Source: CNBC
Summary
Shopify reported that AI-driven traffic and orders to its stores tripled year over year in Q2. The company claims that AI is not cannibalizing search traffic, unlike its impact on publishers. Shopify’s CEO, Tobi Lütke, stated that AI is driving new customers to its platform. The company’s Q2 earnings report showed a 15% increase in revenue. Shopify’s success with AI-driven traffic is attributed to its investments in machine learning and natural language processing.
Our Reading
The launch follows a familiar script.
Shopify’s AI-driven traffic and orders tripled, because who doesn’t love a good “AI-driven” label? The company’s CEO, Tobi Lütke, seems thrilled about AI bringing new customers to the platform. We’ve heard this story before, and it usually ends with “we’re still figuring it out.” Shopify’s Q2 earnings report was a success, but let’s see how long this “AI-driven” growth lasts. Meanwhile, publishers are still trying to recover from Google’s latest update.
Author: Evan Null
