OpenAI has launched Chat GPT search.
Speaker AAccording to CNBC, OpenAI on Thursday launched ChatGPT search, positioning the company to better compete with search engines like Google, Microsoft, Bing and perplexity.
Speaker AIn July, OpenAI announced it was beta testing a prototype of the search engine called Search GPT and now it's officially rolled the product into ChatGPT.
Speaker AOpenAI says users can now quote search in a more natural, intuitive way, end quote and ask follow up questions, quote just like you would in a conversation, end quote.
Speaker AThe search model is a fine tuned version of OpenAI's most powerful AI model yet, GPT4O and is fueled in part by third party search providers and content provided by news industry partners.
Speaker AChris, are you buying or selling ChatGPT search?
Speaker BOh, and I'm, I'm, I'm buying, I'm buying this in a big way.
Speaker BIn fact, I'm like, I'm, I've, I've jumped so far in the deep end of the pool, you can't even see my bald head.
Speaker BAnd honestly, because I think this is 100 going to change the way we shop online.
Speaker BKeep in mind too, Ann.
Speaker AYeah.
Speaker BYes, 100.
Speaker BI really, I'm, I'm really buying this one.
Speaker BHard hook, line and sinker.
Speaker BBecause we are, we're only one week into the release of this, like barely a week and I can already see the potential.
Speaker BI tried it yesterday.
Speaker BI don't know if you saw my post on LinkedIn, but I did, I tried.
Speaker BI need, I need a new winter coat, right?
Speaker BAnd so, so I started using it just to play around with it and I'm like, basically like say, you know what, I live in Minneapolis.
Speaker BI want a winter coat for under a certain amount of dollars.
Speaker BCreate a matrix for me that, you know, compares all the quotes that I should be looking at and, and gives me the characteristic breakdown of what code has what, and put it in a chart for me and let me know what I should do.
Speaker BAnd it did it and it was pretty cool.
Speaker BNow, now granted there's still a lot of things that need to come together, particularly on the data side.
Speaker BLike the model's only as good as the data.
Speaker BWhich retailers, if you're listening, get your data right if you want to win in this new search landscape.
Speaker BBut that's one, you know, that's one thing.
Speaker BAnd then you got to figure out how to get commerce conducted off it, get images.
Speaker BSo the user interface still needs to take shape.
Speaker BBut man, and I'm, I'm so excited about this.
Speaker BLike I'm, I'm Almost like Jim in American Pie if I'm not too careful.
Speaker BBut it's super, super cool.
Speaker BAnd Google is going to have to start adapting their experience fast to counter this because I was on Google trying to do the same thing and it's, it was not nearly as easy.
Speaker BI know they're thinking about it.
Speaker BIn fact I got some texts from, from some Googleites yesterday after they saw my post.
Speaker BThe, you know, talking about all the things that need to happen to make this happen.
Speaker BWhich is, which is really cool to think about and gets my mind going because but man the, the, the shots have been fired on this and holy cow is my opinion in terms of, of where this goes next and, and we're going to see it through all angles.
Speaker BWe're going to see it on you know, through the search engines, we're going to see it online through the retailers own sites.
Speaker BLike it's coming and it is a better way to look for products.
Speaker BLike I'm curious for you, you're in the home furnishing space right now because you're moving.
Speaker BWouldn't this be advantageous for you then having to go through the list of preset filters that limit what you want and the language with which you can use to describe the things you're looking for?
Speaker BI don't know but I'm curious what you think.
Speaker AI think we're looking at this in a couple of different ways.
Speaker AI think on the Google side of things Google does have the product imagery, they have the shopping experience.
Speaker AI think where Google still needs to improve is in the like you said like not every question that you query with Google has the, the natural language response yet like you're getting from chat GPT.
Speaker ABut I also tried the search GPT function and I think like that still has a long way to come.
Speaker ALike so many more prompts in there to like get it out to get, get the export that you would want and I think that already comes naturally to people going to Google or Google Properties to search for product already.
Speaker ASo I think it's going to be like a real race ultimately ending in like the consumer getting a so much a much simpler search process and search changing significantly in how we search for things within the next year.
Speaker AEven like that's what I think is so exciting.
Speaker AI think like by you know the time we're at shop talk in the spring or you're like, or even like going into the summer, I think things are going the shopping experience for the average consumer in the US is going to look so different and I think my biggest question you called out earlier is how do we see the retailer investments then shift in 2025 to support the investment in product data so that their products can be served up in these new ways?
Speaker AAnd it's, it's.
Speaker AYou're already behind retailers.
Speaker ALike, this is where I think you need to put a lot of focus and investment as we're headed into this year.
Speaker BYeah.
Speaker BAnd my hunch, my hunch is it won't, like, we won't see retailers invest in this in 2025.
Speaker BIt'll be like a 26, 27, 28 investment horizon.
Speaker BBut I have no idea.
Speaker BBut the other point too, and like, you brought this up on a webinar we did recently.
Speaker BLike, I got thinking about the possibility of ad insertion within these Nash natural language queries that you're making to like, those are going to convert like crazy.
Speaker BLike, hey, I want this, you know, with this characteristics, I want it delivered to me now.
Speaker BWho can give it to me?
Speaker BWhat, what's the best price you can give me?
Speaker BAnd man, how the technology starts to change around that whole idea too.
Speaker BIt's just.
Speaker BOh, man.
Speaker AWell, Google's already doing that.
Speaker AGoogle's already doing that right now with their new shopping tools.
Speaker AAnd it is unbelievable.
Speaker ALike, I started doing that, like you said, with home furnishings and like taking a picture of a chair and then seeing that across the board.
Speaker ALike, you're already seeing the deals that you can add the, like, they have the discount codes in some of the pictures.
Speaker AIt's like, this is just insane, the amount of data I now have at my fingertips as a consumer.
Speaker BSo, yeah, if you kind of already know what you want.
Speaker BLike, Google is crushing it right now with all their new rollouts and their new innovations they put particularly around pricing.
Speaker BSo, yeah, I mean, it's just, it's, it's a cool time to be in retail because it's going to change a lot here over the next 10 years.