September 23, 2024
US
Walmart is combining augmented reality and AI to transform the in-store shopping experience, while Amazon focuses on personalization at scale. AI allows these two businesses to reshape the entire retail ecosystem. According to Kiran Raj, an expert in disruptive technologies at GlobalData, these technological advances no longer only concern competition for market shares but also redefine industry practices.
Walmart has filed over 3,000 AI-related patents, with a notable increase of 20% in the last three years. Amazon, for its part, has registered over 9,000 patents, 50% of which were recently filed, illustrating its dominance in retail innovation.
Walmart has developed augmented reality solutions, such as virtual fittings, and is using AI to manage stores through product recognition. This allows for complete automation of the sales process, improving the speed and efficiency of the service.
Amazon focuses on autonomous systems and innovations such as network virtualization and the automated deployment of VNF (Virtual Network Functions). These technologies improve its operations and increase the efficiency of data management.
Walmart is focusing on safety by developing smart voice assistants and automated surveillance systems in its stores. For its part, Amazon is pushing the boundaries of security with AI-based innovations in coding and surveillance, building customer trust.
Kiran Raj concludes that these innovation strategies strengthen Walmart and Amazon's market positions and pave the way for the future of retail. These efforts will influence the supply chain, loyalty programs, and the scalability of operations, creating a new era of consumer engagement.
By combining AI, augmented reality, and automation, Walmart and Amazon are redefining retail. These technologies improve operational efficiency, personalize the customer experience, and ensure greater security. These innovations position these two giants as the leaders of the future of retail.
Sources: eCommerceMAG
