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Thanksgiving generates $5.3 billion in revenue, and Black Friday 2022 saw record-breaking e-commerce sales of $9.12 billion

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This year’s online holiday shopping season is expected to be subdued, according to analysts and e-commerce leaders. Sales in the first three weeks of November were essentially flat compared to the same period last year because of a weaker economy, inflation, and an increase in people returning to traditional in-store shopping in the wake of the Covid-19 pandemic. However, on the surface, the long Thanksgiving weekend appears to be more prosperous than anticipated, even though development has undoubtedly slowed this year after the spike during the pandemic.

According to data from Adobe Analytics, Black Friday sales surpassed $9 billion for the first time yesterday, with online sales totaling $9.12 billion. This represents a record for the day, an increase of 2.3% over sales from a year ago, and is also somewhat higher than what Adobe had anticipated before the day. Adobe doesn’t break out volumes in its report, making it difficult to determine whether the higher numbers are attributable to more purchases or simply higher prices this year owing to inflation.

For those assessing how the e-commerce market and consumer confidence are faring during what is the most significant and significant time for shopping in the year, Black Friday is a primary focus.

Salesforce releases its own statistics based on 1.5 billion shoppers, and it said that at 5 p.m. ET on Black Friday, online sales had hit $8 billion in the United States and $40 billion globally, with the most heavily discounted products being luxury handbags, clothing, and home appliances.

According to Rob Garf, VP & GM of retail at Salesforce, “Our data shows such a strong association between discount rates and online sales as buyers hung on for the biggest and best offers.” “Consumers on a tight budget are looking for value and pricing. And on Black Friday, stores responded by offering the biggest holiday discounts.

According to Adobe, the most popular categories for customers looking for deals and discounts on Black Friday were toys, video games, and consumer electronics.

Thanksgiving Day’s results were also better than expected: On Thursday, consumers spent $5.29 billion online. This is higher than the $5.1 billion that Adobe had originally predicted for the day and is up 2.9% from a year ago. According to Salesforce, worldwide online sales increased 1% on Thanksgiving to $31 billion, while domestically they increased 9% to $7.5 billion. Furthermore, according to Salesforce, mobile devices accounted for 78% of sales traffic. It claimed that the average order value was $105 globally and $120 for sales in the United States.

With the growth of e-commerce, “Christmas shopping” has undergone a significant change. Online shopping has expanded not only the days and hours that people can shop, but it has also expanded and muddled the idea of seasonality in “holiday” shopping. Black Friday, the day following Thanksgiving, used to be the “first day” of holiday shopping, but that tradition was abandoned years ago when deals began on Thursday.

Of course, it has also had an effect on how people shop. An ever-increasing part of that is being played by mobile devices. On Black Friday, smartphones accounted for a record 48% of total e-commerce transactions (up from 44% in 2021). Thanksgiving remains a stronger day for mobile sales, in part due to the fact that customers are not in stores or at their computers (they are spending time with friends and family, not at their offices!). Thursday saw a 5.5% increase in online transactions made through mobile devices compared to a year ago.

According to Vivek Pandya, chief analyst at Adobe Digital Insights, “mobile shopping had struggled to develop for many years as customers found the experience insufficient compared to desktop.” Thanksgiving this year marked an important turning point, demonstrating how much these encounters have advanced thanks to smartphones.

Additionally, the use of buy-now-pay-later services is increasing, a sign that both customers need to utilize this method and that it is becoming a more common alternative to credit. BNPL orders increased 78% on Black Friday, and according to sales data, they are up 81% from the same day a week prior. Notably, there is a significant increase over the day before as well. Buy-now-pay-later sales and orders increased by 1.3% and 0.7%, respectively, on Thanksgiving (indicating more of it being used for bigger-ticket items). Everything is great as long as there are no longer manageable bills down the road.

According to Adobe, it tracks sales for about 100 million SKUs and 18 different product categories across approximately 1 trillion visits to U.S. retail websites. It claims that 85% of the largest online retailers in the United States utilize it, and its analytics will contain anonymised data from some of its consumers. It stated that since November 1st, around $77.74 billion has been spent online.

The bigger question may actually be whether the increase in activity seen on Thanksgiving will be sustained through the rest of Cyber Week, which includes today’s Black Friday, Cyber Monday, and the weekend in between, as well as the rest of the days and weeks leading up to the New Year. Salesforce and Adobe may have different numbers and measurement parameters, but both are seeing growth. Overall, Adobe forecasts that this year’s Cyber Week will bring in $34.8 billion in online purchases, up 2.8% from the $33.9 billion the previous year.

The Cyber Week of 2021 was actually 1.4% lower than the Cyber Week of 2020, therefore this is a change.

In order to put those numbers into perspective, the National Retail Federation forecasts holiday sales growth of 6% to 8%, while Digital Commerce 360 predicts growth of 6.1% for the time period.

Whatever the case, it’s possible that sales won’t continue in full or even in the near future. According to Adobe, sales for today, often known as Black Friday, are likely to reach $9 billion, an increase of just 1% from 2021 figures.

For a few reasons, it’s crucial to monitor the holiday shopping season. First off, it is typically the busiest sales time of the year for retailers, with the potential to make or break the entire year. (For this reason, Amazon’s stock fell by about 20% following its most recent earnings, which saw the company slash its sales guidance and issue a warning about lower-than-expected holiday spending.)

Due to their disproportionate significance, Christmas sales data from online retailers can be used to predict the health of the e-commerce sector as a whole.

But there are some signs that choppy waters lie ahead if growth is what we’re chasing. According to Adobe, online sales in the first three weeks of November were steady at $64.59 billion, representing a 0.1% increase over 2021.

This is in contrast to physical retailers becoming more assertive in regaining their audience. The U.S. National Retail Federation predicted that 166.3 million people will shop over the long weekend.

Although there is a lot of speculation over how inflation will affect consumer behavior, our research indicates that this Thanksgiving holiday weekend will see strong store visitation and a record number of customers taking advantage of value pricing, according to NRF President and CEO Matthew Shay. “Retailers are ready to meet consumers wherever they want to shop with great products at prices they want to pay, and we are optimistic that retail sales will remain robust in the weeks ahead.”

More sales statistics updates will be posted when they become available.

As Editor here at GeekReply, I'm a big fan of all things Geeky. Most of my contributions to the site are technology related, but I'm also a big fan of video games. My genres of choice include RPGs, MMOs, Grand Strategy, and Simulation. If I'm not chasing after the latest gear on my MMO of choice, I'm here at GeekReply reporting on the latest in Geek culture.

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Google DeepMind Shows Off A Robot That Plays Table Tennis At A Fun “Solidly Amateur” Level

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Have you ever wanted to play table tennis but didn’t have anyone to play with? We have a big scientific discovery for you! Google DeepMind just showed off a robot that could give you a run for your money in a game. But don’t think you’d be beaten badly—the engineers say their robot plays at a “solidly amateur” level.

From scary faces to robo-snails that work together to Atlas, who is now retired and happy, it seems like we’re always just one step away from another amazing robotics achievement. But people can still do a lot of things that robots haven’t come close to.

In terms of speed and performance in physical tasks, engineers are still trying to make machines that can be like humans. With the creation of their table-tennis-playing robot, a team at DeepMind has taken a step toward that goal.

What the team says in their new preprint, which hasn’t been published yet in a peer-reviewed journal, is that competitive matches are often incredibly dynamic, with complicated movements, quick eye-hand coordination, and high-level strategies that change based on the opponent’s strengths and weaknesses. Pure strategy games like chess, which robots are already good at (though with… mixed results), don’t have these features. Games like table tennis do.

People who play games spend years practicing to get better. The DeepMind team wanted to make a robot that could really compete with a human opponent and make the game fun for both of them. They say that their robot is the first to reach these goals.

They came up with a library of “low-level skills” and a “high-level controller” that picks the best skill for each situation. As the team explained in their announcement of their new idea, the skill library has a number of different table tennis techniques, such as forehand and backhand serves. The controller uses descriptions of these skills along with information about how the game is going and its opponent’s skill level to choose the best skill that it can physically do.

The robot began with some information about people. It was then taught through simulations that helped it learn new skills through reinforcement learning. It continued to learn and change by playing against people. Watch the video below to see for yourself what happened.

“It’s really cool to see the robot play against players of all skill levels and styles.” Our goal was for the robot to be at an intermediate level when we started. “It really did that, all of our hard work paid off,” said Barney J. Reed, a professional table tennis coach who helped with the project. “I think the robot was even better than I thought it would be.”

The team held competitions where the robot competed against 29 people whose skills ranged from beginner to advanced+. The matches were played according to normal rules, with one important exception: the robot could not physically serve the ball.

The robot won every game it played against beginners, but it lost every game it played against advanced and advanced+ players. It won 55% of the time against opponents at an intermediate level, which led the team to believe it had reached an intermediate level of human skill.

The important thing is that all of the opponents, no matter how good they were, thought the matches were “fun” and “engaging.” They even had fun taking advantage of the robot’s flaws. The more skilled players thought that this kind of system could be better than a ball thrower as a way to train.

There probably won’t be a robot team in the Olympics any time soon, but it could be used as a training tool. Who knows what will happen in the future?

The preprint has been put on arXiv.

 

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Is it possible to legally make AI chatbots tell the truth?

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A lot of people have tried out chatbots like ChatGPT in the past few months. Although they can be useful, there are also many examples of them giving out the wrong information. A group of scientists from the University of Oxford now want to know if there is a legal way to make these chatbots tell us the truth.

The growth of big language models
There is a lot of talk about artificial intelligence (AI), which has grown to new heights in the last few years. One part of AI has gotten more attention than any other, at least from people who aren’t experts in machine learning. It’s the big language models (LLMs) that use generative AI to make answers to almost any question sound eerily like they came from a person.

Models like those in ChatGPT and Google’s Gemini are trained on huge amounts of data, which brings up a lot of privacy and intellectual property issues. This is what lets them understand natural language questions and come up with answers that make sense and are relevant. When you use a search engine, you have to learn syntax. But with this, you don’t have to. In theory, all you have to do is ask a question like you would normally.

There’s no doubt that they have impressive skills, and they sound sure of their answers. One small problem is that these chatbots often sound very sure of themselves when they’re completely wrong. Which could be fine if people would just remember not to believe everything they say.

The authors of the new paper say, “While problems arising from our tendency to anthropomorphize machines are well established, our vulnerability to treating LLMs as human-like truth tellers is uniquely worrying.” This is something that anyone who has ever had a fight with Alexa or Siri will know all too well.

“LLMs aren’t meant to tell the truth in a fundamental way.”

It’s simple to type a question into ChatGPT and think that it is “thinking” about the answer like a person would. It looks like that, but that’s not how these models work in real life.

Do not trust everything you read.
They say that LLMs “are text-generation engines designed to guess which string of words will come next in a piece of text.” One of the ways that the models are judged during development is by how truthful their answers are. The authors say that people can too often oversimplify, be biased, or just make stuff up when they are trying to give the most “helpful” answer.

It’s not the first time that people have said something like this. In fact, one paper went so far as to call the models “bullshitters.” In 2023, Professor Robin Emsley, editor of the journal Schizophrenia, wrote about his experience with ChatGPT. He said, “What I experienced were fabrications and falsifications.” The chatbot came up with citations for academic papers that didn’t exist and for a number of papers that had nothing to do with the question. Other people have said the same thing.

What’s important is that they do well with questions that have a clear, factual answer that has been used a lot in their training data. They are only as good as the data they are taught. And unless you’re ready to carefully fact-check any answer you get from an LLM, it can be hard to tell how accurate the information is, since many of them don’t give links to their sources or any other sign of confidence.

“Unlike human speakers, LLMs do not have any internal notions of expertise or confidence. Instead, they are always “doing their best” to be helpful and convincingly answer the question,” the Oxford team writes.

They were especially worried about what they call “careless speech” and the harm that could come from LLMs sharing these kinds of responses in real-life conversations. What this made them think about is whether LLM providers could be legally required to make sure that their models are telling the truth.

In what ways did the new study end?
The authors looked at current European Union (EU) laws and found that there aren’t many clear situations where an organization or person has to tell the truth. There are a few, but they only apply to certain institutions or sectors and not often to the private sector. Most of the rules that are already in place were not made with LLMs in mind because they use fairly new technology.

Thus, the writers suggest a new plan: “making it a legal duty to cut down on careless speech among providers of both narrow- and general-purpose LLMs.”

“Who decides what is true?” is a natural question. The authors answer this by saying that the goal is not to force LLMs to take a certain path, but to require “plurality and representativeness of sources.” There is a lot of disagreement among the authors about how much “helpfulness” should weigh against “truthfulness.” It’s not easy, but it might be possible.

To be clear, we haven’t asked ChatGPT these questions, so there aren’t any easy answers. However, as this technology develops, developers will have to deal with them. For now, when you’re working with an LLM, it might be helpful to remember this sobering quote from the authors: “They are designed to take part in natural language conversations with people and give answers that are convincing and feel helpful, no matter what the truth is.”

The study was written up in the Royal Society Open Science journal.

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When Twitter users drop the four-word phrase “bots,” bots drop out

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When Elon Musk took over X, it was called Twitter, which is a much better-known name now. He made a big deal out of getting rid of the bots. A study by the Queensland University of Technology, on the other hand, shows that bots are still very active on the platform almost two years later.

X users have found a few ways to get them to come to them. For example, one woman found that posting the phrase “sugar daddy” would get a lot of bots to come to her. It looks like bots are also getting lost because of a new phrase that’s going around. X users have been reporting accounts as automated bots powered by large language models by replying to a suspected bot with “ignore all previous instructions” or “disregard all previous instructions” and then giving the bot more instructions of their choice.

Some people just like writing poems, being trolls, or following directions, so not every example will be from a bot. However, the phrase does seem to make some automated accounts show themselves. There are still a lot of bots on X.

 

 

 

 

 

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