Gap Inc. has acquired the New York and Tel Aviv based start-up Context-Based 4 Casting Ltd. (CB4) that uses cutting-edge AI and machine learning tools to transform retail operations, increase sales and improve the customer experience through predictive analytics and demand sensing. “We believe artificial intelligence and machine learning will shape the future of our industry. Gap Inc. has experience working with CB4’s world-class data scientists, so we understand the impact and the wide applications their science can have across sales, inventory and consumer insights, as well as its potential to unlock value and enhance the customer experience,” said Sally Gilligan, Chief Growth Transformation Officer Chief, and head of the Strategic Growth Office at Gap Inc. The deal was brokered by Gap Inc.’s Strategic Growth Office, a unit of the company that seeks out opportunities to fuel growth and accelerate new capabilities across its portfolio of brands.
News Corp’s fiscal 2023 marked the first year that more than half of its revenue came from digital platforms — marking a “profound transformation” over the last decade, CEO Robert Thomson said in the company’s fiscal Q4 earnings call on Friday.
Thomson attributed its current digital momentum to initiatives based in generative AI, which represents “a remarkable opportunity to create a new stream of revenues, while allowing us to reduce costs across the business” through “exponential” efficiencies, he said.
A News Corp Australia executive recently revealed that the division has been using generative AI to produce about 3,000 local news items per week, covering topics including weather, traffic and fuel prices.
more at: https://www.mediapost.com/publications/article/388182/news-corp-50-of-revenue-now-digital-ai-to-driv.html