In an effort to draw more customers to its e-commerce platform and accelerate revenue development, Shopify opened up access to more users on Monday to its artificial intelligence-powered products, such as the Sidekick assistant and image-generation function.

The Canada-based company said at its biennial products event that customers may now use its editing tool on their cellphones to enhance photos used in promotional materials, including emails. Previously, the capability could only be used to alter online product photos.

Additionally, Shopify has made Sidekick, a chatbot that assists retailers with inquiries and provides insights into consumer behaviour, more accessible. Sidekick has been in testing since the previous year and has served over 2,000 users.

According to Shopify President Harley Finkelstein, the firm has made over 150 modifications to build a more integrated platform that will allow merchants to scale their businesses in a uniform and seamless manner.

After projecting its worst quarterly sales growth in two years, the firm said last month that it would spend in marketing. This news sent its shares down to a six-month low and erased C$25.25 billion from its market worth in a single day.

Shopify’s growth surged during the pandemic as people were compelled to shop online due to stay-at-home orders. However, in recent years, the company’s primary user base of small and medium-sized enterprises has been negatively impacted by rising inflation and unpredictable consumer spending.

From November 2021 until the present, its market value has decreased by almost half to C$112.67 billion ($82.22 billion).

On the other hand, other experts view the current dip as a chance to purchase.

According to J.P. Morgan analysts, “SHOP’s R&D investment dwarfs peers’, culminating in an unrivalled array of features and capabilities that keep the company on the cutting edge.” The company has only reached 11% of its $60 billion total serviceable market.

(Adapted from Reuters.com)