Mattel Teams Up with OpenAI to Create Innovative AI-Driven Toys

Mattel has announced a partnership with OpenAI to create generative AI-powered toys and games, marking a strategic effort to innovate within its famed brands like Barbie and Hot Wheels. The collaboration aims to combine Mattel’s extensive brand portfolio with OpenAI’s advanced AI capabilities to enhance product experiences while prioritizing safety and privacy. The first product is expected to launch later this year. This partnership comes as Mattel seeks to adapt to changing market conditions amid declining toy sales, which have prompted the company to explore diverse entertainment avenues, including film and mobile games, highlighted by the success of the recent “Barbie” movie. Additionally, Mattel plans to utilize OpenAI’s business tools, such as ChatGPT Enterprise, to boost productivity and creativity across its operations. Amid economic uncertainty, the company has suspended its financial guidance and plans to increase prices on some products to manage rising costs.

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