Fintech & Ecommerce

Walmart Aims to Use Latest Retail Technologies

Walmart on Tuesday, January 9, published a press release describing its latest retail technologies presented at CES.

Walmart Aims to Use Latest Retail Technologies

The mentioned company is convinced that the future of commerce will be customer-oriented, interconnected, frictionless, and exceeding expectations. The brand’s press release notes that the way people find and buy products has evolved into a seamless integration of online and offline experiences. The company said customers expect retailers to provide a convenient and enjoyable shopping experience.

Walmart’s press release notes that technologies such as artificial intelligence and augmented reality will make the firm the customer’s concierge in the functional space of this brand. This will be a qualitative transition from the shopping platform, which for many years has been a kind of content of the company’s activities.

Walmart has already launched a new search service based on artificial intelligence, which is available to owners of devices running on the iOS operating system. This service generates relevant results for different categories of goods.

InHome Replenishment is based on Walmart’s eponymous delivery program and uses artificial intelligence and the retailer’s expertise. As part of this solution, the company ensures that customers’ virtual shopping carts will be filled with the right items at the right time.

The Shop with Friends social commerce platform is currently in beta testing mode. In this case, augmented reality technology is used. The platform provides customers with the opportunity to create digital outfits, share them with friends, and receive feedback.

Walmart has combined computer vision and artificial intelligence in a solution being tested at 10 Sam’s Club locations. In this case, the goal is to provide customers with the opportunity to leave the store without having to stand in line for receipt verification at the exit.

Drone delivery from Walmart covers 1.8 million households in the Dallas Fort-Worth metroplex. In this case, it is guaranteed that 75% of items in the Supercenter can be delivered to customers within 30 minutes.

My Assistant, a generative artificial intelligence tool for Walmart campus employees, is being scaled so that consumers in 11 countries can interact with this technology in their native language. This tool, which was launched in the United States in August, helps to solve such a task as summarizing large documents.

Walmart announced at CES its intention to commission projects in the sphere of clean energy up to 10 gigawatts by the end of 2030. This figure is equal to the annual electricity consumption of more than 2 million households.

As part of the creation of artificial intelligence-based tools, Walmart collaborated with Microsoft Azure OpenAI.

Doug McMillon, president and CEO of Walmart, stated that the company’s goal is to help people live better, noting that at the current historical moment, the development of technology gives a feeling that anything is possible. He also noted that this brand is focused on people and relies on technology. According to him, customers and partners occupy the first place in the hierarchy of priorities of the company.

As we have reported earlier, Walmart Upgrades Self-Checkout With BNPL from Affirm.

Serhii Mikhailov

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Serhii’s track record of study and work spans six years at the Faculty of Philology and eight years in the media, during which he has developed a deep understanding of various aspects of the industry and honed his writing skills; his areas of expertise include fintech, payments, cryptocurrency, and financial services, and he is constantly keeping a close eye on the latest developments and innovations in these fields, as he believes that they will have a significant impact on the future direction of the economy as a whole.