Since OpenAI’s release of ChatGPT to the public in late 2022, it’s become more and more common for people to turn to the AI bot for answers. Ordinary people have begun asking AI for relationship advice, homework answers, efficiency ideas or casual conversations. Companies have also looked at how they can leverage the convenience craze to their benefit.
Read Next: 6 Things You Must Do When Your Savings Reach $50,000
Explore More: The ChatGPT Grocery Shopping Hack That Saves Retirees $100 or More per Month
Recently, Walmart announced it was teaming up with OpenAI to make shopping easier for consumers. In the past, customers could go to Walmart’s website, enter an item they were looking for into a search bar and then browse a plethora of results. The partnership will allow them to prompt ChatGPT about what they’re looking for. ChatGPT will then give suggestions, and customers can make purchases without leaving the session.
This large shift in how e-commerce operates may sound convenient, but it has both good and bad aspects. Here’s what you need to know.
How It Helps You
Here are some of the upsides to Walmart and other companies pairing with AI chatbots.
1. Better Shopping Experience
Being able to describe the item you’re looking for and getting suggested results is a game-changer. It makes online shopping much more convenient, as consumers spend less time on Walmart’s website. The ability to make purchases directly through ChatGPT’s Instant Checkout also makes it easier to make purchases quickly.
Find Out: 8 Frugal Habits You Should Never Quit, According to Frugal Living Expert Austin Williams
2. Predictive Recommendations
As you use ChatGPT, the AI gains a better understanding of your wants and needs. Walmart announced that the shopping experience will pivot from a reactive to a proactive approach. In this new type of shopping, ChatGPT will give you item recommendations in anticipation of your needs. This can help you prepare for upcoming events and restock groceries before realizing you need to. Likewise, if you’re planning on making recipes or home improvement projects, ChatGPT can help you determine which ingredients or materials you’ll need and let you purchase them immediately.
Potential Problems
While there is plenty to be excited about in the Walmart and OpenAI partnership, there are some downsides, too.
1. Privacy Concerns
Allowing an AI bot to give you personalized suggestions for products you should buy means you’ll be giving it access to a lot of personal information. ChatGPT will have access to your purchase history, item preferences and payment data. This means those who use the service are putting their faith in Walmart and ChatGPT to keep their sensitive information secure. If you remain logged into your ChatGPT account and someone else is able to use it or it gets hacked, it can result in many purchases you didn’t authorize.
2. Trust Issues
Another concern is that ChatGPT may make recommendations based on Walmart’s interests rather than the user’s. For example, if you ask ChatGPT for a recommendation for the best TV under $500, it could recommend a Walmart-brand TV instead of a higher-quality one that meets your price requirements. If you ask for a cheap power bank, ChatGPT may not recommend the least expensive option and instead suggest a slightly more expensive one so you spend more.
Another potential issue with the partnership is ChatGPT hallucinations, which are mistakes and false statements that AI makes. There is no guarantee that all the AI recommendations you receive will be accurate. If you make a purchase only to find out that the item isn’t what you wanted, you may be less willing to use ChatGPT the next time.
Effects on the Future of Shopping
With an increase in ChatGPT and AI chatbot usage, more stores and companies will get on board with this new type of online shopping. Already, Etsy, an online marketplace, and Shopify, an e-commerce platform, are integrating with ChatGPT to make purchasing easier for customers.
Amazon is also launching a new AI model called Nova Act to help shoppers make purchases. As AI technology continues to improve, this new method of online shopping will become increasingly common.
More From GOBankingRates
- Score Big on 6 Walmart Black Friday Deals for Middle-Class Shoppers
- Trump's $2K Dividend: What Low-Income Americans Should Expect
- 5 Clever Ways Retirees Are Earning Up to $1K Per Month From Home
- 9 Low-Effort Ways to Make Passive Income (You Can Start This Week)
This article originally appeared on GOBankingRates.com: 2 Ways ChatGPT Will Help You Save Money at Walmart (and 2 Glitches To Watch For)
