Alphabet Inc. (NASDAQ:GOOG) Q1 2023 Earnings Call Transcript

Their collective accomplishments in AI over the last decade have really set the stage for this moment. And so both getting access to pool talent so that they can work together in a coordinated way and definitely will help us pool our computational resources too, which is going to be critical and will help us build. The core product is obviously building more capable models safely and responsibly and doing it taking into account all the capabilities our customers need, both on the consumer side and the cloud side and being able to iterate and getting that virtuous cycle going. So, you already have seen us put out PaLM APIs, and we are incorporating PaLM across our products, but we will continue that progress, and we will keep you posted as we do.Philipp Schindler So, retail is an important vertical and driver for us, and I called out the year-over-year increase in retail and Search and other.

I also talked earlier about the macro climate and how we have established. We can really drive value for retailers, even in challenging times, whether it’s online, offline, both. And we are helping them drive their business goals, meet customers wherever they choose to shop, and maybe a little more some key trends here. Retailers are increasingly focused on maintaining margins and driving ROI right now. PMax, broad manage were key levers providing more incremental conversions, while insights on bids and budgets are really helping retailers identify opportunities for growth and efficiencies across our suite of products. I have talked at length on prior calls about omnichannel. Our local and omnichannel solutions are helping bridge the gap here between online and offline by using AI to reach nearby shoppers, promote local inventory, fulfillment options, optimize in-store visits and sales, for example.

And then to help really retain loyal customers and acquiring new ones, we have YouTube app deep linking and new customer acquisition goals in PMax are helping here, making checkouts easy with tools like virtual cards on Chrome is obviously important. So, those are just some of the key points. Overall, we are giving retailers really the best, I hope AI-powered tools and solutions to maximize reach and ROI and really create a seamless experience, including, where possible, on the payment side for their customers, and this will continue to be our focus here.Operator Thank you. And that concludes our question-and-answer session for today. I would like to turn the conference back over to Jim Friedland for any further remarks.Jim Friedland Thanks everyone for joining us today.

We look forward to speaking with you again on our second quarter 2023 call. Thank you and have a good evening.Operator Thank you everyone. This concludes today’s conference call. Thank you for participating. You may now disconnect.