Artificial Intelligence: Walmart’s Cutting Edge Use of AI and Machine Learning in Retail

https://dailyalts.com/wp-content/uploads/2019/12/artificial-2970158_1920-walmart.jpg

Walmart straddles both brick-and-mortar and online, giving it a unique tech perspective.

Though venerable Walmart started business many decades ago, it’s no slowcoach in modern-day technology. The company has a unique vantage point because of its status as the biggest online retailer after Amazon and its huge network of physical stores. Its development lab marries the best of both worlds when it develops retail technology.

In new applications, Walmart uses machine learning, barcode technology, facial recognition, IoT, and RFID to enhance the shopping experience. Earlier this year, the retailer unveiled its store of the future at the Neighborhood Market in Levittown, New York.

AI for insurance, freshness

The futuristic store is the Intelligent Retail Lab. It uses AI to insure its stocks and monitor the freshness of perishables. Cameras throughout the store transmit data to an in-store data center for processing.

Checkout Theft at Walmart

Walmart started using computer vision technology to monitor checkouts and deter potential theft and other causes of shrink in more than 1,000 stores. Cameras track and analyze activities at both self-checkout registers and those manned by Walmart cashiers.

Self-service kiosks

Here’s a combination of online-physical store technology. Next time pick up your online purchase at a 16×8 sq ft self-service kiosk in the nearby Walmart store. Just scan the barcode on your online receipt, and your purchases will materialize within 45 seconds on the conveyor belt.

Scan and Go

Use the Walmart app on your phone to short-circuit the checkout process. Ultimately the retail chain may use this technology to enable customers to bypass the checkout queue entirely.

Are you unhappy with the store?

If you’re unhappy or angry with the store, your face will show it. Guess what; facial recognition cameras have been trained through machine learning to recognize such expressions. The store would, therefore, be alerted to rush more workforce to run the checkouts.

IoT tags in products

Walmart may incorporate IoT tags into products. For the customer, these tags will enable stock-out or expiration date alerts – even place orders for replenishment! Moreover, for the retailer, it would gather a gold mine of information on how the product is used, when it is used, and where it’s placed in the house.

Walmart could, therefore, collect data on customer behavior that it could use to enhance their interactions with the retailer.

Robotic deliveries

Nuro, a Silicon Valley robotics company, and Walmart have partnered to run a pilot in Houston to test grocery deliveries. The pilot will use autonomous delivery vehicles.

Related Story:  Walmart Canada To Roll Out World’s Largest Blockchain For An Industrial Application                      

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Shape

Latest Alternative Investment News

https://dailyalts.com/wp-content/uploads/2023/12/AMD_headquarters_santa_clara.624da707519a6.jpg
Artificial Intelligence: AMD Takes On Rivals In The AI Chip Sweepstakes
December 7, 2023     Artificial Intelligence, News

Chipmaker AMD (NASDAQ: AMD) has unveiled a range of innovative AI solutions spanning from data centers to personal computers. The AMD Instinct MI300 Series features data center AI accelerators, while…

https://dailyalts.com/wp-content/uploads/2023/12/RHCEU-Inline.jpg
Digital Assets: Robinhood Debuts Crypto Trading On Its App In The EU
December 7, 2023     Digital Assets, FinTech, News

Robinhood (NASDAQ: HOOD) has launched its Crypto app in the European Union (EU), allowing eligible customers to engage in crypto trading with the added incentive of earning Bitcoin rewards. Customers…

https://dailyalts.com/wp-content/uploads/2023/12/Samsung_UK_Samsung_Pay_Lifestyle_0552-revised-Pictogram-23.11.30-1024x744-1.png
FinTech: Samsung Electronics Ties With Mastercard’s Wallet Express
December 7, 2023     FinTech, News

Samsung Electronics (KRX: 005930) and Mastercard (NYSE: MA) have partnered to launch the Wallet Express program, offering banks and card issuers a cost-effective way to expand digital wallet offerings. Through…

https://dailyalts.com/wp-content/uploads/2023/12/Revaia-founders.jpg
Venture Capital: Revaia, Europe’s Biggest Female-Led VC Firm, Racks Up $160M For Second Fund
December 7, 2023     ESG and Sustainability, News, Venture Capital

Revaia, Europe’s largest female-founded venture capital firm, has successfully raised €150 million ($160 million) for its second fund, Revaia Growth II. The funding was secured from sovereign wealth funds, family…