After soaring growth during the pandemic, Shopify has since seen a significant slowdown in revenue.
Shopify opened up its AI-powered tools to more users on Monday (24 June) in the hopes of attracting more businesses to its e-commerce platform.
The AI-powered tools include its Sidekick assistant, which provides enterprises with insight into customer behaviour and other queries.
Customers can also now access Shopify’s AI-powered image generation tool to edit and enhance promotional materials.
The Canada-based e-commerce company saw significant growth during the pandemic as people turned to creating online businesses and consumers were forced to go shop online.
However, the company was forecast its slowest quarterly revenue growth in two years in May, impacted by economic uncertainty and a sharp slowdown in consumer spending.
Shopify describes itself as a complete commerce platform that enables anyone to start, manage and grow a business.
The company provides a platform to build an online store, manage sales, market to customers, and accept payments in digital and physical locations.
Shopify President Harley Finkelstein said the company had released over 150 updates to create a more integrated platform for merchants to scale their business.
In May, Shopify secured a legal victory after a US federal court overturned a jury’s decision that required the company to pay $40m for patent infringement, Reuters reported.
Express Mobile filed the lawsuit in 2019 alleging that Shopify’s website-building tools infringed on its patents related to mobile content delivery.
Judge Richard Andrews ruled in favour of Shopify, citing insufficient evidence to support the jury’s original verdict, according to Reuters.
Source from Verdict
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