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Most users gained access to Bing AI in February, while Google's chatbot Bard became publicly available only recently. Google released Bard's beta and plans further integrations with Search and other Google products, but currently, it trails behind Bing鈥攁n unusual position for Google to be in.

In February, Microsoft launched a chatbot-style interface run off OpenAI鈥檚 GPT-4 large language model and called it the new Bing. Google, already defending its share of the search advertising market against Amazon and TikTok, rushed to compete. Microsoft鈥檚 US search ad revenue growth will outpace Google鈥檚.

Employee-facing chatbots. Generative AI-powered chatbots can help human assistants become more efficient by quickly searching large databases for answers to FAQs and information on the status of claims or policy coverage.

Beyond chatbots: Chatbots and virtual assistants are the most flashy, public-facing examples of generative AI helping the financial services industry attain a new level of efficiency. But FIs are also using AI and machine learning in less-visible functions like marketing, designing the customer experience, and providing customer service.

Chatbots will undoubtedly influence search habits. How and to what extent is not yet apparent. But consumer behavior is evolving in other ways too. As consumers grow more likely to start their online shopping journeys on social networks, there are a few platforms to keep an eye on.

A powerful chatbot may be able to synthesize consumer data and suggest an appropriate solution, but it doesn鈥檛 explain to the customer why it鈥檚 the right solution. When automating a customer-facing experience, banks can increase customer engagement and satisfaction by incorporating educational comments along the way.

Among the working products are a chatbot that can write code, introducing AI to Google Earth, a music-search chatbot, a language-learning tool, an AI image generator, and a research assistant chatbot, among others.

Chatbots. One of the most promising and immediate use cases for retailers would be to incorporate generative AI into chatbots to provide faster, personalized, and engaging responses to customer inquiries. Product descriptions and categorization. Generative AI could automate new product descriptions and product categorization, thus lifting a huge manual burden for retailers.

Using plug-ins to power retailer-specific chatbots also unlocks retail media potential, allowing retailers to sell ads on their own generative AI chatbots. Publishers need to think creatively about revenues. Generative AI search poses a risk to publishers by putting answers atop results and disincentivizing users from clicking links back to their sites.

Nearly one-third of B2B marketers (31%) reported using AI for chatbots, coding, and design, per a November Sagefrog Marketing Group survey. In a January Ascend2 survey, personalization (38%), ad optimization (34%), and customer service chatbots (31%) ranked as the highest use cases for AI.

Shoppers could also ask genAI chatbot Wenwen for recommendations on the best deals available. China faces an uphill battle on the road to AI advances. Chinese tech companies aspire to be leaders in genAI, but the tightening of US sanctions on AI chip exports is presenting difficulties.

On the patient-facing side, AI chatbots are negatively affecting some users鈥� mental health. A Belgian man recently committed suicide after six weeks of chatting with an AI chatbot based on a variation of the open-source model GPT-J. The chatbot encouraged the suicide, according to the man鈥檚 widow and chat transcripts seen by reporters. What鈥檚 next?

So a lot of these companies are happening to go bit by bit, whether for a text generation, for a chatbot, for music generation to find a big enough database to train a model. And a lot of companies aren't being able to find that and they're taking routes they shouldn't and getting their hands slapped legally. I think that's one of the tough parts here.

Its chatbot-driven search may follow suit, while also potentially harming publishers by disincentivizing users from visiting websites. 2. Amazon. Not to be outdone by Microsoft and Google, Amazon released its AI tool, Bedrock, in mid-April.

It has also been innovating in this space with its Rufus chatbot and Prime comes with free and importantly fast shipping on top of all the other prime benefits like access to Prime Video. I don't think Perplexity will topple Amazon by any means, but I do think Perplexity has a massive opportunity here because Amazon is notoriously an awful user experience.

It鈥檚 also used Google Cloud鈥檚 conversational AI platform, Dialogflow, to build a chatbot for customer assistance. Morgan Stanley says it鈥檚 allowing businesses around the firm to run tests using open-source large language models.

Mehdi called the chatbot 鈥渕uch more powerful than ChatGPT'' and 鈥渃ustomized specifically for search.鈥� A revamped Bing homepage has a new layout with web results on the left and annotations on the right. Microsoft is also introducing two AI-powered features, "chat" and "compose," for its Edge browser.

Meta is waiting in the wings: Meta is developing its own genAI models, which are partially trained on data from its own platforms, to power its new Meta AI chatbot for WhatsApp, Messenger, and Instagram. In a somewhat surprising twist, Meta has integrated Microsoft鈥檚 Bing search engine into the chatbot.

Understand a buyer鈥檚 language and expectations based on how they write in chatbot conversations. Rephrase or rewrite responses specific to that buyer in their tone of voice. Example Use Cases:. Sephora鈥檚 Virtual Artist chatbot applies natural language processing (NLP) to understand customers' questions and provide personalized makeup recommendations.

Research shows it pays off: Websites using AI chatbots see 23% higher conversion rates than those without, according to Glassix. 鈥淐丑补迟产辞迟蝉 are a great use case because customer service has been broken for a long time,鈥� Kamikow said. 鈥淚 love that this is an area that has been enhanced immediately [by AI].鈥�. 2. Creating distinct shopping experiences.

This change is not unique to Google; other tech giants like Microsoft have also begun to monetize their AI chatbots. Yet the effectiveness of this strategy鈥攂oth from a user experience and a monetization perspective鈥攔emains to be seen.

Assess willingness to adopt chatbots. Encourage AI experimentation across the workforce. More like this:. Exclusive: Two-thirds of retailers expect to implement genAI in 2024. AI is reshaping the role of CMOs, their teams, and their companies. GenAI is making an impressive impact on the customer life cycle. Generative AI Chatbots in Retail (蘑菇AV subscription required).

Snap has first-mover advantage in the AI chatbot space. More than 150 million people have now used Snap鈥檚 generative AI (generative AI)-powered chatbot, My AI, according to internal data. The chatbot originally launched to Snapchat+ subscribers in February 2023, and Snap expanded access to all users globally in April. My AI is an advertising play.

AI chatbot capabilities are also a central component of the genAI offerings for retailers recently announced by Microsoft and Google Cloud. Efficiency gains: Employee-facing applications are also gaining traction, especially among retailers that want to experiment with the technology without rolling it out to consumers.