"One major reason for the deal is that people will be able to do much of their shopping before they reach the stores. "Through AI-first shopping, the retail experience shifts from reactive to proactive as it learns, plans and predicts, helping customers anticipate their needs before they do," Walmart says. A primary reason for the move is to connect customers to the shopping experience. This does not just mean locating products; it means describing them and showing how they work."
"Then there is checkout, which is automated, in part, at almost every Walmart store. When that goes to 100%, AI checkout is seamless. Walmart calls this "Instant Shopping." So-called retail shrinkage is about 1.2% of inventory. Most of this loss is due to theft by shoppers and employees. AI will spot stolen goods going out the door, both the front door and the back door. What now costs Walmart tens of millions of dollars will go away."
Walmart partnered with OpenAI to create AI-first shopping experiences that shift retail from reactive to proactive by learning, planning and predicting customer needs. Customers can complete much of their shopping before arriving at stores through AI-guided discovery, descriptions and demonstrations of products, reducing the need for in-store experts. Checkout automation moving toward 100% Instant Shopping will streamline transactions. AI-driven surveillance will reduce retail shrinkage by spotting stolen goods. AI consistency is expected to outperform variable human performance and eventually automate delivery and parking-lot fulfillment, resulting in significant workforce reductions and improved profitability.
Read at 24/7 Wall St.
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