Peloton turns to AI in hopes of boosting slumping sales

Company Strategy & Innovation - Peloton is betting on AI with the release of five new products featuring "Peloton IQ," an AI personal trainer providing live feedback [1][2] - The company views Peloton IQ as a tool to personalize instruction and assist instructors [3] - Peloton hopes the new tech will justify higher prices, with the bike costing an extra 1,000 and the tread more than twice the original price [7] - The company aims for an AI-driven resurgence after a period of decline [7] - Peloton assures users that no raw video or images from home workouts are sent, viewed, or stored by the company [9] Financial Performance & Challenges - Peloton experienced a surge during the pandemic, reaching over 4 billion in sales in a single year [4] - Since its peak, Peloton's stock has lost approximately 95% of its value [4] - Sales decreased to under 2.5 billion in the last fiscal year [5] - The company faced a 19 million fine related to treadmill recalls in 2021 [5] - Peloton is implementing a 100 million cost-cutting initiative, including layoffs [5]