ChatGPT and Retail: Reality, Hype, What's Next, and How to Prepare

Tech Insider

ChatGPT, a language model developed by OpenAI, has fast become one of the biggest buzzwords in retail. The model, launched as a prototype in November 2022, is the latest iteration of the AI technology promising to revolutionize ecommerce. But retailers remain cautious over its potential pitfalls, especially concerning direct interactions with customers. So where exactly will ChatGPT, and generative AI broadly, have the greatest impact in retail, and what are the most and least promising use cases for the technology?

Heinz offered the fisherman who survived 24 days at sea a new boat with GPS, but he didn't get enough money to buy one with a navigation system

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Collage of Elvis Francois side by side with his new boat
Elvis Francois says he stills needs more funds to fit out his boat.

Elvis Francois

Walmart is using AI to negotiate prices with suppliers, report says — and the suppliers are loving it

Tech Insider : Technology
Blue Walmart store-front
Walmart is using AI to negotiate deals with equipment suppliers.

AP

Documents related to Babe Ruth's sale to the Yankees sell for $300K— more than triple what the Red Sox got for him 103 years ago

Tech Insider : Sports
A black and white image of Babe Ruth in a New York Yankees uniform.
Documents connected to the sale of Babe Ruth to the Yankees just sold for more than $300,000 at auction.

MPI/Getty Images

This AI-generated ad for a fake pizza restaurant shows the tech still has a long way to go

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A screenshot from the AI-generated ad for a fake pizza restaurant.
A screenshot from the AI-generated ad for a fake pizza restaurant.

@pizzalater

I went to a doomed Bed Bath & Beyond in my city and found stocked shelves, no deep discounts and few signs that the end was near

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Coupons that are no longer accepted at a Bed Bath & Beyond store
Bed Bath & Beyond said it wouldn't accept coupons on April 26, but some locations did anyway.

Dominick Reuter/Insider

America's largest jewelry company says ring sales are on the decline as fewer people get engaged

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Woman with red nails hugs man
Engagements have slowed after pandemic lockdowns, according to the largest jeweler in the US.

Bryan Miguel/Getty Images

Chipotle says it has seen some of its best digital sales after launching its TikTok-inspired Fajita Quesadilla

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Chipotle Fajita Quesadilla
Chipotle's Fajita Quesadilla.

Chipotle

Royal fans slam Ticketmaster for a confusing ballot system that has left them without tickets to King Charles III's coronation concert

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A Union Jack flag with a symbol for the Coronation overlaid: King Charles III on a navy oval accented by gold
A flag for King Charles III's coronation.

Finnbarr Webster/Getty Images

Chase Gopuff credits can save you $10 a month per credit card on the rapid delivery service — here's how to use them

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