicious cyber attacks. After all, a single hack can cause nearly all cryptocurrency to drop in value.
Learning from Crypto-Mistakes . . .
There was a lot to learn from the Bitcoin hard fork to Bitcoin Gold. It highlighted how easy cyber attacks can happen repetitively to the largest cryptocurrency on the digital marketplace. The cyber attacks also put a bright shining light on the lack of security. By improving cryptocurrency security, the crypto-community will secure a digital market for the future. Are you concerned with current cryptocurrency security?
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Poker AI: The rise of machines against human champions (Infographic)
The AI technology has been picking up steam in the past couple of years. It’s no longer a gimmick or a faraway fiction. Scientists from all around the world are slowly but surely cracking this riddle. Sure, they are still a long journey away from creating a true Artificial Intelligence, but each year we see significant breakthroughs in this field.
Today, you can find some form of AI in many everyday places. For example, Alexa and Siri are world famous AI assistants. They will create appointments, answer your questions, set alarms, shop, and a million other things. Another great example is the Tesla car. Thanks to Tesla’s AI, self-driving cars are no longer a work of fiction.
But what about the poker industry? Surely there must be an AI capable of playing poker at high levels. The answer is yes, there is. This infographic will show you how the poker’s AI developed throughout the history, as well as where it is now.
This infographic originally appeared in pokersites.me.uk. Published with permission.
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