TechTaffy

tech:

taffy

Estée Lauder, Microsoft to build AI Innovation Lab

By TechTaffy Desk

The Estée Lauder Companies (ELC) and Microsoft Corp. announced the creation of an AI Innovation Lab to expand their global strategic relationship. The companies will work together to develop solutions using Microsoft’s Azure OpenAI Service.

The AI Innovation Lab will support and build generative AI use cases across several areas of ELC’s business. A key focus will be faster response and execution to social trends and consumer demands, say the companies.

ELC and Microsoft have created an internal-facing generative AI chatbot as well. The bot uses conversational AI technology to navigate ELC’s database of product and claim data.

Another area of focus is enabling product innovation. ELC and Microsoft are applying generative AI tools in research and development for quicker product development.

The AI Innovation Lab represents a deepening of the strategic relationship between ELC and Microsoft, which began in 2017. As part of this long-term relationship, ELC tapped Azure AI as the platform for its Voice-Enabled Makeup Assistant, a mobile app launched in early 2023 to help visually impaired users more easily apply makeup.

[Image courtesy: Estée Lauder]

Just in

Series E

Vercel raises $250M

San Francisco-based Vercel, a frontend cloud platform provider, has secured $250 million in Series E funding, bringing the company's valuation to $3.25 billion.
Series A

Worky raises $6M (Mexico)

Mexico City-based Worky, a provider of HR and payroll software solutions for Mexican companies, has closed a $6 million Series A financing round.
Industry

Amazon announces $1.31B investment in France

Amazon has announced a new investment of about $1.31 billion (€1.2 billion) in France, which the company says will lead to the creation of over 3,000 permanent jobs in the country.
Around the web

Amazon Web Services CEO Adam Selipsky to step down — CNBC

Adam Selipsky, CEO of Amazon’s cloud computing business, will step down from his role next month. Matt Garman, senior vice president of sales and marketing at Amazon Web Services, will succeed Mr. Selipsky after he exits the company June 3, writes Annie Palmer. 
AI

Palo Alto Networks, Accenture expand alliance to offer generative AI services

Palo Alto Networks and Accenture have announced the expansion of their strategic alliance to provide new offerings that combine Palo Alto Networks' Precision AI technology with Accenture's secure generative AI services.