Thursday, November 14, 2024

AI Retail Race Heats Up as Shopify, Amazon and Google Launch New Tools | PYMNTS.com

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Tech players are positioning themselves in artificial intelligence-powered retail, with Coveo adding personalization tools to Shopify Plus stores and Amazon founder Jeff Bezos investing $400 million in Physical Intelligence’s dexterous robots.

Google’s camera search tool now handles 20 billion monthly queries while its security team warns of rising AI vulnerabilities in commerce.

AI-Powered Shopping Gets Boost as Coveo Teams Up With Shopify

Coveo’s new partnership with Shopify Plus is bringing advanced AI personalization to online merchants, helping them compete with retail giants like Amazon.

The integration enables real-time customization of search results and product recommendations based on customer behavior, without requiring extensive technical resources.

Industry experts say such AI partnerships are becoming essential for eCommerce success, as platforms race to deliver personalized shopping experiences that can convert and retain customers.

Bezos Backs $400 Million Bet on Robots That Handle Objects Like Humans

Physical Intelligence secured $400 million in funding from Jeff Bezos and other investors to revolutionize how robots interact with objects.

The startup’s pi-zero software aims to give machines human-like dexterity for tasks from folding laundry to bagging groceries.

The investment, valuing the company at $2 billion, comes as major retailers like Amazon and Walmart accelerate automation efforts amid labor shortages and rising operational costs.

Google Pushes Camera Search as Next Big Shopping Revolution

Google is betting that cameras, not keyboards, will drive the future of online shopping.

The tech giant’s Lens tool now processes 20 billion searches monthly, with shopping queries making up 20% of traffic.

New AI features let users instantly see product details and prices by photographing items, while “Circle to Search” enables shopping directly from videos and social media without switching apps.

Google Security Chief Warns of AI-Powered Cyber Threats

Google Cloud Chief Information Security Officer Phil Venables is urging companies to overhaul their cybersecurity practices as AI creates unprecedented vulnerabilities.

Traditional security measures are becoming obsolete against sophisticated AI-powered attacks, forcing businesses to implement new defenses from data sanitization to “circuit breakers” for harmful AI outputs. While these protections require investment, experts say AI tools could ultimately save billions by preventing online fraud before it happens.

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