Creator commerce platform LTK has introduced a suite of business management tools.
LTK Co-Pilot, announced Monday (Sept. 16), is designed to allow creators to spend less time on content creation and community management.
“The job of a creator is never-ending and incredibly time-consuming — they are often covering what an entire company does by themselves,” Kit Ulrich, general manager of LTK’s Creator Shopping Platform, said in a news release.
“That’s why we’re launching LTK Co-Pilot — their partner, always working behind the scenes, to help them work faster and monetize better on the LTK platform.”
According to the release, a subset of the Co-Pilot features artificial intelligence (AI)-powered tools, such as “Auto-Tag Products,” which uses AI to “automatically detect, identify and suggest products in a creator’s photo from the products saved in the creator’s folders.”
There are also AI tools that let creators instantly add products to their LTK and a tool that automatically generates video captions.
“Since 50% of videos on LTK are being watched on mute, this new feature allows a creator’s community to fully enjoy a creator’s video content for maximum impact,” the company said. “Captions can easily be disabled by shoppers by either long-pressing or tapping the captions, to toggle off.”
The launch follows the recent announcement of what LTK called “major” updates to its creator app, including one that lets creators access all available commission rates on the platform.
“Creators have transformed the retail industry — becoming a preferred way for millions of people to discover and shop, resulting in billions in sales,” Ulrich said at the time. “As more retailers and brands recognize the value of partnering with creators, LTK is helping creators embrace this pivotal moment.”
The company also said this summer it was transforming its app to be video-first, with the introduction of a shoppable video feed called Full-Screen Continuous Video and a new content guide called Daily Drops.
Meanwhile, PYMNTS recently explored the rise of companies such as Bump, which aim to help creators access financing, by using creators’ income and real-time market value.
“Access to business loans and lines of credit are virtually nonexistent,” James Jones, founder and CEO at Bump, told PYMNTS in an interview. “Most creators are denied access because they don’t have pay stubs or W2s, or because their income is just too unpredictable for traditional institutions with very little appetite for risk.”
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