Is WIX's AI-Focused Strategy Heading in the Right Direction?

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Wix.com Ltd. WIX is making significant strides in generative artificial intelligence (AI) to position itself as a key player in a rapidly evolving market. WIX is a cloud-based web development platform...

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WIX is making significant strides in generative artificial intelligence (AI) to position itself as a key player in a rapidly evolving market. WIX is a cloud-based web development platform...</p>\n\n<a href=\"https://finance.yahoo.com/news/wixs-ai-focused-strategy-heading-121500918.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU2491050071.SGD","symbol_name":"WELLINGTON SUSTAINABLE OUTCOMES \"A\" (SGDHDG) ACC","start_time":0,"source_url":"https://finance.yahoo.com/news/wixs-ai-focused-strategy-heading-121500918.html","article_id":"2474744556","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/as5m4_sYhwbum22y4k2zVQ--~B/aD00MDA7dz02MzU7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/d43cb7b76527c97c59494165d3dffeae"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2474744556","pubTimestamp":1728562500,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Recently, the company unveiled its latest AI Theme Assistant that provides users with personalized recommendations and real-time advice, allowing them to customize their website’s theme easily. 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The introduction of WIX Studio  allows users to leverage cutting-edge AI technology for advanced web development.","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU2491050071.SGD":"WELLINGTON SUSTAINABLE OUTCOMES \"A\" (SGDHDG) ACC","LU2357305700.SGD":"Allianz Global Artificial Intelligence ET H2-SGD","LU0957808578.USD":"THREADNEEDLE (LUX) GLOBAL TECHNOLOGY \"ZU\" (USD) ACC","LU1861559042.SGD":"日兴方舟颠覆性创新基金B SGD","BK4566":"资本集团","GDDY":"Godaddy Inc.","LU2491050154.USD":"WELLINGTON SUSTAINABLE OUTCOMES \"A\" (USD) ACC","BK4524":"宅经济概念","LU0444973449.USD":"CT (LUX) I GLOBAL TECHNOLOGY \"DU\" (USD) ACC","LU0390134368.USD":"FRANKLIN GLOBAL GROWTH \"A\" (USD) ACC","BIGC":"BigCommerce Holdings","LU2265009873.SGD":"Eastspring Investments - Global Growth Equity AS SGD-H","LU2095319765.USD":"Natixis Thematics Subscription Economy R/A USD","BK4588":"碎股","BK4116":"互联网服务与基础架构","LU2210150020.SGD":"Natixis Thematics Subscription Economy R/A SGD","LU1720051108.HKD":"ALLIANZ GLOBAL ARTIFICIAL INTELLIGENCE \"AT\" (HKD) ACC","LU1804176565.USD":"EASTSPRING INV GLOBAL GROWTH EQUITY \"A\" (USD) ACC","BK4551":"寇图资本持仓","LU2210149790.SGD":"Natixis Thematics Subscription Economy R/A SGD-H","WIX":"Wix.Com Ltd","SHOP":"Shopify Inc","BK4548":"巴美列捷福持仓","LU1720051017.SGD":"Allianz Global Artificial Intelligence AT Acc H2-SGD","LU0444971666.USD":"天利全球科技基金","LU1548497426.USD":"安联环球人工智能AT Acc","LU1861558580.USD":"日兴方舟颠覆性创新基金B","BK4528":"SaaS概念","LU1642822529.SGD":"THREADNEEDLE (LUX) GLOBAL TECHNOLOGY \"A\" (SGD) ACC","BK4532":"文艺复兴科技持仓","LU1815336760.USD":"THREADNEEDLE (LUX) GLOBAL TECHNOLOGY \"AUP\" (USD) INC","LU0476273544.USD":"CT (LUX) I GLOBAL TECHNOLOGY \"BU\" (USD) ACC","BK4585":"ETF&股票定投概念","LU2491049909.HKD":"WELLINGTON SUSTAINABLE OUTCOMES \"A\" (HKD) ACC"},"translate_title":"WIX以人工智能为中心的战略是否朝着正确的方向发展？","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"WIX":1,"SHOP":1,"GDDY":1,"BIGC":0.9},"content_text":"Wix.com Ltd. WIX is making significant strides in generative artificial intelligence (AI) to position itself as a key player in a rapidly evolving market. WIX is a cloud-based web development platform based in Tel Aviv, Israel. It offers solutions that enable businesses, organizations, professionals and individuals to develop customized websites and application platforms and grow the companies’ online presence.Recognizing AI as a powerful catalyst for growth, the company has launched several innovative products. The AI-focused product strategy involves using intelligent AI tools to boost customer experience by simplifying web design and management. \nWIX’s AI-Based Innovations\nRecently, the company unveiled its latest AI Theme Assistant that provides users with personalized recommendations and real-time advice, allowing them to customize their website’s theme easily. This tool is part of a broader suite of innovations from Wix aimed at supporting users throughout every phase of their online journey, from initial ideas to final execution.In June 2024, WIX introduced advanced AI capabilities for its mobile app builder, allowing users to effortlessly create professional applications. It also expanded AI Website Builder to support multiple languages, making web development more accessible. The flagship AI Website Builder, launched in March 2024, uses conversational AI to help users create tailored websites through an intuitive chat experience. Moreover, WIX has embedded 17 AI business assistants across its platform, enriching the user experience.  The introduction of WIX Studio (August 2023) allows users to leverage cutting-edge AI technology for advanced web development. \nWIX’s Strategy Boosts Top Line \nThe uptake of WIX Studio and the AI product suite has driven impressive financial results, with bookings of $458.4 million in the second quarter — up 15% year over year. Total revenues increased 12% year over year to $435.7 million and beat the Zacks Consensus Estimate of $433.6 million. This strong performance has led management to raise revenue expectations for 2024 to between $1,747 million and $1,761 million (previous projection: $1,738 million to $1,761 million). Total bookings are expected to be between $1,802 million and $1,822 million compared with a previous range of $1,796-$1,826 million.\nStiff Competition Dents WIX Prospects\nDespite healthy AI traction, WIX faces stiff competition which could hinder its revenue growth. Overall, WIX’s AI-focused strategy appears to be on a promising path, but it needs to watch out for increasing competition to maintain its momentum.The e-commerce software market space is highly competitive, with companies like BigCommerce Holdings, Inc. BIGC, GoDaddy Inc. GDDY and Shopify Inc. SHOP scrambling to ensnare a bigger share of the lucrative market.BigCommerce is a leading open Software as a Service and composable e-commerce platform that enables brands and retailers of all sizes to build and grow their online businesses. To capture the AI market, the company has launched initiatives such as BigAI Product Recommendations for personalized shopper suggestions and BigAI Copywriter for creating SEO-friendly product descriptions, along with developing AI-driven apps to enhance operational efficiency.GoDaddy helps millions of small businesses globally accelerate their growth, giving entrepreneurs confidence at every stage of their business journey. Recently, it launched Airo, an intelligent experience that proactively builds and grows businesses with the power of AI. In the second quarter, the company passed an exciting milestone – more than 1 million new customers have discovered Airo and over half a million of them actively engaged with the experience.Shopify is the leading global commerce company that provides essential internet infrastructure for commerce, offering trusted tools to start, scale, market and run a retail business of any size.  In April 2023, it launched Shopify Magic, a suite of free AI-enabled features integrated across Shopify’s products and workflows.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nGoDaddy Inc. (GDDY) : Free Stock Analysis Report\nWix.com Ltd. (WIX) : Free Stock Analysis Report\nShopify Inc. (SHOP) : Free Stock Analysis Report\nBigCommerce Holdings, Inc. (BIGC) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2474744556"}