According to retail fair, Walmart is getting on board with the artificial intelligence (AI) trend too! At the International Consumer Electronics Show (CES) 2024, Walmart unveiled a series of new retail technologies that they are piloting and rolling out. According to the company, these new technologies will give them a new business model: adaptive retail, which is customer-centric, connected and frictionless.
Suresh Kumar, Walmart's global chief technology officer and chief development officer, said that while omni-channel retailing has been around for years, this new model, called "adaptive retailing," is a step forward. It's more than just e-commerce and brick-and-mortar, it's a unified and seamless blend of the strengths of each channel. For Walmart, the most important cornerstone of adaptive retailing is the focus on customer needs.
The new technologies announced include a 10-club pilot project. Sam's Club is currently testing artificial intelligence (AI) and computer vision technologies to eliminate issues such as queues, and there are plans for a social commerce platform and drone expansion.
According to retail fair, AI and computer vision technology is being used for the first time in 10 pilot shops at Sam's Club, through which customers can pay without having to wait in a queue. Previously, customers had to queue at the exit and have their shopping tickets checked by staff. Now, after paying at the register or using the "scan and go" feature, a combination of computer vision and digital technology installed in the exit area will capture images of shopping carts and verify that all items have been paid for.The AI will continue to learn and evolve as it makes its way through tens of thousands of items and multiple locations at Sam's. The technology is expected to be in place by early 2024 and is expected to be available in 10 pilot stores by the end of the year. The technology is expected to continue to be iterated and enhanced through early 2024, with plans to roll out to nearly 600 Sam's Club shops by the end of the year.
Additionally, Walmart is expanding its drone delivery service to 1.8 million homes in Texas, offering deliveries to shops in more than 30 towns and municipalities in the DFW Metroplex. Two on-demand drone delivery service providers, Wing and Zipline, have received approval from the Federal Aviation Administration (FAA) to conduct over-the-horizon flights (BVLOS) without the need for dedicated observers to monitor them at all times.
Walmart has also launched a generative artificial intelligence (GenAI) tool called My Assistant, designed to help employees in the US and Canada do their jobs more efficiently. The company plans to expand the tool to 11 countries by 2024.
According to retail fair, Walmart has also improved their app search functionality, using a new GenAI-powered search experience in the latest version of the app that generates relevant results across categories. This enhanced search allows customers to search based on specific needs and takes into account location, history and other contextual information to deliver more accurate results.
Additionally, Walmart revealed a beta version of its social commerce platform called "Shop with Friends," which facilitates the sharing of fashion opinions and interaction between customers through an augmented reality (AR) shopping experience.
All in all, Walmart is actively exploring and adopting AI technologies to enhance its retail business and is committed to creating a new adaptive retail model.
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