E-commerce platform Cafe24 is showing strong performance. The unveiling of Google’s next-generation large language model (LLM)-based artificial intelligence (AI) called ‘Gemini’ appears to be influencing the stock price with heightened expectations.
As of 11:19 AM on the 8th, Cafe24 is trading at 30,650 KRW, up 16.10% from the previous day.
On the 5th (local time), Google held an online press conference for major global media reporters to reveal Gemini’s performance and various metrics. Starting from the 6th, Gemini will be integrated into Google’s chatbot Bard and made available worldwide.
After OpenAI, which had been leading by unveiling new models and services last November, temporarily faltered due to internal conflicts, Google seized the opportunity to launch a new model. Gemini is designed as a ‘multimodal AI’ capable of recognizing images, speaking and listening via voice, and even coding. Multimodal refers to interacting through various modes such as visual and auditory, enabling communication not only through text but also images, voice, and video.
Google described Gemini as “the first model to surpass the human expert score of 89.8%.” OpenAI’s GPT-4 recorded 86.4%.
Earlier, on the 5th, Cafe24 announced that it had secured an investment of 26 billion KRW from Google. Cafe24 explained, “This investment is aimed at expanding our closely cooperating YouTube Shopping partnership,” adding, “We are working closely with Google and its affiliates as business partners in commerce, advertising, and other fields.”
Cafe24 emphasized that this investment will enable them to provide users with an enhanced 'video commerce' experience, allowing shopping while watching videos.
Cafe24 CEO Jaeseok Lee said, “Video is a very important part of how Korean users shop online,” and added, “This investment will serve as an opportunity to strengthen our ongoing cooperative relationship with YouTube Shopping.”
Researcher Seonghwan Choi from ResearchAlum explained, “Cafe24 is an e-commerce platform-building company with a business model that can grow alongside its clients,” noting, “They have secured a customer base of over 2 million.” He added, “They are currently selling 15 types of AI solutions necessary for automating mall operations, including marketing automation, detailed page optimization, review management, and size recommendation.”
Cafe24 is developing AI recommendation algorithms for YouTube Shopping integration and analyzing user behavior data. They are also building a user profile and shopping history management system for personalized product recommendations.
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