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Shopify Inc. SHOP-T is dabbling with artificial intelligence by introducing a new product-description tool, as it joins a chorus of global companies striving to cash in on the buzz surrounding the fast-growing technology.

The new tool, dubbed “Shopify Magic,” will be part of the company’s e-commerce platform. It uses underlying technology similar to what powers ChatGPT, a generative AI application that has become popular since its launch late last year.

Shopify is positioning Magic as a way for businesses to quickly write descriptions for their products, and says other features are expected to be enhanced with the AI tool later this year. The Ottawa-based company provides stores in more than 170 countries with services to set up online.

“One of the most time-consuming activities for new merchants is preparing their store for launch. And one of the most important factors for a store’s early success lies in well-crafted product pages and descriptions,” Shopify stated in a blog post, as it also rolled out other new products this week.

Magic asks Shopify stores to input a minimum of two keywords, then automatically fills in a description for their product listing. Much like ChatGPT, Magic uses so-called large language models to do this, meaning it employs a computer program to distribute probability over large sequences of words then generates a result in real time based on its learnings.

Shopify says Magic will help businesses with showcasing a “consistent tone” throughout their online presence.

“Writer’s block is now a thing of the past,” the company said, adding that Magic will help its businesses rank higher in search engines and drive customer growth.

Shopify’s foray into AI follows other big tech companies such as Microsoft Corp., Alphabet Inc.’s Google and Alibaba Group which have jumped on the race to create such tools that may power virtual assistants, search engines, chatbots and writing aids. Even shares for smaller companies have surged, as retail investors flock to AI as a growth driver.

Still, many experts warn the AI hype cycle is creating expectations that may be far from reality.

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Tickers mentioned in this story

Study and track financial data on any traded entity: click to open the full quote page. Data updated as of 12/04/24 4:00pm EDT.

SymbolName% changeLast
SHOP-T
Shopify Inc
-1.49%96.43

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