16:32:47 EDT Sat 18 May 2024
Enter Symbol
or Name
USA
CA



Shopify Inc
Symbol SHOP
Shares Issued 1,201,620,262
Close 2023-07-26 C$ 85.40
Market Cap C$ 102,618,370,375
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Globe says Shopify jumps on AI bandwagon in big way

2023-07-27 06:54 ET - In the News

The Globe and Mail reports in its Thursday edition that Shopify is going all in on artificial intelligence, launching a suite of new AI products for the businesses that pay for its e-commerce platform. The Globe's Temur Durrani writes that the company is also automating its own labour force. At a semi-annual on-line product showcase Wednesday, dubbed Shopify Editions, Ottawa-based Shopify positioned several new tools as important steps in a direction that chief executive officer Tobias Lütke had called "the dawn of the AI era" in a recent note to employees. A new AI feature called Sidekick will allow Shopify merchants to perform administrative tasks and tackle creative challenges, such as responding to customer inquiries or helping out with marketing. Earlier this month, when Mr. Lütke released a teaser video for Sidekick, his short clip went viral on Twitter, gaining traction among many retailers. As Shopify announces new AI tools for its merchants, the company is also undergoing a rapid transition as an organization itself, automating several tasks, such as translation and customer services. Many people who work at Shopify have been worried about losing their jobs because of AI-induced redundancies.

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