Thos Robinson | Getty Images Amazon CEO Andy Jassy could see how dramatically artificial intelligence was altering e-commerce. In June, he told employees that AI agents will start to infiltrate aspects of everyday life, “from shopping to travel to daily chores and tasks.” Four months later, Jassy said on an earnings call that Amazon expects to partner with third-party agents, and has … Read more
FILE PHOTO: Instacart shopper, Loralyn Geggatt makes a delivery to a customer’s home in Falmouth, MA on April 7, 2020. David L. Ryan | Boston Globe | Getty Images Instacart said Monday it will cease the use of artificial intelligence-driven pricing tests on its grocery delivery platform after the practice was scrutinized in a wide-ranging … Read more
Pavlo Gonchar | SOPA Images | Lightrocket | Getty Images Instacart will pay $60 million to settle allegations by the Federal Trade Commission that it misled users with false advertising and deployed “unlawful subscription enrollment” practices. The federal agency alleged that Instacart used deceptive tactics in its subscription sign-up and “satisfaction guarantee” advertising that caused … Read more
Microsoft CEO Satya Nadella speaks at Microsoft Build AI Day in Jakarta, Indonesia, on April 30, 2024. Adek Berry | AFP | Getty Images On Microsoft’s earnings call last month, CEO Satya Nadella boasted about the company’s artificial intelligence products, and said over 150 million people are using its Copilot assistant for productivity, cybersecurity, coding … Read more
Instacart topped third-quarter earnings and issued upbeat guidance under new CEO Chris Rogers. The grocery delivery platform‘s stock was flat. Here’s how the company did versus LSEG estimates: Earnings per share: 51 cents adjusted vs. 49 cents expected Revenue: $939 million vs. $934 million expected Revenues rose 10% from $852 million in the year-ago period. … Read more