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Shopify Inc
Symbol SHOP
Shares Issued 1,215,069,696
Close 2026-07-02 C$ 169.65
Market Cap C$ 206,136,573,926
Recent Sedar+ Documents

Globe says Shopify benefits from AI, Uber not so much

2026-07-03 08:24 ET - In the News

Also In the News (C-META) Meta CDR (CAD Hedged)
Also In the News (C-UBER) Uber CDR (CAD Hedged)

The Globe and Mail reports in its Friday, July 3, edition that studies have been mixed on whether companies are experiencing the promised benefits of artificial intelligence yet. The Globe's Joe Castaldo writes that a KPMG poll last fall found that only 2 per cent of over 750 Canadian executives reported seeing productivity or cost savings from AI, mainly because many companies are still in the experimental phase and haven't integrated it into their core operations. Uber quickly exceeded its AI budget due to high usage of Claude Code, with the company's president noting no clear connection between AI usage and improved customer service. Meanwhile, Meta is taking steps to limit usage. The most intense corporate users of AI tools, about 1 per cent of companies, are spending $7,450 (U.S.) for each employee a month on AI, according to Ramp. That's about half the monthly salary of a software engineer. The top 10 per cent of firms spend $610 (U.S.) for every employee a month, while the median amount is just $11 (U.S.). Some companies accept higher expenses. Shopify reported rising costs in May as merchants utilized its AI tools. Shopify, however, says it is "seeing significant benefits."

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