A significant number of Australian retailers (44%) are either investing in or planning to invest in artificial intelligence (AI) and automation, according to recent research conducted by Shopify. These technologies are being employed for various purposes, with the top five use cases being: improving employee experience, enhancing the customer online experience, predictive analytics, handling customer service inquiries, and content creation.
Australian businesses are implementing automation and AI in areas that consume more resources than necessary. Almost two-thirds (64%) of retailers plan to utilise automation technology to enhance employee experience and manage lower-value tasks. Furthermore, 40% of retailers are looking to adopt AI and automation in the next year to assist them in handling customer service inquiries, while 32% are considering these technologies for improving logistics and delivery processes.
To answer this demand and accelerate the innovative AI opportunities for retailers today, Shopify Founder and CEO, Tobi Lütke, provided a sneak peek into some of the AI product offerings that Shopify is working on. One of these offerings is Sidekick, a first-of-its-kind natural language interface that makes every user a power user. With Sidekick, merchants have an AI-powered digital assistant that will do everything from time-sucking administrative work to complex creative tasks.
As the first AI-enabled commerce assistant, Sidekick allows entrepreneurs to harness the power of AI to increase productivity, improve workflows, make smarter decisions, and dedicate more time to growing their businesses. Sidekick can comprehend and interpret questions or prompts, enabling business owners to generate new ideas or accomplish tasks using regular, everyday language.
“We’ve only just scratched the surface on AI’s real-world application for small businesses and entrepreneurs,” said James Johnson, Director of Technology Services & Enterprise, APAC at Shopify. “As entrepreneurs face new challenges everyday – often alone – doing more with less is critical to success and AI technology has the power to increase productivity, improve workflows and make smarter decisions without the need for a technical skillset. This kind of innovation is set to revolutionise what it means to run a small business, and support Australian retailers to get ahead.”
Business owners can ask clarifying questions or prompt Sidekick to shorten, rewrite or give feedback. It understands context in real-time, and can help people make smarter decisions that propel their business forward by simply asking things like “how to set up a discount for a holiday sale” to “help me segment my customers so I can better engage them in my marketing.”
As Australian retailers face mounting economic pressures, AI and automation have emerged as crucial tools for enhancing efficiency and doing more with less. Shopify merchant Vincent Lebon, Founder, CEO, and Designer, from Rollie Nation agrees that AI is a game changer, saying “I see AI as revolutionary as the internet. I think AI is going to play a huge, huge role in the future, whether that’s through material science, design, helping make more informed decisions and prediction analysis. I think, right now, people are looking at operational efficiencies, and that’s a very surface level aspect of what AI is going to provide.”
This unveiling marks the introduction of a new suite of AI tools offered by Shopify. On July 26th, Shopify will be announcing its 2023 Summer Editions, unlocking unprecedented capabilities for their merchants. These advancements aim to boost creativity and productivity among entrepreneurs, empowering them to scale their businesses while saving time and streamlining operations.