Future+ Fridays | Issue37

1. Trump’s new AI and trade policies: impacts on tech, retail, and consumer costs

What's happening: Donald Trump's anticipated return to the White House is expected to shake up the tech and retail sectors. He plans to roll back President Biden's AI policies by adopting a hands-off approach to regulation, leaving states to address issues like AI safety and intellectual property. Additionally, his proposed new tariffs could impact a wide range of products, from fashion to electronics.

TLDR:

• Trump's administration aims to dismantle Biden's 2023 AI Executive Order, which included reporting requirements for companies developing advanced AI models. It focused on transparency and safety, requiring companies to report how they test and secure AI models. It also tasked the National Institute of Standards and Technology (NIST) with creating guidelines to reduce biases and other model flaws.

• Trump's approach to AI may limit federal oversight, emphasising free speech and innovation but potentially reducing focus on mitigating biases or disinformation risks. However, he has acknowledged potential dangers from AI, suggesting he might keep certain safeguards in place for physical security concerns, such as misuse for bioweapons.

• In the last year, states have become more active in AI policy, with nearly 700 AI-related legislative proposals introduced, addressing issues from intellectual property to model safety. Many state-led efforts may continue independently, with states like Tennessee and California already passing AI-related laws.

• On trade, Trump has proposed broad tariffs on imports, particularly targeting China, with rates between 10% and 20% on most goods and up to 100% on Chinese products. Higher tariffs on apparel and footwear could push retail prices up by as much as 28% which already makes brands such as Adidas and Puma shake with shares that went down following the election.

• Tariffs could affect Made in the USA brands, as imported materials for domestic manufacturing may become more costly, raising production expenses.

• The National Retail Federation projects that these tariffs could cost American households an extra $7,600 annually, potentially reducing consumer spending power amid inflation and driving up costs for imported goods.

Why it matters: Trump’s AI policy shift could mean faster innovation but with less oversight, potentially raising safety and ethical concerns in an already fast-moving field. As the federal government steps back, tech companies may find less regulatory burden but face new pressures as states introduce their own AI legislation. On the trade front, higher tariffs could raise costs for consumer goods, pushing retail prices up and reducing household purchasing power just as inflation shows signs of easing. Luxury brands, apparel, and tech industries will need to adapt quickly to navigate higher costs and potentially strained supply chains, likely leading to price hikes and strategic shifts that ripple through the economy.

2. AI and virtual stores transform holiday shopping experience

What’s happening: AI is reshaping holiday shopping, with Benefit Cosmetics, Amazon, and Walmart using virtual stores and AI-powered tools to make online shopping more interactive and personalised. These brands are rolling out immersive experiences and tailored shopping assistants, making holiday shopping more engaging and streamlined for customers worldwide.

TLDR:

• Benefit Cosmetics has launched a 3D virtual version of its grocery-themed beauty pop-up, Benemart. The store, developed by Obsess, allows customers to shop in a digital space that mimics a grocery store layout. Shoppers can explore the store with a customisable avatar, interact with friends, and consult a live beauty expert.

• Amazon’s Virtual Holiday Shop presents a 3D holiday experience complete with festive music, animations, and a curated selection of more than 300 top gifts, ranging from fashion to electronics. Interactive elements include a conveyor belt of gifts and shoppable virtual showrooms.

• Amazon’s AI shopping assistant, Rufus, was just launched in Europe and helps shoppers find deals, suggest gifts, and answer questions in real-time, creating a tailored experience based on individual shopping needs.

• Walmart’s AI-powered shopping assistant, helps make searches more intuitive with natural language processing. The assistant offers product summaries, comparisons, and reviews to help customers make informed purchasing decisions, with plans to customise customer homepages for an even more personalised shopping experience in the future especially ahead of the festive season.

• Gamified features, such as scavenger hunts and scratch-off cards in Benefit’s virtual Benemart, make online shopping more interactive, while Amazon’s AI-driven gift guides help customers streamline their searches in a fun and accessible way.

Why it matters: Virtual shopping and AI are setting new standards for online retail, blending convenience, personalisation, and entertainment. With virtual experiences brands are finding innovative ways to engage customers, particularly during the holiday season when online traffic becomes higher. The AI-powered shopping assistants also adds a layer of interactivity that allows shoppers to receive personalised recommendations, compare products, and get answers to questions in real-time. As these technologies evolve, they’re expected to create "sticky" experiences that draw in customers and make online shopping more dynamic and enjoyable. This shift towards immersive, AI-driven shopping is likely to have a lasting impact on e-commerce, influencing how consumers approach online shopping year-round.

3. Opening of the Museum of Art + Light – a new home for digital and traditional art

What's happening: The Museum of Art + Light (MoA+L) opens today (8th of November) in Manhattan, Kansas, as the first museum globally designed to showcase both traditional fine art and digital art as equal features. Its permanent digital art gallery makes it a pioneering institution in the art world.

TLDR:

• The museum’s De Coded Digital Gallery is entirely dedicated to digital art, a first for a traditional museum. Unlike typical temporary exhibits, digital art is given a permanent, central space, treating it as a core part of the museum’s offerings.

• The opening exhibition, Code & Canvas: Defining Digital Art in the Age of Blockchain, explores how blockchain technology is used to authenticate and secure digital artwork, and emphasises the value and permanence of these pieces.

• The first featured artist include some of today’s leading digital artists:

  • Erick “Snowfro” Calderon, founder of Art Blocks, known for algorithm-driven generative art

  • Tyler Hobbs combines computer science with art to create algorithm-based generative pieces

  • Sasha Stiles, a poet who explores AI-driven language and art, creating generative poetry

  • Grant Yun and Emily Xie, artists who blend digital processes with traditional themes and visual complexity

• MoA+L offers an interactive station where visitors can experiment with Tyler Hobbs’ algorithm, creating their own generative artwork in real-time allowing guests to engage hands-on with the code behind digital art, gaining a deeper appreciation for how artists use algorithms as a medium.

• In partnership with a digital art platform, Iconic, MoA+L uses blockchain to authenticate its digital collection.

Why it matters: MoA+L sets a new precedent for museums by treating digital art as a fundamental part of the contemporary art world, not just a novelty or temporary exhibit. By giving immersive digital experiences and generative art a permanent gallery, MoA+L acknowledges that technology and creativity are now deeply interwined. The museum’s interactive approach and use of blockchain-backed authenticity invite visitors to experience digital art in a hands-on, engaging way. Positioned in Kansas, the museum also challenges geographic norms, signalling that innovative art institutions don’t have to be limited to major cities which opens access to digital art in new, unexpected regions.

4. ChatGPT unlocks real-time web search and acquires premium domain chat.com

What's happening: ChatGPT just leveled up with a powerful new web search feature that delivers fast, source-backed answers directly in the chat. Users can now get up-to-date information on news, sports scores, stock prices, and more without leaving the platform. OpenAI has also acquired the premium domain chat.com, making ChatGPT easier to find and access with a memorable, direct URL.

TLDR:

• ChatGPT’s new web search feature offers real-time answers with clickable links to reliable sources, letting users quickly find news articles, blog posts, and more.

• Users can choose to activate web search manually or let ChatGPT decide when it’s useful based on their question.

• OpenAI has partnered with data providers to enhance live information within ChatGPT, including updates on sports scores, stock prices, weather forecasts, and even interactive maps.

• The web search feature is currently available for paying users, with plans to make it accessible to free users in the coming months.

• OpenAI recently acquired the premium domain chat.com, formerly owned by Dharmesh Shah of HubSpot, who bought it for $15.5 million in early 2023. Shah reportedly sold chat.com to OpenAI at a higher price.

• The acquisition supports OpenAI’s rebranding efforts and makes ChatGPT easier to find and access with a short, memorable URL as it can now be access through chat.com.

• High-value domain like chat.com can significantly enhance brand recognition, therefore, OpenAI’s move here aligns with its recent growth and investments.

Why it matters: This new web search capability brings ChatGPT closer to an all-in-one information hub, blending the convenience of conversational AI with real-time search—something previously offered by other AI platforms like Perplexity. By integrating source-based answers, OpenAI makes ChatGPT more useful for time-sensitive information, like breaking news and stock updates, and boosts transparency by linking users to original sources. The acquisition of chat.com reinforces OpenAI's efforts to secure its place as a go-to brand in the AI space, giving it a premium online presence and likely setting the stage for broader accessibility and functionality for users.

5. PicoNext unveils AI-powered tool for DPPs creation on Shopify

What's happening: PicoNext has launched an AI tool to help brands and retailers create Digital Product Passports (DPPs) that enhance transparency and support compliance with EU sustainability regulations.

TLDR:

• PicoNext’s AI tool drafts Digital Product Passports (DPPs) by pulling data from Shopify product pages.

• DPP templates can be tailored to industries (like fashion) or customised for unique products.

• The tool simplifies data gathering, a process that’s often time-consuming for businesses, especially those without dedicated compliance teams.

• Some companies have already reported saving time and money using the tool.

• Consumers can view DPPs via QR codes or links, accessing details on carbon footprint, fair wages, and resource usage.

• The tool appeals to brands targeting eco-conscious consumers and uses OpenAI’s ChatGPT model for content generation.

Why it matters: Digital Product Passports are becoming critical as the EU pushes forward with sustainability regulations that demand transparency around supply chains, environmental impact, and ethical production. For brands, this is both a compliance necessity and an opportunity to strengthen consumer trust by showcasing their commitment to responsible practices. PicoNext’s AI-driven tool levels the playing field, enabling smaller brands without extensive compliance resources to provide detailed product insights—an advantage in an era where younger, eco-minded consumers are increasingly demanding transparency and sustainability from the brands they support.