Empowering E-commerce: Shopify Introduces AI Store Management

0:00What can 160 years of experience teach you about the future? When it comes to protecting what matters, Pacific Life provides life insurance, retirement income, and employee benefits for people and businesses building a more confident tomorrow. Strategies rooted in strength and backed by experience. Ask a financial professional how Pacific Life can help you today. Pacific Life Insurance Company, Omaha, Nebraska, and in New York. Pacific Life and Annuity, Phoenix, Arizona. Today on the podcast, I want to talk about some really cool new product features that are coming into AI. And the reason I think these are important, number one, in their respective industries, but also in the overall market at large with software and SaaS.

0:43So the first thing I think is really cool is the fact that Shopify has just announced some new AI features that I think are very, very interesting. It was a tweet by Toby Lutke, who is the CEO and founder of Shopify. Really awesome entrepreneur, really awesome guy. And essentially what they have released is a new quote-unquote AI sidekick. It's all called AI sidekick. And essentially this thing is on the side of your Shopify store, and it helps you to do things with your Shopify store to build it out. Now, a lot of integrations I've seen are people adding these little chatbots that can help answer questions about things but i think where the real power comes in is when the chatbot or sidekick or whatever you want to call it on these softwares actually can implement the changes you ask for in real time so beyond just saying like how do you do x y and z and then it gives you like some sort of explainer i think that's relatively useless i think what's really useful is when you can tell it you know um in their example they had it say remove the snowboards and make my store look like a surf shop and then it said sure thing let's update your theme to feel more like a surf shop it updated the whole theme to feel more like a surf shop because of you know seasonal changes or whatever and it actually was making changes to the Shopify store live now it has a couple other really interesting integrations that I saw and a couple other interesting use cases but one of those was the fact that it said you know the the person running the store said I've had a drop in sales from March till now why and it's like a snowboard store and it said the dip in sales is probably due to minimal snow these are summer months in many reasons so it's natural for sales to decline it then pulled up a report of the overall sales showing the decline then the owner of the store said put everything on sale it said all right let's get that sale started it then pulls up a card which says you know summer sale um automatic discount 10 off all products and you can preview that and apply it if you'd like um it then said you know add my new surf collection to the home page at which point it was able to add a surf collection to the home page um and then of course they later on made the whole theme of the store look like a surf shop instead and then it said write new content for my hero banner focused on selling surfboards is able to do that it made a banner that said ride the waves in style has like this little wave and someone's surfing so it's like essentially over the course of a few messages on a chat bot you're able to figure out what's wrong with your store um completely change your uh change your direction with it change all the content on there it's pulling up all these different pictures of wetsuits and surfboards and all that kind of stuff um and so you can kind of change the direction of your store live uh with this new sidekick from shopify so overall i think that's a really really cool use case a powerful use case of ai integrating into a software where it's not just chatting with you and talking to you, but it's actually being able to implement what you're requesting.

3:43So I think kudos to Shopify, really great feature. The other really cool tool that I wanted to talk about today is the fact that Google's new notes app has just launched. And previously this was called Google Tailwind. They've changed the name to notebook LM. And this new tool is from Google. It is a new note taking app that is trained on your documents. So Google's AI-backed note-taking tool just launched in a select number of, essentially a select number of US users are being able to test this out and try it out right now. But essentially Google is trying to give users their own personal AI trained on their data and notes, which I think is really, really interesting, right?

4:26If it knows every work report you've written, every school report you've written, every, you know, kind of those documents and things that you're working on. So it's able to give you your own AI. And I think this is really smart. I think this is a big play from Google. Of course, ChatGPT right now is the biggest chat bot that people are using to kind of answer questions and help them get stuff done. But I think Google has an advantage here in the sense that they own all of your emails on Gmail or a large majority of the world's and all of your documents that are free that you uploaded. They have all that data on you.

4:59So if you wanted, you know, like if they wanted to make Google Bard more powerful than ChatGPT, they can actually make it right in your tone, in your style based off of all your historical writings from emails to documents. So I think this is an absolutely critical play that almost no one else has the same capability because no one else has the same access to your data. and so if you know chadgbt wanted to copy this feature it would be very very hard for them to do that um without you know obviously getting access to large amounts of your data in addition to this i think there's features that include automatic summarization of large documents and um the the conversion of video outlines into scripts uh they have citations integrated which is so interesting you could probably ask it like a question about something in one of your documents and when it pulls up all the information from your documents, it'll have citations.

5:50Google does acknowledge that the model might currently produce incorrect results, so that is definitely possible. But if you're interested in this new Notebook LM, they have a waitlist that's accessible on Google Labs, so you can jump on that. I think this is really powerful from Google, regardless of what the technology can do. Like at this very moment, if it's a full-fledged Google-barred integration, you know taking taking over Chad Gpt inevitably it will get there like you just kind of have to look at the direction of these AI tools and you can see that Google's going to be able to make some powerful changes in the future.