Generative AI, exemplified by ChatGPT, is remodeling the retail trade by enhancing buyer experiences and streamlining processes. However, companies must handle challenges similar to data privateness, algorithm bias, job displacement, and buyer trust. Embracing Generative AI and prioritizing moral practices, data safety, and innovation will shape the future of retail. China’s TikTok agreed on Monday to revive its e-commerce arm, TikTok Shop, by investing $840 million to buy most of Indonesia’s tech conglomerate GoTo’s e-commerce unit, Tokopedia. The purchase seems to allow TikTok to restart its online shopping business in Southeast Asia’s largest economic system. It provides a variety of merchandise, including clothes, electronics, and household items.
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