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HomeBusinessWalmart and Amazon reimagine retail with AI, finds GlobalData

Walmart and Amazon reimagine retail with AI, finds GlobalData

19 September 2024: Walmart and Amazon are leveraging artificial intelligence (AI) to push the boundaries of innovation, redefine consumer experiences and operational efficiency. While Walmart blends augmented reality and AI-powered store management to enhance in-store experiences, Amazon leads in customer personalization and autonomous systems, says GlobalData, a leading data and analytics firm.

Kiran Raj, Practice Head of Disruptive Tech at GlobalData said “Walmart and Amazon are no longer competing for market share alone. Their AI strategies are reshaping the entire retail ecosystem – from Walmart’s blend of digital and physical shopping experiences to Amazon’s operational automation.”

Walmart has filed over 3,000 AI-related patents, with a notable 20% in just the past three years, demonstrating its rapid AI evolution. Meanwhile, Amazon has more than 9,000 patents, with 50% filed in the same period, reinforcing its leadership in AI-driven retail innovations.

Redefining retail with AI innovations

Walmart is making significant progress in augmented reality applications such as virtual try-ons and AI-driven store management solutions such as in-store product recognition. The retail giant’s advancements in Smart Factory AI and image-based transactions highlight a shift towards fully automated retail, improving speed and accuracy in customer service.

Amazon, on the other hand, distinguishes itself with extensive AI deployment in customer personalization and autonomous systems. By pioneering technologies such as Autonomous Network Virtualization and Automated VNF Deployment, the multinational technology company is enhancing its operational infrastructure while setting new benchmarks in network efficiency and data management.

Retail experience vs security

Walmart’s focus on developing intelligent voice assistants and automated store surveillance highlights its interest in creating a seamless and secure shopping experience. Meanwhile, Amazon’s advancements in AI for coding and surveillance AI 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 blueprint for the future of the retail sector. As these two giants continue to push the boundaries of retail AI, the broader industry can expect ripple effects in supply chain innovation, customer loyalty programs, and operational scalability – setting the stage for a new era of consumer engagement.”

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