Zone’s Rianna Mitchell handpicks and shares the five best news stories on digital trends, experiences and technologies…
1. London’s Tube gets ultrafast
Ultrafast 5G signal has officially arrived on London Underground, levelling up from its previous 4G network. Mobile network operator EE has deployed 5G connectivity on the Tube so its customers can enjoy high-speed coverage, faster downloads, and quality streaming.
The move is another lucrative avenue for TfL and will assist operational teams by providing enhanced connectivity. Currently live at stations Archway, Tufnell Park, and Notting Hill Gate, EE plans to launch mobile coverage across the entire London Underground network by the end of 2024.
2. The UK plans robust crypto regulation
The UK government initiated plans for ‘robust’ regulation of the cryptocurrency industry, a pivotal moment in shaping its future. The proposal aims to manage the industry risks after seeing scandals, companies crash, and customers lose a substantial amount of money.
The Treasury want to protect consumers by ensuring ‘robust, transparent, and fair standards’. New regulations will ensure customer assets are reimbursed in the event of a crypto business collapse as well as enhanced data reporting, measures against ‘pump and dump’, and clearly defined rules on promoting crypto assets.
3. The virtual future of retail
Emperia has raised over £10m of growth capital to bring retail into the metaverse. The virtual reality (VR) platform offers merchants the technology to create virtual stores as part of their effort to blend the accessibility of online shopping with the real-world retail experience.
CEO Dogadkina believes e-commerce on 2D websites lacks the customer journey and the storytelling brands seek. The additional funding will expand the team, create the SaaS platform for the digital storefront and enhance the possibilities of the data suite that drives it.
4. Online shoppers want to pay their way
UK online shoppers have voted ‘preferred payment method’ as the most crucial for a positive e-commerce experience. A study from DECTA revealed over 49% of online consumers are most likely to abandon the purchase if their preferred payment method is unavailable.
Payment speed was the second most important feature for customer experience, while insurance was another top-rated factor, according to 54% of respondents. Web usability researcher Baymard Institute reported that $260 billion of lost orders are recoverable annually through a simple and convenient checkout flow and design.
5. OpenAI launches ChatGPT Plus
OpenAI is piloting ChatGPT Plus in the US, a $20 monthly subscription service. Subscribers get to use the AI chatbot during peak times when free users have to wait, and experience faster response times and priority access to new features.
The AI research firm will send invitations to those on its waiting list and plan to expand the rollout to other countries and regions in the future. However, OpenAI will continue to grant free access to the platform, where paid users will help expand its reach to a wider audience.
