Selloff or Market Correction? Either Way, Here's What to Do NextSee Overvalued Stocks

AI startup Perplexity adds shopping features as search competition tightens

Published 2024-11-18, 04:31 p/m
© Reuters. FILE PHOTO: Perplexity AI logo is seen in this illustration taken January 4, 2024. REUTERS/Dado Ruvic/Illustration/File Photo
AMZN
-
NVDA
-
SHOP
-
SNAP
-

(Reuters) - Artificial intelligence search startup Perplexity on Monday launched a shopping hub to attract users, in a bid to beef up its platform as it attempts to take on Alphabet-owned Google (NASDAQ:GOOGL)'s dominance in the search engine space.

The firm, backed by Amazon (NASDAQ:AMZN) founder Jeff Bezos and leading AI chipmaker Nvidia (NASDAQ:NVDA), will give users product cards showing relevant items in response to questions related to shopping.

Each card provides product details in a visual format, the company said.

The new feature is powered by platform integrations including Shopify (TSX:SHOP), which gives access to recent and relevant information on products from businesses on the Canadian e-commerce platform globally that ship to the United States.

E-commerce platforms have focused on employing more AI-powered tools in an effort to pull in more merchants.

Perplexity's online shopping-focused rollout includes 'Snap (NYSE:SNAP) to Shop' - a visual search tool that shows products based on users' photos of an item.

The features are first launching in the United States and will later expand to other markets, the timeline for which was not specified.

Perplexity is also introducing a 'Merchant Program' to allow retailers to share product information with the company.

© Reuters. FILE PHOTO: Perplexity AI logo is seen in this illustration taken January 4, 2024. REUTERS/Dado Ruvic/Illustration/File Photo

The startup is raising new investment that would value it at $9 billion, Reuters had reported earlier in November.

Perplexity has been looking to expand its offerings, with OpenAI now a direct competitor after the generative AI pioneer added a set of new search functions to ChatGPT.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.