"Retail is becoming a major battleground in the artificial intelligence arms race. Since the introduction of ChatGPT in 2022, AI chatbots have had a meteoric rise in popularity. This year, more major retailers got in on the hype, unveiling plans to offer AI tools that can make shopping easier for consumers. They're investing time and money in partnering with AI companies like ChatGPT maker OpenAI, or building their own large language models to create shopping assistants or simplify the checkout process."
"eBay unveiled an AI-powered shopping agent in May that would personalize the shopping experience. The company said that the shopping agent would show up for customers throughout their shopping journey, either by reacting to a request or through in-line messaging on the page a user is visiting. "Our AI shopping agent has given buyers a new way to shop across our inventory, with personalized product picks and expert guidance based on their individual shopping preferences," CEO Jamie Iannone said on the company's October earnings call."
Major retailers are incorporating AI across shopping experiences by partnering with AI firms like OpenAI and by developing proprietary large language models. AI tools are being deployed for personalized product recommendations, checkout simplification, and customer service automation. Consumer adoption is rising; a PwC survey found more than half of respondents planned to use AI for price checks, trip planning, or writing messages during the holiday season. OpenAI offers Instant Checkout that enables searching and purchasing within chat. Companies such as eBay have launched AI shopping agents that appear during the buyer journey to provide personalized picks and guidance.
Read at Business Insider
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