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DBS and Ant International Test Blockchain-Powered Treasury Management Solution

2024-08-13T23:16:36Z

DBS and Ant International have launched a pilot of a blockchain-powered treasury and liquidity management solution designed to enable Ant International to reduce the settlement of intragroup transactions from days to seconds.

The solution, DBS Treasury Tokens, will enable Ant International, a provider of digital payment and financial services solutions, to use the digital form factor to achieve instant, multicurrency treasury and liquidity management on DBS’ permissioned blockchain for its entities across multiple markets, the companies said in a Tuesday (Aug. 13) press release.

In addition, because DBS’ permissioned blockchain is integrated with Ant International’s treasury management solution, Whale, Ant International will be able to seamlessly manage its intragroup liquidity around the clock, according to the release.

“This milestone with DBS is an important step forward in addressing challenges like reducing costs and transaction risks for cross-border payments,” Kelvin Li, head of platform tech at Ant International, said in the release.

DBS Treasury Tokens aims to solve challenges faced by large corporates like Ant International that operate several entities across multiple markets and need to manage payments, collections, funding needs and cash positions across time zones and currencies, according to the release.

By reducing the settlement of intragroup transactions, the solution optimizes intragroup liquidity and working capital and provides corporate treasurers with greater visibility, predictability and control over the group’s cash position, per the release.

“This new capability comes at a time when the treasury needs of businesses are evolving to meet the rise of eCommerce and on-demand services on a 24/7 basis,” Lim Soon Chong, group head of global transaction services at DBS Bank, said in the release. “DBS Treasury Tokens and our partnership with Ant International demonstrates how corporates can seize such opportunities with full confidence that their liquidity management capabilities can scale in tandem.”

This pilot stems from what DBS learned from its participation in two projects led by the Monetary Authority of Singapore: Project Orchid, which aims to develop the technology necessary for a digital Singapore dollar, and Project Guardian, which brought together policymakers and the financial industry to use asset tokenization to enhance the liquidity and efficiency of financial markets, according to the release.

DBS Treasury Tokens is one of the industry applications tested under Project Guardian, per the release.

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Ride-Hailing Platforms’ Earnings Underscore Gig Economy’s Momentum

2024-08-13T23:12:48Z

The side hustle — and the ancillary streams of income those hustles provide — now is a lifeline in the paycheck-to-paycheck economy, across all income levels.

Earlier this year, PYMNTS reported that 22% of all U.S. consumers work on the side to enhance their cash flow. According to the data, 23% of paycheck-to-paycheck Americans who say keeping up with their monthly bills is a challenge look for active supplemental income. Meanwhile, 26% of workers earning more than $100,000 per year told PYMNTS Intelligence that they worked at least one side-job.

Second-quarter earnings from gig platforms — ride-hailing and delivery stalwarts like Uber, Lyft, Instacart and the freelancing firm Fiverr — show that the momentum’s got legs, despite some volatility in food delivery as consumers cut back.

Uber and Lyft

In Uber’s case, that momentum is evident in the 7.4 million drivers and couriers on its platform in Q2, up from the 7.1 million drivers in the first quarter. CEO Dara Khosrowshahi said on the conference call with analysts that “when there’s a weaker job market, typically, our driver supply on the mobility side significantly improves.”

He noted on the call that average earnings per utilized hour for drivers in the U.S. is $33 per utilized hour, 23% higher than a year ago. Khosrowshahi noted that multi-product consumers spend three times more than other consumers, which in turn continues to feed demand for drivers who pivot between ride-hailing and Uber Eats.

Lyft CEO David Risher said during the earnings call that the company has 1 million active drivers in place, with the greatest number of new drivers signing on in the most recent quarter than had been seen since 2019.

“Gig work like driving helps people live their lives on their terms, and that’s why it’s here to stay,” Risher said.

As noted here, Lyft has set an earnings policy where its drivers will always earn 70% or more on fares per week, after external fees. If drivers are ever under 70% at the end of the week, Lyft pays them the difference.

Elsewhere, Instacart has noted that 600,000 shoppers have been leveraging its platform for income. CFO Emily Reuter said on the earnings call with analysts that, with a nod to shoppers’ earnings, the company is “really continuing to see shopper efficiencies in terms of the payments that we make to shoppers to make deliveries. And that’s driven by our order density at the end of the day, being able to drive batch rates, which really only results from multiple large batches happening at the same store at the same time.”

In our coverage of Fiverr’s results, we noted that the freelancer platform Fiverr saw that active buyers dropped 8% during the quarter, from 4.2 million to 3.9 million. Spending per buyer, however, increased 10%, from $265 to $290. The company said in its earnings materials that the overall addressable market for freelancing in the U.S. is $247 billion.

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New Starbucks CEO Brian Niccol Brings Innovative Track Record to QSR Environment

2024-08-13T22:20:09Z

Chipotle CEO Brian Niccol will take over as CEO of Starbucks Sept. 9, and he has the support of Starbucks founder and Chairman Emeritus Howard Schultz.

“I know how excited [Schultz] is,” Starbucks board chair Mellody Hobson said during an interview with CNBC. “When I called him and told him what we were doing and what I have been working on and what the board had been pursuing, he said, ‘Mellody, that’s a home run.’”

Schultz’s seal of approval heralds what leadership hopes will be a new era that addresses challenges and drives future growth.

Niccol replaces Laxman Narasimhan. The transition comes after Elliott Management became one of Starbucks’ largest investors.

“We welcome the appointment of Brian Niccol, and we look forward to continuing our engagement with the board as it works toward the realization of Starbucks’ full potential,” the activist hedge fund, which has previously targeted major corporations for change, said in a statement.

Schultz was critical of Starbucks’ trajectory under Narasimhan, who relied on discounting and new products to revitalize the company after he became CEO in March 2023, CNBC reported. Starbucks struggled with declining sales over several quarters, including drops in China and softness in the U.S. market.

Industry analysts were positive in their assessment of Niccol’s appointment. In an interview with PYMNTS, Amanda Lai, a retail analyst and director for consultancy McMillan Doolittle, said it is “a logical choice to help revitalize the momentum behind the company and address the complex challenges facing the company as consumer preferences continue to evolve and competition continues to grow in the coffeehouse sector.”

Greg Zakowicz, senior eCommerce expert at Omnisend, told PYMNTS Niccol’s hire is promising.

“It’s surprising, but he may just be the perfect fit for the organization,” Zakowicz said. “He has an impressive background, especially in the food industry where products are nonessential items, and has successfully led companies like this during challenging economic times. With a continual increase of consumers trading down on items like groceries, I don’t think this should be understated. He knows how to appeal to consumers at times when their wallets are tight. That is one thing Starbucks desperately needs.”

Rachel Ruggeri will serve as Starbucks’ interim CEO until Niccol begins, Reuters reported. Niccol became CEO of Chipotle in 2018 and is credited with driving growth and innovation at the company. Chipotle’s stock has performed well, tripling over the last five years.

Scott Boatwright will step in as interim CEO following Niccol’s departure Aug. 31. Boatwright, who has been with Chipotle since 2017, has been instrumental in overseeing operations for more than 120,000 employees and over 3,500 stores, as well as integrating key technologies within the restaurants, according to a press release.

Niccol is no stranger to the QSR sector. During his tenure as CEO of Taco Bell from 2015 to 2018, Niccol implemented several strategies that improved the brand’s performance.

He introduced the Breakfast Menu, attracting new customers and enhancing the brand’s appeal, and the Doritos Locos Tacos, which drove an increase in sales. Niccol also spearheaded Taco Bell’s digital transformation by launching a user-friendly app that streamlined ordering and boosted customer engagement.

His focus on operational efficiency and cost management enhanced profitability and solidified Taco Bell’s position as a modern, innovative player in the fast-food industry. Additionally, his efforts to expand Taco Bell’s international footprint and accelerate store openings contributed to the chain’s global growth.

At Chipotle, Niccol led a turnaround from 2018 to 2024, nearly doubling the company’s revenue and achieving a stock surge of nearly 800%, Starbucks said in a press release.

Niccol introduced successful menu innovations and expanded digital capabilities, including online ordering, delivery services and the Chipotle Rewards program.

“Niccol’s previous experience at the helm of Chipotle will lend itself well to reinvigorating the Starbucks brand,” Lai said. “At Chipotle, Niccol’s focus on digital transformation, operational efficiency and customer engagement helped lead the fast-casual chain into a new phase of growth. Initiatives included re-envisioning its online ordering platform to grow digital sales, launching and growing Chipotle loyalty program to drive customer engagement, and simplifying the menu to improve in-store operations.”

She added that the Chipotle Rewards loyalty program “introduced personalized challenges and achievement rewards to gamify the experience and drive engagement with customers. He could similarly look to refresh the Starbucks Rewards program by emphasizing personalization and adding experiential elements to increase loyalty and drive retention.”

While Narasimhan’s tenure as CEO at Starbucks was marked by declining global sales, Niccol’s CEO trajectory at Taco Bell and Chipotle has ridden a wave of positive momentum.

During his tenure at Chipotle, Lai explained, Niccol created an environment centered on innovation and continuous improvement. His emphasis on learning and development empowered employees at all levels of the organization and drove improvements in operational excellence and service quality.

“This could translate well to bringing a new energy to Starbucks where morale has been challenged by multiple leadership changes and ongoing pressures from union campaigns over the years,” Lai said. “In the age of digital transformation, Starbucks needs a leader who can re-establish trust and loyalty among both its employees and customers while forging a path forward that positions the company as a digital-first leader in a crowded coffee landscape. With his experience driving digital initiatives, such as launching loyalty and expanding mobile ordering and delivery at Chipotle, Niccol is well-positioned to further refine and evolve Starbucks’ digital growth plans to help Starbucks navigate the evolving competitive landscape and drive sustainable growth.”

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Google Fitbit Users to Gain Access to Peloton Classes

2024-08-13T22:06:32Z

Peloton and Google Fitbit have formed a multi-year, multi-country partnership to promote their fitness-oriented offerings to each other’s customers.

Starting in September, Fitbit Premium members will have access to Peloton classes, while Fitbit users without a Premium subscription will have access to a select group of those classes, Peloton said in a Tuesday (Aug. 13) press release.

The Peloton classes will be available to Fitbit Premium members in the United States, the United Kingdom, Canada and Australia, according to the release.

In addition, through this content distribution partnership, Peloton Members will receive special offers on Google Pixel Watch and Fitbit Charge 6 devices, per the release.

“We’re thrilled to bring Peloton’s classes and world-class instructors to Fitbit users, and continue to establish Peloton as a one-stop shop for all types of fitness content,” Greg Hybl, senior vice president and general manager of Peloton for Business, said in the release. “Together we share a commitment to make health and wellness more accessible and ensure even more people can reach their fitness goals.”

The convergence of technology and fitness, exemplified by the proliferation of wearable innovations aggregating diverse fitness data sources, has been a post-pandemic trend, PYMNTS reported in May.

Younger consumers are especially likely to use healthcare-related wearables, according to the March 2023 edition of PYMNTS Intelligence’s “The ConnectedEconomy Monthly Report: The Evolving Digital Daily.”

Thirty percent of Gen Z respondents said they use wearable technology that gathers health information on a daily basis, as did 27% of millennials, the report found.

In another collaboration, Peloton and TikTok said in January that they had partnered to offer Peloton’s workout content to TikTok users in the U.S., the U.K. and Canada.

This partnership marked the first time the connected fitness platform produced bespoke social content for a partner outside of its own channels.

“We collectively recognize the way people engage with fitness is constantly changing,” Oli Snoddy, who was vice president of consumer marketing at Peloton at the time, said in a press release announcing the partnership. “Our team is excited to complement TikTok’s already burgeoning fitness content by introducing the magic of Peloton to new audiences, and in completely new ways.”

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Tekmetric and Affirm Enable Auto Repair Payments in Installments

2024-08-13T21:01:18Z

Tekmetric has partnered with Affirm to enable auto repair shops to offer their customers the ability to pay over time.

With this partnership, Affirm’s payment network can be accessed through Tekmetric’s automotive repair shop management solution, the companies said in a Tuesday (Aug. 13) press release.

Auto repair shops that use Tekmetric’s platform can add Affirm as a payment option with a few clicks, according to the release.

Then, the repair shops’ customers can select Affirm at checkout and, when approved, split the cost of their purchase into monthly or biweekly payments and see the total cost of their purchase, per the release.

“Our partnership with Affirm allows our partner shops to improve customer satisfaction by offering flexible payment plans, and to drive higher repair order values and loyalty through versatile payment choices,” Sunil Patel, founder and CEO of Tekmetric, said in the release.

Tekmetric joins more than 292,000 retail partners that offer Affirm at checkout, according to the release.

“Consumers increasingly expect payment flexibility at checkout, with a recent Affirm survey revealing that more than half of respondents have used or would use ‘buy now, pay later’ options,” Pat Suh, senior vice president of revenue at Affirm, said in the release. “By partnering with Tekmetric, we can help the auto repair shops leveraging their platform meet this consumer demand and accelerate revenue growth.”

Digital tools and platforms are making hefty auto repair bills, particularly unplanned ones, more manageable for drivers, PYMNTS reported in February.

Millennials are especially likely to use BNPL for vehicle maintenance, according to “The Credit Accessibility Series: BNPL’s Wide-Ranging Impact on Consumers and Merchants,” a PYMNTS Intelligence and Sezzle collaboration.

The report found that 5.8% of millennials said they purchased vehicle maintenance in their last BNPL transaction, compared to 3.9% of Gen Z consumers, 3.2% of Gen X consumers and 1.7% of baby boomers and seniors.

In January, Bumper, a London-based FinTech that lets customers fund car repairs in installments, raised $48 million and said it would use the funding to expand throughout Europe, targeting car dealers and repair shops in the United Kingdom, Spain, Germany, the Netherlands and Ireland.

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FCC Proposes New Rules on AI-Powered Robocalls

2024-08-13T21:00:53Z

In a move that could force businesses to overhaul their automated customer outreach, the Federal Communications Commission (FCC) has proposed new rules requiring companies to disclose when they use artificial intelligence (AI) to generate robocalls and texts, potentially reshaping the landscape of customer interactions and brand loyalty.

The FCC’s proposal aims to increase transparency in AI-powered communications. If implemented, these rules would require upfront disclosure of AI use in automated calls and messages, potentially altering how businesses interact with consumers.

“The FCC rules, if adopted, may require businesses that use automated voice and text communications to make adjustments to their processes, as well as investments in technology and training to ensure compliance,” Trevor Francis, CEO at voice connectivity company 46 Labs, told PYMNTS. “They may need to revise scripts, rethink their use of automation, or implement alternative ways of communicating with their customers.”

Compliance Challenges and Opportunities

The proposal, detailed in Notice FCC 24-84, would require callers to inform consumers when AI is employed in communications. This move aims to equip the public with tools to identify and avoid potentially fraudulent or scam-related calls, according to the FCC. The FCC has issued a notice seeking public comments on its proposed rules and ideas for alerting consumers to AI-generated spam calls and texts.

Instructions for commenting on FCC proposals can be found online.

Robocalls have long been a nuisance for consumers and a challenge for regulators. In 2022, Americans received nearly 50 billion robocalls, according to YouMail, a company that tracks and blocks such calls.

These automated communications range from legitimate business reminders to fraudulent scams, costing consumers billions annually. Previous FCC efforts to combat robocalls have included implementing STIR/SHAKEN protocols to authenticate caller IDs and imposing fines on violators. However, as technology advances, so do the tactics of bad actors.

The rise of AI-generated voices has added complexity to the issue, enabling more convincing impersonations and potentially more effective scams, underscoring the need for updated regulations.

The proposal includes mandatory disclosure of AI use at the start of calls, subject to consumer consent, provisions to protect AI applications that assist consumers with disabilities, and improvements to the FCC’s robocall mitigation database. These measures could impact industries relying on automated communication systems, including marketing, customer service and political campaigning.

However, Francis sees potential benefits: “Swift adoption of the proposed FCC rules could favorably impact a business’s reputation and help establish a level of trust with their customers.

“Voice is historically the most trusted and regulated form of communication available, but the abundance of robocalls and scams consumers receive on a daily basis make many reluctant to answer their phones anymore. Consumers appreciate transparency, and businesses that embrace these changes could see a positive gain in customer satisfaction, trust and loyalty.”

Business Opportunities

The new regulations could also reshape the competitive landscape for AI communication services. Francis noted, “These changes create an opportunity for businesses offering AI communication services to differentiate themselves from their competitors by offering more innovative and personalized solutions that prioritize transparency and privacy while facilitating compliance.”

As AI technology evolves, these regulations attempt to balance innovation with consumer protection. Businesses must navigate these new requirements carefully, potentially leading to more transparent and ethical use of AI in customer communications.

The FCC now seeks public comment on the proposed rules, inviting input from businesses, consumers and other stakeholders before finalizing the regulations. While compliance may present challenges, it also offers opportunities for companies to build trust and loyalty in an AI-driven communication landscape.

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Optimizing Bank Relationships Challenges the Real-Time Treasury Executive

2024-08-14T01:34:01Z

A strong treasury department sees its banks not just as service providers, but as growth partners.

Against that backdrop, the digital transformation of the banking sector is increasingly reshaping — and enhancing — the operations of traditional treasury teams.

The global banking landscape has seen several changes in recent years. Regulatory reforms, the rise of FinTech and the accelerated digitization of financial services have all redefined how banks operate and interact with their corporate clients.

Traditional banking relationships, once characterized by face-to-face interactions and manual processes, are increasingly being replaced by digital platforms that offer treasurers real-time insights, automation and a broader range of financial products.

This shift has implications for the entire enterprise function.

An important part of treasury management has always been maintaining the optimal number of banking relationships. However, the definition of “optimal” is changing. In the past, having too many banking relationships could lead to inefficiencies, higher costs and complexity in managing multiple accounts and counterparties. Today, the concept of redundancy in banking relationships is being redefined to focus on strategic flexibility and resilience.

From real-time insights to intelligent cash flow forecasting and automated payments and reconciliations, the digitization of the banking landscape provides corporate treasurers — and their organizations — more opportunities to capture growth and mitigate uncertainty.

The Future of Enterprise Treasury Is Redundant — in a Good Way

Redundancy is no longer just about having backup banks in case of a counterparty failure. It’s about creating a network of banking partners that can provide different capabilities and services, which can be tapped into depending on market conditions, regulatory changes or business needs.

This approach allows treasury teams to diversify their risk, access a broader range of financial products, and ensure that they can continue to operate smoothly even if one banking partner faces difficulties.

Where treasurers once relied on a few banking partners for a limited set of services, they now have access to a wider array of banks, FinTech providers and digital financial products. This expanded ecosystem allows for greater flexibility and customization in how treasury functions manage liquidity, hedge risks and optimize working capital.

For instance, partnering with banks that specialize in different areas, such as trade finance, foreign exchange or digital payments, can help treasury teams optimize their operations and tap into growth opportunities.

“Many treasurers are thinking, ‘Well, how can I extract that last ounce of juice from my financial ecosystem?’” Ambrish Bansal, global head of Liquidity and Cash Concentration Products for the Citi Treasury and Trade Solutions business, told PYMNTS this month.

“I see the role of treasury becoming more central to [the enterprise’s] business strategy, to the growth strategy, to the expansion strategy — and quite frankly, to the sustainability strategy,” Bansal added. “The treasury team plays a pivotal role.”

From real-time payments and innovative settlement solutions to artificial intelligence-driven cash forecasting and supply chain financing platforms, treasurers now have access to tools that can enhance their ability to manage cash flows, mitigate risks and support business growth.

Treasurers today must be more agile in decision-making, Claudia Villasis-Wallraff, head of data driven treasury at Deutsche Bank, told PYMNTS in June.

“Companies need to adopt new technology,” she said. “And with this, I not only mean adopting API connectivity, but also cloud functions and artificial intelligence.”

“Shareholders and the C-level are going to start asking more and requesting more from their treasury teams,” she added.

Looking ahead, the ability to create operational cash flow forecasting without manual intervention will be a game changer for treasury teams, she said. This automation can streamline treasury operations, allowing treasurers to focus on more strategic tasks.

One of the most impactful innovations across the corporate back office has been the rise of real-time treasury management systems. These platforms integrate with multiple banking partners and financial products, providing treasurers with real-time visibility into their cash positions across accounts, currencies and regions. By using real-time data, treasurers can make more informed decisions, optimize liquidity management, and work to reduce the cost of borrowing.

With this knowledge at their fingertips, forward-thinking treasurers will be expected to act as strategic advisors to their organizations, using their insights into the financial markets and their understanding of the company’s financial needs to drive growth and operational efficiency.

This view is supported by the latest PYMNTS Intelligence, which found that 77% of treasurers said at least one department in their organization would benefit from closer collaboration with them.

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Sage Expands AP Automation Product to Businesses Worldwide

2024-08-14T02:09:01Z

Business management software firm Sage is expanding its AP automation offering.

The company, which makes accounting, financial, HR and payroll products for small and medium-sized businesses (SMBs), announced the expansion Tuesday (Aug. 13) as part of a series of enhancements and updates for customers of its Sage Intacct offering.

“As part of this major expansion, Sage Intacct is rolling out AP Automation globally,” the company said in a news release.

“In the US, businesses are already processing over 10,000 bills per month using this innovative tool, which utilizes AI to halve the time taken for accounts payable processes while saving organizations over $100,000 per year.”

According to the release, AP Automation streamlines financial workflows by automatically creating draft bills from uploaded documents, and spotting issues such as duplicates, while reducing data entry efforts and costs.

Dan Miller, executive vice president of Sage’s financials and ERP division, said the company is the first mid-market solution offering AP automation outside the U.S.

“What’s more, our ongoing global expansion and the achievement of significant certifications, showcases our commitment to providing globally compliant, secure, and robust financial solutions that meet the diverse needs of businesses everywhere,” Miller said.

Sage is using artificial intelligence (AI)-powered accounts payable (AP) automation at a time when, as noted here last month, AP is “being recognized for its potential to become a growth engine for businesses.”

But as Melissa Johnson, head of operations at Ottimate, told PYMNTS, many companies are still relying on outdated and fragmented systems, leading to inefficiencies, as well as the increased risk of errors and fraud.

“First and foremost, eliminating that manual data entry is key. It’s expensive, probably more expensive than companies realize, as well as being error prone, inefficient, and having a high risk of fraud,” Johnson said.

“A lot of finance leaders are unfamiliar with the latest AP automation technologies,” she added. “They might have looked at the technology a few years ago and found it not quite ready. But the landscape has changed dramatically, and those who adopt automation often don’t look back.”

At the same time, adhering to a “less is more” philosophy can help companies move closer to unlocking growth via their AP functions. PYMNTS Intelligence data has found that nearly 60% of large firms are using at least five different AP systems, “a setup that is far from ideal.”

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FTC Offers Support to Epic Games in Battle With Google

2024-08-13T19:52:07Z

The FTC has offered support to Epic Games in that company’s legal battle with Google.

The Federal Trade Commission (FTC) said Tuesday (Aug. 13) that it had filed an amicus brief on behalf of Epic in the case, outlining how a federal judge should consider potential remedies when determining relief following a ruling that found Google liable for illegal monopolization.

Epic in April proposed that a judge should require Google to allow for more competition in the distribution of apps on its Android mobile platform. This came after a jury determined in 2023 that Google had abused its power as a gatekeeper for apps for the platform.

Epic wants the judge to require the Google Play Store to allow distribution by other, third-party app stores for six years, to block Google’s dealmaking with device makers that prevents the preloading of other app stores and to stop Google from barring apps from informing users of other, out-of-app purchasing options.

“In its amicus brief, the FTC encourages the court to use its broad power to order a remedy that stops the illegal conduct, prevents its recurrence, and restores competition,” the commission said in a news release.

The brief also argues for injunctive relief that restores lost competition “in a forward-looking way” and makes sure a monopolist reap benefits obtained through the antitrust violation.

“Looking forward in cases like Epic v. Google often requires the consideration of network effects, data feedback loops, and other key features of digital markets,” the FTC said. “This could help ensure that potential competitors can overcome the advantages established digital platforms often gain, which include network effects and data incumbency.”

The brief comes days after Google achieved a victory in another antitrust case, with a federal judge dismissing a lawsuit that had accused the tech giant of unlawfully dominating web search on smartphones.

U.S. District Judge Rita Lin found the plaintiffs had not provided enough evidence showing harm from Google’s dominance of the market, but said they could file an amended suit by Sept. 9, pointing to a Washington, D.C., court’s ruling in a separate lawsuit earlier this month which found that Google had created an illegal monopoly over search engines. Google has denied the allegations in both suits.

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Google Unveils New Gemini Live AI-Powered Assistant for Mobile Devices

2024-08-13T19:48:17Z

Google unveiled an artificial intelligence (AI)-powered assistant for use on mobile devices.

The new Gemini Live became available in English to Gemini Advanced subscribers on Android phones on Tuesday (Aug. 13) and will be expanded to iOS devices and more languages in the coming weeks, the company said in a Tuesday blog post.

“Gemini Live is a mobile conversational experience that lets you have free-flowing conversations with Gemini,” Sissie Hsaio, vice president and general manager, Gemini experiences and Google Assistant, said in the post.

With this AI assistant, users can interrupt in mid-sentence to ask for additional details, pause a conversation and come back to it later, and keep talking with it in the background or when the phone is locked, Hsaio added.

Google will also make Gemini connect with more Google apps and tools, according to the post. The company will launch extensions for Keep, Tasks, Utilities, Calendar and expanded features on YouTube Music in the coming weeks.

Because Gemini is fully integrated into Android, users can access it at any time, no matter what else they’re doing on their phone, per the post. It can also read the screen and interact with apps like Gmail and Google Messages.

With the user’s permission, Gemini can access their relevant personal data and add it to its own knowledge in order to provide the help the user needs, Google said in another Tuesday blog post.

“For example, Gemini can help create a daily workout routine based on your personal trainer’s email, or use your resume in Google Drive to write a work bio,” Sameer Samat, president, Android Ecosystem, said in the post. “Only Gemini can do all of this with a secure, all-in-one approach that doesn’t require hand-off to a third-party AI provider you may not know or trust.”

It was reported Monday (Aug. 12) that generative AI features have created an opportunity for tech companies to boost consumer interest in smartphones and encourage them to update their devices more frequently.

In addition, with its latest Pixel smartphones, Google is making a more aggressive push into the consumer device market, Bloomberg reported.

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