US

eBay Introduces New AI Feature for Sellers

eBay has rolled out a new AI tool designed to help sellers convert product images into professional-grade visuals. The background enhancement feature allows sellers to remove existing backgrounds and replace them with AI-generated backgrounds from various themes. This tool is currently available for iOS users in the US, UK, and Germany, with plans to expand to Android users in the coming months. The feature is still in its early stages, with eBay planning to iterate the visual generation model based on user feedback. Over the past year, eBay has developed other AI-based tools to assist sellers in creating listings and promoting their products on social media.

Century 21 Expands Live Shopping on TikTok

Century 21 has announced an expansion of its partnership with the live shopping app ShopShops to include operations on TikTok Shop. Since 2018, Century 21 has conducted weekly live shopping sessions on ShopShops and Instagram, selling discounted designer items. Starting June, Century 21’s dedicated hosts on ShopShops will also share live shopping sessions on TikTok. This move aims to attract new customers and retain existing ones by combining unique shopping experiences with TikTok’s dynamic platform. Century 21, which filed for bankruptcy in 2020 and reopened its flagship store in New York a year ago, aims to revive its e-commerce business through this collaboration.

Adobe Analytics Reports Strong E-commerce Growth

According to Adobe Analytics, US e-commerce saw a robust growth of 7% in the first four months of 2024, reaching $332 billion. The analysis, based on data from one trillion visits to US retail websites, highlights steady spending on electronics and apparel, as well as a surge in online grocery shopping. Adobe predicts that online spending in the first half of 2024 will exceed $500 billion, a six point eight percent year-over-year increase. The report also notes significant growth in low-priced items across various categories due to ongoing inflation, with “buy now, pay later” (BNPL) payment methods driving $25.9 billion in e-commerce spending, up 11.8% from the previous year.

Globe

Temu Faces Stricter EU Regulations

The European Union has listed Temu among the platforms subject to the highest level of digital scrutiny under the Digital Services Act (DSA). With over 45 million users, Temu is classified as a “very large online platform” and must comply with the strictest DSA regulations by September 2024. This includes assessing and mitigating systemic risks, preventing the sale of counterfeit and unsafe products, and enhancing user interface and algorithm transparency. Temu, which has rapidly gained popularity by offering low-cost products from China, has committed to complying with these regulations to ensure user safety and transparency within the EU.

Shein Expands Shein Exchange to Europe

Shein has announced the extension of its Shein Exchange resale platform to Europe and the UK, starting with France and soon expanding to the UK and Germany. Launched in the US in October 2022, Shein Exchange allows users to buy and sell pre-owned Shein items directly through the Shein app. The platform has seen significant user engagement, with over 4.2 million new users and 95,000 independent sellers in the US in 2023. This expansion aims to promote sustainable fashion and circular economy practices among Shein’s European customers.

Zara to Expand Live Shopping to Europe and US

Zara plans to extend its live shopping model to the UK, Europe, and the US later this year. Since launching on Douyin in November, Zara’s live shopping events have effectively boosted sales, attracting an average of 800,000 viewers per session. Based on this success, Zara will test this model in Western markets from August to October, featuring live sessions on its app and website. These sessions, hosted by fashion influencers, will focus on the Zara Woman collection and offer an interactive shopping experience. While the effectiveness in Western markets remains to be seen, Zara’s investment in live shopping reflects its commitment to innovative retail strategies.

A study by Adyen reveals that nearly 70% of Mexican online consumers have shopped through social media platforms in the past year, with a high percentage of young consumers leading this trend. The report highlights that 17% of these consumers were first-time social media shoppers, with 45% spending an average of 1,000 pesos per purchase. Facebook Marketplace is the preferred platform across all age groups, followed by TikTok. The study also notes that 77% of Mexican businesses using social e-commerce have seen significant revenue growth, with health and beauty, food, and home improvement being the most popular categories.

AI

AMD New Chips Take on Nvidia, Power AI PC Workloads

AMD has launched new AI-focused hardware at Computex 2024, unveiling AI accelerators like the Instinct MI325X to compete with Nvidia’s H100 units. AMD also previewed its EPYC server processors, codenamed Turin, set for release in late 2024, ahead of Nvidia’s new Blackwell hardware. AMD plans further releases with the MI350 GPU in 2025 and the Instinct MI400 GPUs in twenty twenty six, aligning its release cycle with Nvidia’s new annual product roadmap. AMD CEO Lisa Su emphasized AI as the company’s top priority, highlighting their comprehensive AI computing solutions from cloud servers to AI-enabled devices. Additionally, AMD introduced new AI-enabled processors for mobile, laptops, and desktops, partnering with companies like Microsoft, Lenovo, and Asus to integrate these advancements into new consumer products.

Intel Unveils New Data Chips; Set to Rival Nvidia, AMD

Intel introduced new AI-focused chips at Computex 2024, including the laptop-oriented Lunar Lake processor and the data center-centric Xeon six s. These chips aim to enhance AI capabilities, with the Gaudi accelerators positioned to challenge Nvidia’s H100 GPUs at a lower cost. CEO Pat Gelsinger highlighted AI as a transformative force in computing, unveiling hardware designed to power AI workloads efficiently. Intel’s new Lunar Lake PC chip, offering significant performance improvements, will feature in 80 new laptops this year. Gelsinger emphasized Intel’s comprehensive AI solutions across PCs, networks, edge, and data centers, positioning the company to capitalize on AI advancements.

AI Cyber Threats Force 75% of Firms to Change Security Strategies

According to a recent study, increasing AI-driven cyber threats have compelled 75% of organizations to revise their security strategies. These threats have highlighted the need for advanced cybersecurity measures, pushing firms to invest in AI-based security solutions to protect sensitive data and infrastructure. The rise in sophisticated attacks has accelerated the adoption of AI technologies designed to detect and mitigate potential breaches. As cyber threats evolve, companies are continuously updating their defenses to stay ahead. This trend underscores the critical role of AI in modern cybersecurity frameworks.

Elon Musk’s xAI Plans to Build Supercomputer in Memphis

Elon Musk’s AI company, xAI, announced plans to build a new supercomputer in Memphis. This initiative aims to enhance xAI’s computational capabilities, supporting advanced AI research and development. The supercomputer will provide significant processing power, crucial for training large AI models and conducting complex simulations. This move reflects Musk’s commitment to pushing the boundaries of AI technology and infrastructure. By establishing this facility, xAI aims to accelerate innovation and maintain a competitive edge in the rapidly evolving AI landscape.