The growing push for companies to become more efficient has forced them to increase R&D in the AI and robotics sectors, and Walmart is no exception.
The company has embarked on a drive to automate as many jobs as possible to increase efficiency, and has now estimated that 65% of its store will use technology in one form or another.
The company believes that they will be able to significantly increase the user experience and their profits by replacing many of their human workers.
According to @Walmarttech's VP of emerging tech, @Walmart is advancing its conversational AI capabilities using @OpenAI GPT-4, saying generative AI will “be as big a shift as mobile, in terms of how our customers are going to expect to interact with us.” https://t.co/K51a1XNyza
— VentureBeat (@VentureBeat) April 4, 2023
Walmart is building an Intelligent Retail Lab (IRL)
The Intelligent Retail Lab is designed to make the process of shopping as simple as possible. By using AI to recognise patterns in one’s shopping, the company can suggest better deals or make more accurate suggestions as to what the consumer might like.
Furthermore, screens at their stores will make it easier for customers for find the items that they are looking for when they arrive at the shop.
Lastly, artificial intelligence can be used in order to make supply chains in the store more accurate and efficient, such that there are never empty shelves. The ability to tailor the quantity of stock that they have on hand for different consumers in different locations is set to dramatically increase the firm’s revenues.
The rise of AI in the world of shopping
Walmart isn’t the only company that has been working to improve the process of shopping with AI. A series of companies such as Deliveroo and Tesla have been making use of technology to improve the
Tesla, for example, has grand plans for their self driving cars and their upcoming robot, both of which ought to be able to go to the supermarket to buy one’s groceries.
Relevant news:
- AI Search Startup Perplexity Raises $26m as Google Faces Yet Another ChatGPT-Like Competitor
- Google Claims its Own Custom AI Supercomputing Chips Faster than Nvidia’s
- Italian Authorities Ban ChatGPT Over Privacy Concerns
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This article was written for Business 2 Community by Jamie McNeill.
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