The Australian Financial Service (AFS) is to launch a new AI-driven retailing service, which it says will enable the “world’s biggest, most sophisticated and most efficient retail operations”.
“ABS is a leading Australian asset management company, and has over 40 years of experience in the industry,” the company said in a statement.
“Its expertise in financial data analytics, AI and machine learning enabled by SAP’s Cloud Platforms enables AFS to build an automated retail service that delivers value to customers across Australia and around the world.”
AFS said its new service, AI Retailer, would “create a more integrated retail experience across all channels and serve as a platform for our clients to leverage the capabilities of SAP Cloud Platform”.
The service will be available in Australia by the end of the year.
AFS has been at the forefront of AI research and development, with its AI-enabled smart-home platform for home appliances, and its AI service for mobile phone manufacturers.
The AFS also sells AI-based cloud computing services to more than 100 of the world’s largest and most influential companies, including Apple, Amazon and IBM.
The new service will not be a competitor to the existing AI-led Amazon Prime Video, but rather will offer a more holistic view of the products that consumers buy.
The AI Retailers will also offer a new category of products for consumers to purchase.
A new product will be introduced each month, with the new products being targeted to a different consumer, rather than a specific group of consumers.
The service could potentially create a more streamlined shopping experience for consumers, with AFS’s AI Retailing team “aiming to create a world-class, scalable and efficient retail business” for consumers.
AFAILURE TO HOST AN AI REPRESENTATION The Australian Competition and Consumer Commission has been investigating the possibility of the AFS offering a similar AI service to Amazon Prime Videos, which will offer exclusive access to customers’ purchases.
Amazon has previously denied this possibility.
AUSTRALIAN PRIVATE PARTNERS, INCLUDE ANAID AND ANTI-RACISM WATCHERS AT AUSTRACON, AUSTralia’s largest private membership association.
The association, which is backed by Australian private equity firm Redwood Capital, has a membership list of nearly 10,000.
Members of the group are members of Australian Private Equity (APEX) companies including AFAICON and ANAICON, and they also include people who have been subjected to anti-racism, antisemitism and misogyny-related harassment.
A recent study found that in Australia, there were at least four anti-Semitic incidents each week on average, and there were around 542 incidents of anti-Semitism on social media every week in Australia.
“We’re committed to protecting Australians against the rise of hate and hate speech online, and we are proud to be part of the ANAIDS (Australian Network Against Intolerance and Discrimination),” the association said in its statement.
ANAIDs CEO Andrew Wilson said in January that the group would be open to “any and all ideas, whether in-person or online”, that could “lead to better solutions” to the problem.
The group also supports the Australian Government’s “Stop Online Harassment” campaign.
The ANAids statement said AFS would “continue to work with the Australian Federal Police to identify any instances of online hate speech”.