Tech Daily Report

Shopify merchants seek AI boost for key sales decisions

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 49 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 23%
  • Publisher: 66%

Technology Technology Headlines News

Technology Technology Latest News,Technology Technology Headlines

NEW YORK : A week after e-commerce giant Amazon said it is giving its sellers new generative artificial intelligence advertising tools this holiday season, Shopify has to prove to investors that its AI products will spark growth when it reports results on Thursday.

Wall Street is expecting it to show revenue growth of 22.38 per cent to $1.67 billion compared to last year, according to estimates from LSEG.

In July, the company announced Shopify Magic, a suite of AI-powered product descriptions, virtual assistants, blog posting and email campaign tools for merchants after completing its divestiture from its logistics arm in May. As part of the AI suite, Shopify launched AI app Sidekick, which helps sellers decide on inventory, promotions and marketing, lessening their dependence on third-party widgets.

Michael Morton, an analyst at MoffettNathanson, said he wants Shopify to map out its plan to gain more enterprise customers like Meta and boots-maker Hunter, but does not believe the e-commerce platform's AI tools will be a near-term selling point in grabbing larger clients. Shopify President Harley Finkelstein said during the company's second-quarter call that bringing larger merchants to the platform increased sales volumes for the Shopify's loan, payment and point-of-sales tools and led to higher"cross-sell" volumes.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in TECHNOLOGY

Technology Technology Latest News, Technology Technology Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

New York looks to legislate use of artificial intelligenceNew York City Mayor Eric Adams recently unveiled an action plan on the responsible use of innovative AI technology. However, he has been criticised for his own use of AI, with campaign groups concerned about how it can be used to mislead voters or spread misinformation.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Potential risks of AI use in the spotlight, even as US sets out guidelines in harnessing its full potentialThe setting of guidelines on the use of artificial intelligence (AI) is gaining pace in the US, with President Joe Biden issuing a new executive order, and New York City becoming the first major city to unveil an AI action plan.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »