Snap on Wednesday rolled out its own chatbot “My AI” as part of a paid subscription product called Snapchat+ which can recommend gift ideas, plan getaway trips, suggest recipes and write programs based on OpenAI’s GPT technology.

My AI, AR-enabled shopping suite, immersive live music experience, live location sharing, and the stories monetisation program for creators were among the bunch of new features unveiled by Snap Co-Founder and CEO Evan Seigal and other top officials of the company at the “Snap Partner Summit”. 

The move is being viewed as an attempt to woo new users globally amid cut in digital ad spend and stiff competition from other social media platforms like TikTok. 

The company officials also said that its paid subscription service Snapchat+ has amassed three million paid users since its launch in late June 2022.

Snap posted a net loss of $1,430 million in 2022, including restructuring charges of $189 million, compared to $488 million in 2021. Although it ended a challenging 2022 with 375 million Daily Active Users and 12% year-over-year annual revenue growth. 

The company reportedly eyes more than 1 billion users in the next two to three years.

This year’s Snap Partner Summit was aimed to celebrate the community of 375 million daily active users. 

Other new features:

*AR Mirrors for businesses using which customers can virtually try on products, play with engaging and fun experiences that encourage them to create and share content, and receive helpful guides and explanations to learn more about the products they see in the store. 

*Creators who have at least 50,000 followers, 25 million monthly Snap views, and post at least 10 Stories a month may be eligible to join our Stories revenue share program. Creators can see more details on qualifying criteria and eligible countries on the Creator Hub. 

*A new generation of Lenses powered by Generative AI, now available globally. Snapchatters can now transform themselves and the world around them into an animated sci-fi scene through the Cosmic Lens. 

*Live concerts would be more immersive with new augmented reality experiences and technology. Building on its multi-year partnership with Live Nation, Snap enhances live music with augmented reality and brings custom AR experiences to 16 of the biggest festivals. 

*New calling Lenses will let users break free from the grid and appear together, in one frame, and soon, even play games and solve puzzles while you’re virtually face-to-face.

*Snapchat Memories can be brought into your conversations with friends, so you can relive the moments made up of your favorite Snaps you’ve saved together.