In-Short
- Walmart and Amazon leverage AI for retail innovation, enhancing customer experiences and operational efficiency.
- Walmart focuses on AR and AI store management, while Amazon excels in personalization and autonomous systems.
- Both companies are setting industry standards with their aggressive AI patent filings and technology deployment.
Summary of Retail Giants’ AI Strategies
Walmart and Amazon are at the forefront of retail transformation, utilizing artificial intelligence (AI) to create new consumer experiences and improve operational efficiency. A report by GlobalData highlights Walmart’s investment in augmented reality (AR) and AI for store management, and Amazon’s leadership in customer personalization and autonomous systems.
GlobalData’s analysis of patent filings reveals Walmart’s submission of over 3,000 AI-related patents, with a significant increase in the last three years. Amazon has filed more than 9,000 patents, with half in the recent three-year period, demonstrating its dominance in AI innovation.
Walmart is integrating AI for in-store product recognition and AR applications like virtual try-ons, moving towards automated retail. Amazon’s AI applications extend to customer personalization and autonomous systems, enhancing network efficiency and data management.
Both companies are not only solidifying their market positions but also influencing the future direction of the retail industry with their AI-driven strategies.
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Footnotes
Image credit: Marques Thomas via Unsplash
