A Chinese check on Algorithms
The Hindu
With algorithmic recommendations becoming ever-pervasive and each company using its own secret sauce to entice consumers, the Chinese government has turned to regulations
Algorithmic recommendations are at the heart of the digital transformation we are witnessing now. From buying laptops to groceries, most people have gradually adopted a new digital consumer lifestyle within a decade. The pandemic-induced policies have accelerated this shift and added more services that can be accessed online.
According to a report from an UN Conference on Trade and Development (UNCTAD), the e-commerce sector saw a “dramatic” rise in its share of all retail sales, to 19% from 16% in 2020. Online retail sales grew markedly in several countries, and global e-commerce sales jumped to $26.7 trillion in 2019, up 4% from 2018. That’s about 30% of the global gross domestic product (GDP).
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