According to GlobalData, advances in AI are enabling Walmart and Amazon to redefine consumer experiences. While Walmart is combining augmented reality and AI-based store management to improve in-store experiences, Amazon is very active in the ability to personalize the customer experience.
“Walmart and Amazon are no longer just competing for market share. Their AI strategies are reshaping the entire retail ecosystem, from Walmart’s combination of digital and physical shopping experiences to Amazon’s operational automation.“says Kiran Raj, Head of Disruptive Technologies Practice at GlobalData. GlobalData’s Disruptor Intelligence Center, through its Technology Foresights tool, reveals the strategic direction of Walmart and Amazon on key innovation areas based on their recent patent filings.
Indeed, Walmart has filed over 3,000 AI-related patents (a significant 20% increase in the last three years), demonstrating its recent AI efforts. Amazon, meanwhile, has over 9,000 patents, 50% of which were filed in the same period, reinforcing its leadership in AI-driven retail innovations.
Redefining Retail with AI Innovations
GlobalData points out that Walmart has made significant progress in augmented reality applications such as virtual try-ons and AI-based store management solutions leveraging in-store product recognition. The retail giant’s advances in AI Smart Factory and image-based transactions highlight an evolution towards fully automated sales, improving the speed and accuracy of customer service.
Amazon, on the other hand, stands out for its extensive deployment of AI in customer personalization and autonomous systems.By pioneering technologies such as autonomous network virtualization and automated deployment of Virtual Network Functions (VNFs), the multinational is improving its operational infrastructure while setting new benchmarks in network efficiency and data management.
Retail experience and security
Walmart’s focus on developing intelligent voice assistants and automated store surveillance underscores its interest in creating a seamless and secure shopping experience. Meanwhile, Amazon’s advancements in AI for coding and AI surveillance are pushing the boundaries of enterprise AI applications and security enhancements. Raj concludes: “Walmart and Amazon’s aggressive innovation strategies not only strengthen their market positions, but also set a model for the future of the retail industry. As these two giants continue to push the boundaries of AI in retail, the entire industry can expect ripple effects in supply chain innovation, customer loyalty programs, and operational scalability, ushering in a new era of consumer engagement.“
Source: www.ecommercemag.fr
