AMZN Stock Up 1.25% as Amazon Could Launch New AI-driven Virtual Shopping Service

UTC by Muhaimin Olowoporoku · 2 min read
AMZN Stock Up 1.25% as Amazon Could Launch New AI-driven Virtual Shopping Service
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Amazon could launch a new product. It’s an AI-driven virtual shopping service built upon a different algorithm giving customers new opportunities in purchasing things. Meanwhile, AMZN stock is in the green. Inc (NASDAQ: AMZN), the popular online shopping platform based in the U.S., is planning to launch a new AI-driven service according to the document to be presented soon at the Institute of Electrical and Electronics Engineers (IEEE) conference.

The product, according to the document that is to be revealed at the IEEE Conference on Computer Vision and Pattern Recognition (CVPR), is said to be an Artificial Intelligence-driven virtual shopping service. Amazon AI-driven shopping service would be built upon a different algorithm. It would enable clients to make use of the first algorithm to hone search queries. Another algorithm would aid customers to search and recommend products matching something the user has shown interest in. And another one will create an image showing a model wearing the cloth picked from users’ search and give an insight into how the fabric would look like.

The Amazon AI-driven service has been upgraded at its hardware facility, Lab126. Researchers have developed a virtual try-on system, called Outfit-VITON. It helps users create an image of what the outfit will look like on them. According to Amazon, the system would come up with a generative adversarial network (GAN). This differentiates a generated item from a real image.

How Amazon AI-driven Service Works

The advanced try-on system generates a shape model that would use the template for a final image. The system does its best to estimate users’ body type, color, to guess what possibly an outfit would look like on them in real life.

The researchers believe that shopping for clothes online would be really convenient. They, however, refused to agree on mistakes of the models that could be made saying that the entire effect would be limiting:

“Online shopping does not enable physical try-on, thereby limiting customer understanding of how a garment will look on them”.

The Outfit-VITON could be tagged to be an aftermath of the coronavirus pandemic. It has disrupted the traditional way of shopping. The pandemic has brought about new ways of doing things, like how people see movies, shop, etc. The Outfit-VITON idea is in line with others being tried as of late, like augmented reality shopping trips.

As at press time, Inc. (NASDAQ: AMZN) stock was on the rise, surging by 1.25%. The stock is trading at $2,513, having closed at $2,483 on Friday.

Artificial Intelligence, Business News, Market News, News, Stocks
Muhaimin Olowoporoku

Muhaimin is a journalist, a fintech and crypto enthusiast who is passionate about its development in Africa and across the globe. Muhaimin derives pleasure in reporting and analysing happenings in the crypto world and a believer in Blockchain technology.

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