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· Posted on
February 21, 2024

Snap, Crackle, Bot: Snapchat's new AI chatbot gives recommendations... but you'll need to pay to play

Snap is another company that is rolling out features powered by OpenAI's GPT tech.

What's the key learning?

  • Snap released an AI-enabled chatbot that can generate birthday gift ideas, dinner recipes, and "even write a haiku about cheese for your cheddar-obsessed pal".
  • The catch is that the chatbot is available only to Snapchat Plus members.
  • When companies charge for boring perks like customer service, it becomes a very hard sell.

👉 Background: Snap is the social media app that was the very first to create disappearing/ephemeral photos. Since launch in 2012, Snap has grown to over 750 million monthly active users.

👉 What happened: Now, Snap, has released an AI-enabled chatbot. Yes, another company rolling out features powered by OpenAI's GPT technology.

👉 What else: Supposedly this AI Bot can generate birthday gift ideas, dinner recipes and “even write a haiku about cheese for your cheddar-obsessed pal”. But here's the catch: the chatbot is available only to Snapchat Plus members.

What's the key learning?

💡To justify charging for a service, it must have some standout features. Let’s be honest, when companies charge for boring perks like customer service (ahem Meta)... it becomes a very hard sell.

💡Another example is Twitter Blue, which gives you a blue tick.. And a few other small perks.. Ths service currently has around 300,000 subscribers on a total of 368 million monthly active users.

💡So Snap is clearly hoping My AI on Snapchat Plus will make its paid service a standout. And it kinda needs this baby to work, because social media companies are trying to make up for lost dollarydoos from poor ad revenue.

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All information contained in the Flux app, www.flux.finance, www.joinflux.com, app.flux.finance and any podcast of Flux Media Pty Ltd (ABN 27 639 804 345) is for education and entertainment purposes only. It is not intended as a substitute for professional financial, legal or tax advice. Flux Media Pty Ltd is the owner of the registered trade mark, 'What the Flux'. While we do our best to provide accurate information on the podcast, we accept no responsibility for any inaccuracies that may be communicated.
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