"That pretty much sums up a lot of the online chatter about the new ChatGPT feature, which is called Instant Checkout. From a financial standpoint, it does make sense that OpenAI would move into online shopping. For one thing, millions of people - all potential shoppers - already use ChatGPT to compare products. And most importantly, OpenAI spent $5 billion last year - while only raking in $3.7 billion in revenue. So yeah: the company needs money, and fast."
"Through this new feature, OpenAI makes money via extracting fees from each transaction made through Instant Checkout, which activates in the chat if a user asks a question such as "best gifts for dads under $100." In response, the chat window populates with the "most relevant products from across the web," reads an OpenAI blog post. "Product results are organic and unsponsored, ranked purely on relevance to the user," the post reads."
OpenAI launched Instant Checkout to allow users to buy items directly from retailers inside ChatGPT. The feature triggers when a user asks product-related questions and populates the chat with products ranked for relevance. OpenAI will extract transaction fees from merchants for purchases made through the chat. The company reported $5 billion in spending last year and $3.7 billion in revenue, creating urgency to increase income. Instant Checkout is initially available to American Etsy sellers and will expand to platforms such as Shopify and Spanx. OpenAI states product results are organic and unsponsored, and ChatGPT acts as an AI agent passing information securely between user and merchant.
Read at Futurism
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