Microsoft introduces AI-powered shopping tools, expanding boundaries for businesses!

Published: June 30, 2023

min read

Following the phenomenal reach of ChatGPT, generative AI has seen unprecedented development and adoption in the tech world. Every big head in the industry, from Google and Microsoft to Adobe and Salesforce, began to incorporate new AI features into their platforms and unveil new AI products.

Particularly in the search engine world, after Microsoft integrated ChatGPT with its search engine, Bing, the race got fierce. This innovative step by Microsoft drew a lot of attention from the audience, which urged the king of the search engine business, Google, to reveal its own AI chatbot, Bard.

And the race is still ongoing.

Microsoft recently unveiled a number of new artificial intelligence-powered shopping tools for its Bing search platform and Edge browser.

Here are the new AI-based capabilities included by Microsoft:

Buying Guide:

The 'Buying Guide' instructs visitors on what to search for in all categories, provides product recommendations, and displays the details of various, similar items alongside each other in a smart compare table, allowing visitors to swiftly contrast options without having to navigate to multiple websites.

This Bing tool is now accessible in the United States and will gradually expand to other markets, whereas in Edge, the Buying Guide is now available worldwide.

Review Summaries:

When shopping for a product, the 'Review Summaries' tool shows what factors to consider. When users find a product they prefer, they can use Bing Chat in Edge to summarise what others are discussing about it online.

This tool has begun to be distributed globally.

Price match:

This tool will assist users in requesting a price match from a seller, even if the price has dropped. For this, the company collaborated with a number of US retailers that already have price-matching policies in place.

It will also assist users in ensuring that they are purchasing at the right time and place. Furthermore, Edge allows users to use Bing Chat to effortlessly redeem coupons and cashback when buying online.

How do the new capabilities impact businesses?

Without any doubt, the infusion of AI into search engines is changing the way people use search engines to get information online. Indeed, this technology is significant for the search industry, which has seen no similar changes in recent years.

Although, on the one hand, the AI incorporation in search engines invariably panics businesses and marketing teams as it reduces the need for users to click links and land on their websites, the newly introduced AI capabilities of Microsoft look promising and beneficial for both businesses and users.

As the AI-generated buying guides can attract more potential customers to the search results page, it will pose a huge opportunity for businesses to increase their visibility and amp up the exposure of their products or services. This way, it can help brands drive more traffic to their websites. Besides, if the business is recommended in such a way, it can positively impact the brand’s reputation and image.
People only want the best deals. Thus, online shoppers prefer researching and reading multiple reviews about the products they choose before making a buying decision. However, it is undeniable that the detailed online analysis is a time-consuming process. And, with Microsoft’s new review summaries and price match options, things have been made simple, quick, and easy for users. Which means the chances are higher for users to embrace these capabilities of Microsoft, which, in turn, increases the chances for businesses to attract their high-value audiences.
As the new AI-powered shopping tools can also provide valuable data insights to businesses, it widens the possibilities for marketing teams to understand their target audiences’ preferences, market trends, and popular product categories. Correspondingly, they can use the insights gained to refine their marketing strategies, improve their products, and adapt to changing customer demands.
By using the price match tool, businesses can easily monitor competitors' prices in real-time and adjust their prices accordingly to beat their rivals. This way, they can easily optimize their pricing strategies, attract price-sensitive customers, and maximize their revenue potential.

Having said that, brands must also recognise the growing importance of having a strong digital media presence and encouraging more people to talk positively about their products online. It will only help brands stay competitive, improve customer satisfaction, and make the most of these advanced AI tools in this digital age.

Author

Jasmine Jackson

Jasmine is a social media maven with a talent for building engaged communities. She's a natural storyteller and has a way of making complex ideas accessible to everyone. In her spare time, she enjoys reading, and exploring new cuisines.