g-f(2)1651 Harnessing Generative AI: A New Era for Digital Commerce

 

genioux Fact post by Fernando Machuca and Bing Chatbot

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Introduction:

In the digital commerce landscape, generative AI is emerging as a powerful tool to streamline operations and enhance user experience. The MIT Sloan Management Review article “Micro Utility With Gen AI: Shopify’s Miqdad Jaffer” provides an insightful look into how Shopify, a leading e-commerce platform, is leveraging this technology to empower entrepreneurs.

genioux GK Nugget:

"Generative AI, when integrated responsibly, can significantly enhance the efficiency of digital commerce platforms, enabling entrepreneurs to focus more on their core business and less on administrative tasks." — Fernando Machuca and Bing Chatbot

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genioux Foundational Fact:

Shopify, under the leadership of Miqdad Jaffer, has successfully integrated generative AI into its platform. This integration has not only streamlined administrative tasks such as writing product descriptions and customizing sites but also ensured that users remain in control. The result is a more efficient and user-friendly platform that empowers entrepreneurs to get their products to market faster.

The 10 most relevant genioux Facts:

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1. Shopify is a digital commerce platform that enables entrepreneurs to set up e-commerce sites where they can list and sell their products.
2. Miqdad Jaffer is the director of product for Shopify.
3. Shopify has integrated generative AI into its platform to help entrepreneurs complete administrative tasks more quickly.
4. Generative AI can eliminate mundane tasks and help users become more productive.
5. Trust is a crucial aspect of the relationship between users and AI assistants.
6. Shopify ensures that users always remain in control, even as it enhances its offerings with generative AI technology.
7. Before joining Shopify, Jaffer was the director of product management for the mobile consumer marketplace app Flipp.
8. Jaffer has more than 15 years of product development and oversight experience.
9. Jaffer is responsible for the oversight and development of Shopify’s AI-powered offerings.
10. Jaffer has overseen the launch of Shopify Magic, its suite of AI-powered tools, and Shop.AI, an AI-powered shopping assistant.

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Conclusion:

The integration of generative AI into digital commerce platforms like Shopify represents a significant advancement in the field. By automating administrative tasks and enhancing user experience, this technology is empowering entrepreneurs to focus on what they do best: innovating and growing their businesses. As we move forward, the responsible and user-centric application of AI will continue to play a pivotal role in shaping the future of digital commerce.

REFERENCE

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Sam Ransbotham and Shervin Khodabandeh, Micro Utility With Gen AI: Shopify’s Miqdad Jaffer,  MIT Sloan Management Review, ME, MYSELF, AND AI podcast, EPISODE 804, November 21, 2023.

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Bing Chatbot: Summary

The MIT Sloan Management Review article "Micro Utility With Gen AI: Shopify’s Miqdad Jaffer" discusses how Shopify, a digital commerce platform, is using generative AI to help entrepreneurs get their products to market faster¹. Miqdad Jaffer, the director of product for Shopify, explains that the platform not only enables a fast and secure online checkout experience but also allows business owners to set up e-commerce sites where they can list and sell their products¹⁴. 

With the integration of generative AI, Shopify now offers merchants the ability to complete administrative tasks much more quickly, including writing product descriptions and customizing their sites¹. A key aspect of enhancing Shopify’s offerings with generative AI technology is ensuring that users always remain in control¹. Jaffer shares Shopify’s approach to achieving this while incorporating cutting-edge tools to help entrepreneurs start, operate, and grow their businesses more efficiently¹.

Before joining Shopify, Jaffer was the director of product management for the mobile consumer marketplace app Flipp. He has more than 15 years of product development and oversight experience¹. He is responsible for the oversight and development of the company’s AI-powered offerings and has overseen the launch of Shopify Magic, its suite of AI-powered tools, and Shop.AI, an AI-powered shopping assistant¹.

Source: Conversation with Bing, 11/28/2023

(1) Micro Utility With Gen AI: Shopify’s Miqdad Jaffer. https://sloanreview.mit.edu/audio/micro-utility-with-gen-ai-shopifys-miqdad-jaffer/.

(2) MIT Sloan Management Review. https://sloanreview.mit.edu/audio/micro-utility-with-gen-ai-shopifys-miqdad-jaffer/feed/.

(3) MIT Sloan Management Review. https://sloanreview.mit.edu/.

(4) Topics Customers - MIT Sloan Management Review. https://sloanreview.mit.edu/topic/customers/.

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Me, Myself, and AI" podcast

"Me, Myself, and AI" is a podcast on artificial intelligence in business, co-hosted by Sam Ransbotham from Boston College and Shervin Khodabandeh from BCG¹². The podcast seeks to understand why only 10% of companies succeed with AI¹²³. 

In each episode, the hosts talk to leaders who have achieved significant wins with AI in their companies, aiming to learn from their experiences¹²³. The podcast covers a wide range of industries and applications of AI, from manufacturing and driver experience in the automotive industry², to the use of AI in public sector and its impact on citizens worldwide².

The podcast is available on all major platforms and new episodes are released regularly¹. It's a valuable resource for anyone interested in understanding the practical applications of AI in business and the strategies that lead to success¹²³.

Source: Conversation with Bing, 10/24/2023

(1) Me, Myself, and AI - MIT Sloan Management Review. https://sloanreview.mit.edu/audio-series/me-myself-and-ai/.

(2) ‎Me, Myself, and AI on Apple Podcasts. https://podcasts.apple.com/us/podcast/me-myself-and-ai/id1533115958.

(3) Get Podcast Updates on Me, Myself, and AI - MIT Sloan Management Review. https://sloanreview.mit.edu/podcast-mitsmr-bcg-me-myself-and-ai/.

ABOUT THE HOSTS

Sam Ransbotham

Sam Ransbotham is a Professor of Analytics at the Boston College, Carroll School of Management¹²³. He earned a bachelor’s degree in chemical engineering, an MBA, and a PhD, all from the Georgia Institute of Technology¹²³. He teaches “Machine Learning and Artificial Intelligence” and “Analytics in Practice”¹²³.

In addition to his teaching role, Sam serves as a Senior Editor at Information Systems Research, an Associate Editor at Management Science, and an Academic Contributing Editor at the MIT Sloan Management Review¹. He co-hosts the “Me, Myself, and AI” podcast, which is available on all major platforms¹².

During the academic year 2022-2023, he is a visiting scholar at Harvard Business School². He has been recognized for his analytics-based research in security with an NSF CAREER Award from the National Science Foundation¹. He was also honored with an INFORMS ISS Sandy Slaughter Early Career Award¹.

Before earning his doctorate, Sam was the founder and principal of a software company with a globally diverse client list¹. His research interests include IT security, artificial intelligence, and the strategic use of IT¹.

Source: Conversation with Bing, 10/24/2023

(1) Sam Ransbotham - Carroll School of Management - Boston College. https://www.bc.edu/bc-web/schools/carroll-school/faculty-research/faculty-directory/sam-ransbotham.html.

(2) Sam Ransbotham. https://www.samransbotham.com/.

(3) Sam Ransbotham - Faculty & Research - Harvard Business School. https://www.hbs.edu/faculty/Pages/profile.aspx?facId=657597&view=featured-work.

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Shervin Khodabandeh

Shervin Khodabandeh is a Senior Partner and Managing Director at Boston Consulting Group (BCG), and the co-leader of BCG GAMMA, BCG's AI practice, in North America¹². He has nearly 20 years of experience in driving business impact from AI and digital analytics¹. He has worked with premier brands across the globe in consumer, retail, financial services, travel, energy, and healthcare¹².

Shervin is an expert in organization-wide analytics transformation. He has helped numerous companies devise their analytics strategy, drive growth and margin through analytics solutions, and build strong internal teams and capabilities¹. Prior to joining BCG, Shervin helped co-found a pure play big data analytics firm, Opera Solutions, where he was the global head of consulting¹².

He holds a PhD in Chemical Engineering from the California Institute of Technology¹. He has two patents for engineering inventions and has published multiple articles². Shervin is also a TED speaker and co-hosts the "Me, Myself, and AI" podcast².

Source: Conversation with Bing, 10/24/2023

(1) Shervin Khodabandeh - Boston Consulting Group. https://www.bcg.com/about/people/experts/shervin-khodabandeh.

(2) Shervin Khodabandeh | Speaker | TED. https://www.ted.com/speakers/shervin_khodabandeh?ref=resnovae.io.

(3) Shervin Khodabandeh - Muck Rack. https://muckrack.com/shervin-khodabandeh.

(4) Learning From and With AI: Duolingo’s Zan Gilani. https://sloanreview.mit.edu/audio/learning-from-and-with-ai-duolingos-zan-gilani/.

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Source: Conversation with Bing, 11/27/2023

(1) g-f New World - Genioux.com Corporation. https://gnxc.com/g-f-new-world.

(2) g-f(2)959 THE NEW WORLD (2/23/2022), geniouxfacts, The "g-f story" of .... https://blog.geniouxfacts.com/2022/02/g-f2959-new-world-2232022-geniouxfacts.html.

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Source: Conversation with Bing, 11/27/2023

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Source: Conversation with Bing, 11/27/2023

(1) “genioux facts”: The online program on "MASTERING THE BIG PICTURE OF .... https://blog.geniouxfacts.com/2023/09/g-f21310-genioux-ai-powered-chatbot.html.

(2) genioux facts (g-f) - Genioux.com Corporation. https://gnxc.com/genioux-facts-g-f.

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The categorization and citation of the genioux Fact post

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Categorization

This genioux Fact post is classified as Bombshell Knowledge which means: The game-changer that reshapes your perspective, leaving you exclaiming, "Wow, I had no idea!"

Type: Bombshell Knowledge, Free Speech

g-f(2)1651: The Juice of Golden Knowledge

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References

“genioux facts”: The online program on "MASTERING THE BIG PICTURE OF THE DIGITAL AGE”, g-f(2)1651, Fernando Machuca and Bing Chatbot,  November 28, 2023, Genioux.com Corporation.

The genioux facts program has established a robust foundation of over 1650 Big Picture of the Digital Age posts [g-f(2)1 - g-f(2)1650].