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Last month, the Office of the United States Trade Representative (USTR) announced that it was reversing the United States' longstanding position supporting strong digital trade rules. As we have previously noted, this move would harm American workers, open the door to unfair treatment of American companies, and threaten America's global competitiveness. These rules are in place to prevent foreign governments from unfairly targeting U.S. companies. USTR's change in policy would send a signal that the U.S. government may no longer challenge such discrimination against American companies. The biggest concern is that small and medium-sized businesses in the United States will…
On Friday, December 8, European Union lawmakers reached a political agreement on the AI Act, the world's first comprehensive set of rules to regulate AI. Why it's important: As countries debate how to maximize the potential benefits of AI while managing its potential risks, the EU has naturally emerged as the first country to regulate. Our view: The U.S. Chamber of Commerce remains concerned that EU AI law does not strike a sensible balance between regulating risk and promoting innovation. There is little reason to believe that EU AI legislation could stimulate European competitiveness or open the door to discrimination…
A summary from the November 17 edition of Generative AI News (GAIN). This week continues the theme of market shifts. Right in line with the zeitgeist of Generative AI, Satya Nadella focused on the practical applications of the technology. Individuals and businesses want to move beyond bewilderment and surprise and start implementing and adopting solutions that deliver tangible value. This week, Eric Schwartz, lead writer at Voicebot.ai, joined me to analyze the news barrage from Microsoft, more moves from OpenAI, and a few other announcements. This week's featured articles 🔦Co-pilot everywhere – Microsoft's Ignite conference showcased a number of practical…
At one stage, the hype around the potential of generative AI and large-scale language models (LLM), led by OpenAI's ChatGPT, seemed virtually insurmountable. It was certainly inevitable. More than $1 in every $4 invested in U.S. startups this year has gone to AI-related companies, while OpenAI announced at a recent developer conference that ChatGPT is one of the fastest-growing services in history. It was revealed that. However, something continues to go wrong. In fact, something weird keeps being added. One of the biggest problems with LLMs is the ability to hallucinate. In other words, it makes things up. Numbers vary,…
The Department of Homeland Security (DHS) Cybersecurity and Infrastructure Security Agency (CISA) released its first AI roadmap. The move is seen as an important step in broader government efforts to ensure the safe development and implementation of AI capabilities and is in line with President Biden's recent executive orders. “DHS has a broad leadership role in advancing the responsible use of AI, and this cybersecurity roadmap is a key component of our efforts,” said Secretary of Homeland Security Alejandro N. Mayorkas. ”. “The Biden-Harris Administration is committed to building a secure and resilient digital ecosystem that fosters innovation and technological…
From understanding intentional buying habits to creating easy return policies, there are several emerging trends that small businesses can benefit from learning and leveraging. — Getty Images/Bernard Bodo As the 2023 holiday season approaches, small businesses have an opportunity to take advantage of e-commerce trends that can help increase sales, improve customer experience, and establish a competitive edge. By leveraging these trends, small businesses can thrive during this critical time. Here are seven ways small businesses can take advantage of e-commerce trends this holiday season to grow their profit margins and loyal customer base. [U.S. Chamber of Commerce members get…
Whether it's starting a new side hustle or selling products full-time, more and more people are turning to e-commerce. For the past five years, online sales have grown by double digits per year on average, and Morgan Stanley says now is the perfect time to get involved, as there is “plenty of room for growth” in e-commerce. I'm watching it. Sites like Amazon and Walmart offer services for small businesses to list products, but many businesses prefer to create their own e-commerce store for more control over the selling experience. . From finding the right platform to designing and testing…
NEW YORK – Walmart will continue investing in e-commerce and automation in 2024, when deflation and falling prices are likely.Even after the coronavirus pandemic, Walmart's number of digitally active customers continues to grow, Chief Financial Officer John D. Rainey said at a conference in New York on Dec. 6. Speaking at the Morgan Stanley Global Consumer & Retail Conference.”We're known as a brick-and-mortar retailer,” he says. “We've been doing it well for 60 years, but we've outdone ourselves in the e-commerce space. That's why we're confident that our customers want to shop with us that way. That's why we're investing…
More than 60% of sales on Amazon's e-commerce platform come from small and medium-sized businesses.FTC lawsuit against retail giant alleges the company uses “monopoly power” to control prices, stifle competition and force independent sellers to pay higher fulfillment and advertising costs are doing.E-commerce experts say that regardless of the legal consequences, operating on Amazon and other online retail platforms can be expensive and third-party companies will be very careful with their sales strategies. However, he says that by keeping costs down, healthy profit margins can be achieved. .Products placed in a loading bay at an Amazon fulfillment center during Prime…
E-commerce sales in South Korea reached approximately 210 trillion Korean won in 2022. The popularity of online shopping through various e-commerce channels has continuously grown over the past few years. This was especially true last year, when South Korea's e-commerce market expanded due to the impact of the coronavirus disease (COVID-19). Internet shopping usage statusOnline shopping is the most popular e-commerce method, with approximately 74 percent of Koreans shopping on the internet as of September 2022. Among them, the frequency of monthly online shopping varied, but about half of all Internet shopping users said they shopped more than three times…