Walmart (WMT.N) announced two AI-driven tools at the CES conference in Las Vegas on Tuesday. These tools are designed to assist customers in swiftly locating products and automating the re-ordering of frequently purchased items.
The world's largest retailer launched a cutting-edge GenAI search tool. This tool has been developed through an amalgamation of Microsoft's AI models and Walmart's shopper data. It allows shoppers to search for products based on specific use cases rather than relying on brand names or specific item descriptions.
Customers will have the ability to search using phrases like "a football watch party" or "help me plan a unicorn-themed party for my daughter." Instead of having to search for items like chips, wings, and balloons individually, they will receive a customized list of products based on their specific search queries.
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The feature is presently available to iOS users, will be made available to users on its website and Android app later in the year.
Demonstrating another application of AI, the company has revealed its work on a tool known as "Walmart InHome Replenishment." This tool is aimed at assisting shoppers who utilize the subscription-based InHome delivery service to efficiently add frequently purchased items to their online shopping carts.
Similar to automobile and technology manufacturers, retailers are competing to identify consumer uses for Generative AI technology, which has gained immense popularity since the introduction of ChatGPT in late 2022.
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Amazon.com, a competitor of Walmart, has implemented generative AI tools to assist advertisers in enhancing ad targeting and enabling merchants to create promotions swiftly. Additionally, Volkswagen recently revealed at the CES conference that it plans to integrate ChatGPT into its vehicles.
On Tuesday, Walmart also revealed that it is extending the availability of its in-house AI tool, My Assistant, to employees in 11 different countries. Additionally, they introduced a service powered by AI and computer vision technology that eliminates the need for shoppers to have their receipts verified by a store employee at Sam's Club locations.
Currently, this technology is being tested in 10 Sam's Club stores. It utilizes a combination of cameras and AI-processing technology in the store's exit area to capture images of shopping carts and verify payment for all items in the basket.
Walmart plans to rapidly expand this technology to nearly 600 clubs by the end of the year, as shoppers have consistently expressed dissatisfaction with wait times at the exit, calling it a "pain point."
