Now this is a solid business use of AI. Updating 850 million records of products is a massive headache and something generative artificial intelligence is really great at. However, I am curious how you validate such a giant database. Perhaps a team of humans will have to double checks things – Or maybe not? Possibly a little risky when you’re selling products since you need to be super accurate. Being (hypothetically) fantastic 99.9% of the time is impressive but when you’re dealing with 850 million records, that still amounts to 85k potential errors. I don’t know what the actual number is but I know for a fact that AI is not always perfect! (Yet!)
Walmart is diving into the world of artificial intelligence to streamline its operations and enhance customer experiences. According to a recent report by Tomi Kilgore, CEO Doug McMillon highlighted on a post-earnings call that the retail giant is leveraging generative AI in several tangible ways.
Key Points and Main Takeaways
One significant application of AI at Walmart is within its product catalog. The company has employed multiple large language models to create or improve over 850 million pieces of data. McMillon pointed out that achieving this without AI would have required nearly 100 times the current head count.
Additionally, Walmart is using AI to assist associates in picking online orders by providing high-quality images of product packages. This helps them quickly find the items they need. On the customer front, a new AI shopping assistant is set to offer shopping advice and ideas on Walmart’s website and app.
How It Works
Generative AI, which is a type of artificial intelligence that can produce text, images, or other media, is at the heart of these advancements. For the product catalog, it means using AI models to generate and refine product data. For customers, the AI shopping assistant will interact with users to provide personalized recommendations and support.
Benefits
- Efficiency: The AI-driven approach allows Walmart to handle vast amounts of data without a proportional increase in manpower.
- Improved Accuracy: High-quality images and refined data help associates and customers find products more easily.
- Enhanced Customer Experience: The AI shopping assistant can offer personalized shopping advice, making the online shopping experience smoother and more enjoyable.
Concerns
While the benefits are clear, there are potential concerns. The reliance on AI could lead to job displacement as fewer human workers are needed for tasks that AI can handle. Additionally, there are always risks related to data privacy and the accuracy of AI-generated content.
Possible Business Use Cases
- AI-Enhanced Inventory Management: A startup could develop AI tools to help retailers manage inventory more efficiently by predicting demand and optimizing stock levels.
- Personalized Shopping Assistants: Create AI-driven virtual assistants for e-commerce platforms that offer personalized shopping advice and product recommendations.
- AI-Powered Customer Support: Develop AI solutions that provide automated customer support, handling common queries and issues to free up human agents for more complex tasks.
As Walmart continues to innovate with AI, it raises an important question: How will the integration of AI in retail reshape the job market and consumer experiences in the coming years?
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Image Credit: DALL-E
