From Nasdaq:

Alphabet’s Google is launching AI solutions to expand its reach in the retail industry. These generative AI tools aim to improve shoppers’ experiences, boost customer reach and ultimately sales for the retailers. This strategic move aligns with the National Retail Federation’s upcoming conference and signals Google’s ambition to solidify its presence in the industry.

Google’s new generative AI tools include a chatbot called Conversational Commerce Solution and an LLM feature to improve product searches. These tools aim to enhance product recommendations, customer service systems and product cataloging processes for retailers. They also introduced the Google Distributed Cloud Edge hardware tool specifically designed to reduce IT costs for small businesses. This is part of Alphabet’s plan to strengthen its position among retailers.

Alphabet is stepping up its AI-backed retail capabilities which will pose competition to e-commerce players like Amazon, eBay and Shopify. Google is capitalizing on generative AI tools to attract retailers and gain momentum. Amazon has unveiled generative AI tools to aid sellers in product descriptions, eBay offers an AI tool for marketplace sellers, while Shopify launched the AI tool, Shopify Magic.

Investors have a chance to target huge gains as the electric vehicle revolution expands and the demand for lithium batteries increases 889%. Allied Market Research report projects the global generative AI market to hit $191.8 billion by 2032, and Alphabet’s strong focus on AI tools is expected to capitalize on this growth. This indicates the strong potential for growth in the generative AI space.

Alphabet has unveiled AI tools created to aid online buyers in virtual clothes shopping. These tools, powered by generative AI, allow users to try on clothes virtually in different sizes. The tools generate lifelike images, addressing the “cold start” issue experienced by first-time sellers yet also removing the need for extensive information. This shows how Google’s AI tools are designed to improve customer shopping experiences.

Alphabet’s unveiling of generative AI tools in the retail sector, as well as its growing focus on generative AI, show a positive direction for the company. These developments are in line with the growing prospects of the generative AI market. With the potential for significant growth, more investors are keeping a close watch on the opportunities in the retail and AI markets.



Read more: Alphabet (GOOGL) Boosts Focus on Retailers With New AI Tools