Shopify is embracing AI-powered shopping agents, labeling AI as a groundbreaking technology comparable to the internet. In its Q3 earnings call, the e-commerce platform reported a 7x increase in traffic from AI tools and an 11x rise in AI-driven purchases since January 2023. Shopify President Harley Finkelstein highlighted the company’s strengths in leveraging vast merchant data and adopting a rapid product development approach. The internal AI tool, Scout, enhances decision-making by analyzing extensive merchant feedback. Collaborating with leaders like OpenAI, Microsoft Copilot, and Perplexity, Shopify aims to integrate shopping seamlessly into AI conversations. A recent survey indicates that 64% of consumers are open to using AI for purchases. While Shopify focuses on building AI connections, it remains adaptable to evolving commerce trends, emphasizing a future of “agentic commerce.” In financials, Shopify reported a 32% revenue increase to $2.84 billion, with profits of $264 million, despite missing operating income estimates.
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