We met with 50 CIOs and IT leaders and they all share an interest in how they can take advantage of generative answering, while minimising the risks. While AI and machine learning have been leveraged by brands for more than a decade, GenAI has changed the rules of the game. Executives agree there are numerous challenges they must overcome in this race -– from security, privacy, evolving data landscape, and cost. But regardless of those considerations, the brands that apply GenAI effectively and securely, while maintaining accuracy as well as responsible and ethical implementations, will find that it may be the differentiator they need to outpace competition.

It’s all about innovation, and our more than a decade of experience in AI. We regularly add new features that enable our customers to deliver individualized, prescriptive, profitable and connected experiences that result in higher margins and revenues. In Q4, we announced five significant commerce specific enhancements to the Coveo Platform™ that strengthens our AI Search and Generative experience platform. We also announced that our generative answering capabilities are now open to commerce customers that want to join our early access program. Our goal is to help our customers deliver the best possible experiences that drive superior business outcomes.

The Coveo Platform empowers retail brands with the ability to deliver highly relevant, individualized experiences, without the need for high volumes of data. We believe GenAI is the next evolution of AI, which is why we’re now offering Coveo Relevance Generative Answering (CRGA) to provide scalable, secure and connected customer experiences with GenAI question-answering capability. Using GenAI in Commerce, we’re able to become an advisor to shoppers/buyers before their product discovery journey even starts, leveraging and understanding non-product content to seamlessly guide the shopper towards product discovery journey.

CRGA is a natural augmentation of Coveo’s AI models and can be injected to improve each touchpoint across the customer journey from early in the sales cycle to post-sales customer service.

A great example of a global retail brand we work with is Caleres, a global footwear company with a portfolio of brands including Famous Footwear, Sam Edelman, Naturalizer and more. Their search and discovery technology were not able to handle a complex catalog of more than 600,000 SKUs organized by color, size, width, and store availability. We partnered with Caleres to deliver better search and product discovery, and to help them complete the evolution of their ecommerce experience. Our platform is designed to handle complexity and volumes of data. Whether it’s a B2B or B2C brand, our platform can deliver the personalized experiences your customers expect.

Findability and personalization remain key in delivering superior shopping experiences and continue to pose the main challenge to businesses looking to enhance their customer journeys. If shoppers can’t find it, they can’t buy it. The main goal of search in commerce is to figure out the user’s intent as quickly and as accurately as possible. For this you need semantic search, unified personalization, powerful AI recommendation models, together with generative answering to guide shoppers through their customer journey. Companies need a spinal AI capability to survive and compete in today’s fast changing Commerce landscape.

I think that AI technology is only just starting to transform our world, and that includes the way we shop. Generative AI has emerged as a disruptive force and a rapidly evolving and transforming technology. Its applications for commerce may as well transform it as we know it, including how shoppers engage with a brand. At Coveo, we are an AI first company, and we really understand what it takes to gain the AI experience advantage. Our daily and continuous innovation in AI and its applications enables forward thinking enterprises and brands to gain from this advantage, adapt, grow, and outpace competition.