Lazada Malaysia has launched AI Lazzie, an AI shopping assistant powered by OpenAI’s ChatGPT, to enhance the user experience on its platform as the 11.11 sale approaches. AI Lazzie provides users with tailored product recommendations, deals, and curated suggestions based on wishlists and past purchases. Accessible through the Message+ feature on Lazada's app, AI Lazzie will be fully rolled out by the 11.11 sale. Users can also take a personality quiz to discover their shopping “spirit animal” — such as a llama or fennec fox — which grants a unique LazCash voucher code redeemable through Message+. Virtual try-on models are another new feature, allowing users to visualise clothing on virtual models, streamlining the shopping experience for customers and reducing costs for sellers. In October, Lazada released a whitepaper on AI adoption in Southeast Asian e-commerce . The study, conducted with Kantar, surveyed over 6,000 users across Southeast Asia and found that 88% of shoppe
The Federal Reserve (Fed) cut interest rates by 25 basis points on Thursday, bringing the federal funds rate to a range of 4.5% to 4.75%. Fed Chair Jerome Powell confirmed he would not resign if requested by re-elected President Donald Trump, stating that Fed board leaders cannot legally be removed or demoted.
Powell emphasized that the US election outcome will not impact near-term Fed policy decisions. He noted the central bank’s approach remains focused on economic stability and employment as it moves toward a neutral stance on interest rates.
This marks the second consecutive rate cut after a half-point reduction in September. The Fed is taking a “measured” approach to easing, signaling no urgency for further rate cuts but remaining attentive to economic conditions.
Despite Trump’s previous criticisms of Powell, the Fed chair reiterated the focus on maintaining price stability and maximum employment amidst potential fiscal changes under Trump’s new term, including aggressive tariffs and extended tax cuts.
Economic Update:
- US GDP grew at 2.8% in Q3, supported by consumer spending.
- October job growth was modest at 12,000 jobs, impacted by weather and strikes, while unemployment remains low despite a gradual cooling trend in the labor market.
- Inflation has eased to 2.1% in September, close to the Fed’s 2% target, though progress remains uneven.
With another rate cut expected in December, Treasury yields and mortgage rates have risen, further straining the housing market. Powell noted the Fed is monitoring bond yield trends and their potential economic impact.
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