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If you are seeking new ways to increase your ROI on marketing with your commerce platform, or you may be an entrepreneur who wants to grow your team and be more efficient with your online business.
Talk Commerce with Brent W. Peterson draws stories from merchants, marketers, and entrepreneurs who share their experiences in the trenches to help you learn what works and what may not in your business.
Keep up with the current news on commerce platforms, marketing trends, and what is new in the entrepreneurial world. Episodes drop every Tuesday with the occasional bonus episodes.
You can check out our daily blog post and signup for our newsletter here https://talk-commerce.com
[00:21.5]
I'm isaac morey. Welcome to a special episode of talk commerce, filmed live at shop talk las vegas. Today we're going to be hearing from dan wagner, the CEO of resolve AI. Okay, to kick things off, we're here at Shop Talk Las Vegas.
[00:38.7]
Tell us your name and the company that you're with. Yeah, so my name is Dan Wagner and the company I run is Resolve AI. We are a, leader in agentic commerce, meaning that we provide technology to Ecommerce and call center interactions with consumers and the same thing for interactions with agents, which is technology or programming, programmable technology that's coming from ChatGPT or Siri or something.
[01:09.4]
Just to interrogate E commerce sites. Yeah, Agentic Commerce has really been the talk of the town here in Shop Talk for maybe a small or medium sized business who's just getting into this. They know they should be doing Agentic but they haven't started yet. What's your pitch to them?
[01:25.3]
How would you explain they need to do it right away? They need to do it immediately. And the reason they need to do it immediately is not just because people arriving at the site will have a better experience because we have this conversational engagement much richer. But much more importantly, the volume of traffic that those sites are going to get is going to go through the roof.
[01:43.2]
And the volume is because every time you and I go shopping on the web today we might go to 1, 2, 3 sites to interrogate Footlocker and Adidas and Nike if we're on a pair of running shoes. But if you are asking an agent, if you're asking Chat GPT to what running shoes, it's going to go and interrogate 300 sites or 500 sites.
[02:01.9]
Right. So by, by that very nature the volume of search activity that E commerce is going to see is going to go through the roof very fast. And if you're not able to support that volume, you're not going to be, you're not going to be able to send anything.
[02:17.6]
So people, well, not only that, you're going to be so overwhelmed by the volume that your site will fall down. And the other thing that will happen is that when a consumer goes to the site to buy something, they won't be able to buy because the site's not able to support the volume. So you need to get on it now.
[02:32.7]
I mean it really is a now thing because we've already seen 20% uplift in search activity last year and I think that that's just going to get really, really magnified over the next year or two. What does the process of preparing look like? It's not very challenging.
[02:50.3]
It depends obviously on the platform merchant is using. But you know, it's a, it's a few weeks of deployment, it's not a, it's not a two year deployment thing. Gotcha. Yeah. So there's a few notes that we had to ask you about and one is hallucinations.
[03:05.3]
How does this play into the, I mean, well, you can't have, you can't have hallucinations. Right. And you would have seen today I actually reposted on LinkedIn, you know that Walmart and OpenAI just broke down their five month deployment of OpenAI, as a, as an agent on Walmart.
[03:24.1]
And the reason for that is cited as hallucinations. Right. So OpenAI is not fit for purpose in providing solutions in this space because they make mistakes. And it's one thing to use ChatGPT where you're, the oversight, they make some mistake, you know, that's not quite correct and you're interacting.
[03:43.0]
And there's another thing to leave an agent operating 24, 7, 365 on your website selling to customers, making mistakes all the time, even if it makes one mistake every day, that's too much. Right. So, but it's doing a lot worse than that. So those technologies are not fit for purpose.
[03:58.7]
We spent nine years perfecting the problem, perfecting the solution to hallucinations. We have 30 patents on it and we really have solved it. So our solution is Fit for purpose, is designed for commerce. And you know, I don't think there's anybody else who's able to do this great today.
[04:16.1]
Yeah, yeah. So another topic that I wanted to ask you about is loyalty programs for Agentic. For agents. Yes. What does that look like? How does it work? So, the loyalty programs, the loyalty programs are not really for agents, they're for the consumer.
[04:31.8]
We bought a loyalty business about a month ago called Reward, that provides loyalty solutions to card schemes. So you know, use this credit card over that credit card and you'll get loyalty and reward, and it provides loyalty solutions to retailers and brands.
[04:47.4]
Right now we have a new payment method called Resolve Pay, which is a stablecoin, you know, a blockchain based payment method and we want to, to encourage consumers to adopt that payment method. So that's one reason and the other reason is of course that retailers and brands still need to promote to you that you should buy from them.
[05:07.4]
So even if you're using Bar an agent by ChatGPT, you say please check out Nike's products and let me know. You know, you'll still go to that site because you're getting value. Right? Yeah. So we've been hearing a lot about how consumers are changing the way that they even search for things semantically.
[05:25.1]
They're using longer, longer phrases, more conversational. Yes. Well that's, that's, that's good. Right, because that's you know that's a more natural way of shopping. When you go into a physical store you don't go black dress. Yeah. You know, you know, blue shoes, you know.
[05:41.4]
So and that's how we do it at the moment online. So the progression of a natural interaction with sales agents or salespeople, Gen AI salespeople is human nature.
[05:57.2]
Right. Human nature is to have a conversation like we are having now. Right. And so, so I think that's a very good thing. I think the old way of Ecommerce is dead. It's end of life and what we're doing and the new way will be conversational engagement, a richer experience, more informed purchase decisions as a result.
[06:17.1]
And that's all created by Gen AI. Great. Any other new features or launches that you guys have coming up at Resolve AI that you want to share with our audience? No, but I do want to talk just a little bit about this volume of increase. So we recognize that done, you know, tens of billions of interactions with customers in the last year and we think that's going to go to trillions of interactions because of the agents going off in multiplying the volume and the activity on commerce sites.
[06:56.0]
Now obviously we don't want to fall over, we don't want that issue to occur. So we've invested in a distributed database architecture in the blockchain that will support those growth. Now that's basically investing in the infrastructure to support this new way of agentic commerce.
[07:13.7]
I don't think anybody's really thinking about that the way that we are. And not only are we doing it to support our own customers but also we might deploy it, you know, make it available to other people to use this database architecture as they find stress in whatever business they're in outside of commerce and retail.
[07:29.9]
So we are really an infrastructure player for agentic commerce, not just a provider of products and services in the area. We see our as leading, the market and being ahead of the game and providing what's needed to support this very exciting new generation of engagement.
[07:45.7]
Very cool. I have a note from your team that you have the take that anytime someone makes it to page two. It's a personalization shortcoming. Yes. Could you talk about that a little bit? Well look, I think that, you know, I think that you should never have to go to page two because page one should give you just a number of items that are absolutely what you're looking for.
[08:08.9]
If I go into a physical store and I say I'm looking for a pair of trousers, salesperson says, well, you know, what sort of trousers you looking for? I'm looking for dark blue trousers, because I'm going to a wedding. You know, then he or she will bring out three or four smart looking trousers.
[08:26.9]
Right. If I go online and ask for a pair of trousers, I will get 500 items. You know, shorts, low waisters, jeans, casuals, you know, all sorts of things. Right. And I'm gonna have filter, filter, filter.
[08:42.1]
That's got to end. That's not the way. So the future of E commerce and what we're doing today is that I would say to the site, I'm looking for a pair of trousers. And I get the question, the query, what are you looking for? What are you going to be using it for? What are you doing? I'm going to a, wedding.
[08:57.6]
I need it in the summer. Okay. I've got some lovely trousers that are lightweight, dark blue as you go. They're very smart for a wedding. And there'll be three or four, there won't be 500. So the experience that we're trying to imitate online is the experience you'd have in store with a great salesperson.
[09:14.0]
And that's what we're doing. Yeah, I see. Yeah. Any hot takes about the industry that you want to share? Only that the industry doesn't seem to be aware of this incoming magnitude of, of change. I think that, you know, a lot of people talk about agents and agentic commerce but nobody's really doing anything about.
[09:33.4]
It's a lot of vaporware. We, we, we are really getting into the weeds on laying down the foundations for this. And that gives us a significant advantage. I mean I'm very pleased. Good for us. Yeah. Leads into my next question. Which is tell us what separates you from the competition.
[09:50.2]
What makes Resolve AI the best in class? We know what we're doing and nobody else does. In my view. We've solved the problem of hallucinations and nobody else has. And we're growing incredibly fast, and are well placed to take this on, because, we have the right product products at the right time for the market.
[10:13.8]
Great. Well, Dan, I really appreciate your time. That's a pleasure. Great learning about Resolve AI and, as we close up, anything else you want to say to our audience of small and medium sized businesses that are trying to learn and stay up to date on the industry? Yeah. Get in touch. We can help you. Super. We'll put a link to get in Touch in, the post.
[10:30.9]
Thank you very much. Thanks again. Nice to meet you. Thanks. Cool. When is that going to go out, do you think? Within about a week or so.