Shopify CEO Calls AI the Biggest Shift Since the Internet
Shopify CEO: AI is the Greatest Transformation Since the Internet
E-commerce platform Shopify has made a bold declaration during its Q3 earnings call: artificial intelligence (AI) represents the most significant technological shift since the advent of the internet. The company reported staggering growth metrics, with traffic from AI tools increasing sevenfold since January and purchases attributed to AI search soaring elevenfold.
The AI Advantage: Data and Agility
Shopify President Harley Finkelstein highlighted two key competitive advantages in the AI era:
- Massive data reserves: Millions of merchants and billions of transactions provide unparalleled insights.
- Agile "founder mode" mindset: Enables rapid product development and deployment.
The company's internal AI tool, Scout, exemplifies this approach. Scout analyzes hundreds of millions of merchant feedback points to inform product decisions. "AI at Shopify isn't just a feature—it's the core engine driving everything we build," Finkelstein emphasized.
Strategic Partnerships and AI Commerce
Shopify is aggressively expanding its AI agent commerce model through partnerships with:
- OpenAI (creator of ChatGPT)
- Perplexity
- Microsoft Copilot
The goal? To create seamless, chat-based shopping experiences. "We're laying the tracks for AI agent commerce," Finkelstein stated, noting that 64% of shoppers may use AI during purchases.
Financial Performance: Mixed Results
While Shopify's Q3 revenue grew 32% year-over-year to $2.84 billion (exceeding expectations), operating income of $434 million fell slightly short of forecasts ($437 million). This discrepancy led to post-announcement stock pressure.
Key Points:
- 7x increase in traffic from AI tools since January 2025
- 11x surge in orders attributed to AI search
- Scout and other internal AI tools drive product decisions
- Partnerships with OpenAI, Perplexity, and Microsoft expand chat-based shopping
- 64% of consumers open to using AI while shopping
