Internet giants are increasingly integrating artificial intelligence (AI) into e-commerce through AI personal shoppers that assist consumers by identifying bargain deals, offering virtual try-ons, and facilitating payments. Google recently launched an AI shopping feature that includes virtual try-on capabilities. However, the AI industry faces challenges, highlighted by the bankruptcy of BuilderAI, a UK-based startup once valued at $1.5 billion and backed by Microsoft. BuilderAI claimed to use advanced AI technology through its chatbot Natasha, which purportedly could build applications from user input. Investigations revealed that the company employed over 700 Indian developers who manually wrote code, masquerading as an AI system for eight years while raising over $445 million in funding. Additionally, reports indicate that BuilderAI was involved in inflating sales figures through a fake business relationship with the Indian firm VerSe. This case underscores the risks of AI misrepresentation amid growing adoption of AI-driven shopping solutions.
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Times of India @timesofindia: https://t.co/JMLYOwgnjG faked business with Indian firm VerSe to inflate sales: Sources. #aiact #aistrategy #AI https://t.co/NfhG95gcEW
Financial Times @ft: https://t.co/JMLYOwgnjG Faked Business With Indian Firm VerSe to Inflate Sales, Sources Say. #GenAI #robotics #AI https://t.co/UJvsDeJeeJ