Wednesday, November 20, 2024

Google’s Revamped Platform Brings AI Insights, Price Comparisons to In-Store and Online Retail | PYMNTS.com

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Google introduced new tools to elevate online and in-store shopping experiences through artificial intelligence-powered features in Google Lens, Google Maps and Google Pay.

Following the launch of a revamped Google Shopping platform in October, the company is applying its AI technology to improve the in-store shopping process, allowing consumers to access product details, reviews and competitive pricing with a photo taken through Google Lens.

Starting Tuesday (Nov. 19), customers in the United States can use Lens to find insights on beauty products, toys and electronics at participating stores that share their local inventory with Google. Additionally, Google Maps will allow users to search for specific products, like clothing or home goods, and find nearby stores with relevant inventory in the coming weeks.

“Lens is used for nearly 20 billion visual searches every month, and 20% of those searches are shopping-focused,” Lilian Rincon, vice president of consumer shopping product for Google Shopping, wrote in a company blog post Tuesday (Nov. 19). “…Google Lens can quickly show you product insights tailored to the store you’re in. Just snap a photo to find product information, similar products in stock, whether a store’s price is competitive and shopper reviews.”

The update is driven by advancements in AI image recognition technology, powered by the Shopping Graph’s over 45 billion product listings, real-time inventory data from various retailers, and Gemini models.

“Just tap the Lens icon in your search bar to try these in-store updates,” Rincon wrote in the post.

More BNPL Options

Alongside these in-store enhancements, Google Pay is responding to rising demand for flexible payment options by expanding its buy now, pay later (BNPL) services to include Afterpay, with Klarna on the way.

“It’s our priority to keep your information safe — however you choose to pay,” Rincon wrote in the post. “One way we do this is through virtual cards, which conceal your American Express, Capital One or Citi card number during online transactions, protecting you from potential fraud. Starting this month, we’re expanding this feature to Discover cardholders in the U.S. who can set up and use a virtual card from their Chrome or Android device. We’re always working to protect consumers and businesses from fraud, which is forecasted to grow substantially in the coming years.”

The PYMNTS Intelligence report “Getting to Know You: How AI Is Shaping the Future of Shopping” found that consumer demand for AI-powered shopping experiences is rising, with 51% of shoppers expressing interest in AI features.

Personalized Shopping

Last month, Google redesigned its Google Shopping platform, which offers a personalized homepage that suggests products and videos based on user preferences, alongside tools for price comparison, product insights and tracking. A dedicated deals page is tailored to individual users, helping them find discounts that match their shopping habits.

Google officials emphasized the role of AI in personalizing the shopping experience, enabling dynamic, visually rich searches and tailored recommendations. The platform also includes AI-generated briefs, such as specific product suggestions based on climate or location, to help users make quicker, more informed decisions. While marked as “experimental,” Google encourages user feedback to refine the service.

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