(Yicai Global) June 11 -- Despite being around since 1962, even huge global companies like Walmart have to do all they can to stay ahead of the market. The company has over 11,000 stores in 28 countries around the globe, with a staggering 140 million shoppers every week. Yet, it is not only its brick and mortar stores that bring success; it is actually the second largest online retailer as well.
With technological giants out there such as Amazon, being a convenient store simply isn’t enough. Recently, Walmart has transformed itself from traditional brick and mortar store into innovative organization, turning to technology in order to keep up with online companies such as Amazon.
These robots have been deemed the future of self-scanning. They can roam the shops aisles and check factors such as pricing, stock levels, misplaced items, and much more.
This essentially would mean that the staff would have more time to sort out and deal with more important tasks such as actually dealing with customers.
Many people are already realizing the potential that AI has in the retail industry, and in the future it is looking likely that it will be used to create a seamless user experience from the start to the end of their shopping, from assembly to post-sale customer service interactions.
It is not only AI that is putting Walmart into the forefront of innovative technology usage. The retail giant is also looking to utilize blockchain technology to perfect a smarter package delivery tracking system.
Not only that, but it has also introduced other technological experiences such as online voice shopping, frictionless checkout, and more. It is also looking to introduce facial recognition software in order to determine how customers feel about their shopping experience.
For example, if the facial recognition software can see that a shopper is annoyed while she is in the store, a staff member could immediately help her, hopefully resolving the issue before it becomes a fully fledged complaint.
This not only reduces the cost of staff time when trying to resolve an issue after it has taken place, but it can also help to protect the brand against any negative feedback in the long run.
Experts believe that all of these technological innovations are being used in a bid to win over millennials. Technology such as AI, facial recognition, and the use of blockchain, proves that a company like Walmart has no problem in keeping up with competitors like Amazon and other digital retailers.
[Disclaimer: Yicai Global is committed to providing an open forum to air a diverse range of views. The opinions expressed herein are the author’s alone. Yicai Global has redacted this article to conform to our style and usage guidelines, but neither validates its factual nor endorses its editorial content.]