In early 2020, Jamie Iannone assumed leadership at eBay as the company faced pressure from activist investors and declining relevance in the e-commerce space. Since then, eBay has strategically embraced artificial intelligence (AI) to revive its position amidst fierce competition from Amazon and others. Recent innovations include five new AI capabilities, such as AI-powered delivery estimates and a shopping chatbot, bolstered by a partnership with OpenAI. Despite its market share dropping from over 7% in 2016 to less than 3% today, eBay’s shares have appreciated by 75% since 2020. The introduction of tools like the “Great Listing” feature simplifies the selling process for users, while the “eBay.ai” tool enhances item searches. As of the last quarter, eBay reported a 10% year-over-year increase in gross merchandise value (GMV). While focusing on AI, the company prioritizes maintaining human interaction, essential for its unique marketplace experience.
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