We just watched the opening keynote from OpenAI’s inaugural DevDay event, where they announced some incredibly exciting new AI capabilities. As someone who works in retail A.I., We wanted to share the key announcements and how they could impact retailers:

– GPT-4 Turbo – This new AI system is faster, cheaper, and more capable than previous versions. It can now process longer conversational context, follow instructions better, and more accurately generate content like code, text, images, and voice. This could allow retailers to build even more natural conversational commerce experiences.

– GPTs – These are customized versions of ChatGPT focused on specific use cases. Retailers could create GPTs to provide personalized shopping assistance or customer service bots.

– New Multimodal Capabilities – OpenAI added capabilities like analyzing images, generating captions, and text-to-speech. Retailers could leverage this to automatically add alt text for web images, generate product descriptions, or even bring conversational experiences to shelf displays!

– Assistants API – This makes it easier for developers to build customized AI assistants into any app. Retailers should look at options like AI-powered shopping advisors, virtual stylists, or intelligent customer service bots.

– Lower Pricing – OpenAI cut prices on API access by up to 3X, making it more accessible to build these innovations. This lowers the barrier to experiment.

This is an incredibly exciting time in AI. Retailers should be thinking about how to leverage these new capabilities to create more personalized, intuitive and efficient experiences throughout the customer journey. The leaders will be those who embrace AI now to delight customers and stand out from the competition.

What do you think? How could your retail brand use these new AI capabilities from OpenAI? We’d love to hear your thoughts!