New York (CNN Business) China's economy has slumped as Covid cases surged in the world's most populous country. But Chinese consumers stuck at home are still spending. E-commerce giant Alibaba reported better-than-expected earnings and sales for its most recent quarter Thursday. Shares of Alibaba ( BABA ) were up nearly 15% in late morning trading after the company reported that revenue rose 9% from a year ago, topping analysts' forecasts. Alibaba said the strength was due to solid online and mobile shopping demand as well as a 12% jump in sales from its massive Alibaba Cloud unit. Alibaba said that it now has more than 1 billion active customers in China, the first time the company has surpassed that milestone. Alibaba has more than 1.3 billion customers worldwide. Alibaba charman and CEO Daniel Zhang said in a press release that Alibaba was able to post solid results "despite macro challenges that impacted supply chains and consumer … [Read more...] about Chinese consumers are stuck at home but still spending a ton, Alibaba says
Intelligent investing
Parfait’s A.I. Wigs Take Aim At $11 Billion Market By Igniting Cultural Capital
Share to Twitter Share to Linkedin The use of Artificial Intelligence (A.I.) technology has a disparate impact on people of color across various sectors, that’s now changing in the beauty and haircare space thanks to Parfait , an A.I. wig customization platform. The company’s CEO and Co-Founder Isoken Igbinedion aims at disrupting the industry by being the first to use facial recognition and A.I. to provide buyers with customizable wig products. With the global market for facial recognition set to hit a valuation of $11.6 billion in 2026 , Parfait has positioned itself to be a leading player in the tech and hair sectors, by bringing together the love of wigs and racial integrity. The Breakdown You Need To Know: The wig and extensions market is expected to hit $13.2 billion by 2026 , according to a report published by Research and Markets. Parfait raised $5 million in funding spearheaded by Upfront Ventures, Serena Ventures, along with investment … [Read more...] about Parfait’s A.I. Wigs Take Aim At $11 Billion Market By Igniting Cultural Capital
How to build business momentum during challenging times
Today’s tight labor market, economic challenges, and customers’ ever-increasing expectations have changed the business landscape. To adapt, survive and have a chance to thrive, businesses must be increasingly agile. advertisement Companies need the people, processes and technology to support fast decision making, continued innovation and inevitable pivots. Let’s consider how your business can use process redesign, automation and people-first strategies to speed up workflows while delivering exceptional experiences for customers and employees alike. Customer service and personalization Customer service has become a business differentiator: a tool for building connections and reinforcing brand values. While this is more important than ever, it is also more complicated. Jeff Weiner, vice president, general manager at Conduent , a provider of business process outsourcing (BPO) solutions that ignite efficiency, savings and revenue growth, explains that the … [Read more...] about How to build business momentum during challenging times
Babies Born This Decade Could See Humans Visit Jupiter’s Moons And The Asteroid Belt Say Scientists
Share to Twitter Share to Linkedin No fewer than nine robotic missions have visited the Jovian system—home to the solar system’s largest planet, Jupiter—and in less than 80 years humans could make the 499 million miles/803 million kilometers journey. It could be preceded by crewed missions to the Asteroid Belt, which is between the orbits of Mars and Jupiter as early as 50 years from now. However, trips to Saturn’s moons may have to wait a little longer. That’s according to a new paper published on the pre-print service arXiv, which projects the earliest possible launch dates for human-crewed missions to selected destinations in the Solar System and beyond. “Although the Solar System is dauntingly large, human intelligence brought us from the first crude heavier-than-air flight in 1903 to the surface of the Moon only 66 years later,” reads the paper. That’s less than a current average human lifespan in developed nations. “Our model ... suggests … [Read more...] about Babies Born This Decade Could See Humans Visit Jupiter’s Moons And The Asteroid Belt Say Scientists