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April 26, 2019updated 23 Dec 2019 9:25am

Walmart opens AI-powered Intelligent Retail Lab in New York

Walmart has opened new artificial intelligence (AI-powered) store concept, the Intelligent Retail Lab (IRL), at its Neighborhood Market in Levittown, New York.

Walmart has opened new artificial intelligence (AI-powered) store concept, the Intelligent Retail Lab (IRL), at its Neighborhood Market in Levittown, New York.

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Walmart: Going Beyond Company Disclosures

Walmart has rounded out its fiscal year with a strong set of numbers that show it has taken supply chain disruption, rising costs, heavy inflation, and various other problems in its stride. There is comfortable growth on both the top and bottom lines, which is extremely respectable given tough prior year comparatives. Walmart hiring is slowing down as compared to hiring in the months of April and March in 2022. Walmart posted close to 40,000 vacancies in March and 30,000 in April, which has gone below 10,000 in June 2022. Walmart Company Filings has most of the mentions related to the ESG and COVID-19 themes in 2021. ESG has more than 300 mentions in the company’s 2021 filings which indicates the rising focus on ESG-related issues. Our report on Walmart: Going Beyond Company Disclosures, demonstrates GlobalData Explorer’s ability to:  
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The retailer will use the store, which features more than 30,000 products, to test technology in a real world environment. The IRL concept is designed by Walmart’s tech incubator Store Nº 8.

Covering 50,000ft2, the concept store currently employs more than 100 associates to undertake experiments during the pilot programme.

IRL CEO Mike Hanrahan said: “When you combine all the information we’re gathering in IRL with Walmart’s 50-plus years of expertise in running stores, you can create really powerful experiences that improve the lives of both our customers and associates.

“The technology has been built to improve associates’ jobs, to make their jobs more interesting, to help them alleviate some of the mundane tasks. AI can enhance their skillset in a very rapidly changing world.”

“AI can enhance their skillset in a very rapidly changing world.”

The store will feature a suite of cameras, sensors, and processors combined with real-time analytics to monitor inventory levels, automatically trigger out-of-stock notifications to internal apps that alert associates to restock and ensure product availability.

It will also use the technology to ensure shopping carts are available and registers are open.

Hanrahan added: “Customers can be confident about products being there, about the freshness of produce and meat. Those are the types of things that AI can really help with.”

In addition, the store features a glass-encased data centre, and multiple information stations to make customers understand how AI is being used in the store.

According to Walmart, the lab also features small educational kiosks to allow customers to interact and understand technical specifications and common questions.

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Walmart: Going Beyond Company Disclosures

Walmart has rounded out its fiscal year with a strong set of numbers that show it has taken supply chain disruption, rising costs, heavy inflation, and various other problems in its stride. There is comfortable growth on both the top and bottom lines, which is extremely respectable given tough prior year comparatives. Walmart hiring is slowing down as compared to hiring in the months of April and March in 2022. Walmart posted close to 40,000 vacancies in March and 30,000 in April, which has gone below 10,000 in June 2022. Walmart Company Filings has most of the mentions related to the ESG and COVID-19 themes in 2021. ESG has more than 300 mentions in the company’s 2021 filings which indicates the rising focus on ESG-related issues. Our report on Walmart: Going Beyond Company Disclosures, demonstrates GlobalData Explorer’s ability to:  
  • Track and monitor a company’s movements through alternative indicators to gain insights into the strategy before it is disclosed by the company
  • Gain insight into a company’s capital deployment strategy, by assessing historical deal volumes and specific transactions executed by the company, in addition to identifying sectors of focus
  • Go beyond basic financial information, to access key industry-relevant indicators for a company and how these have progressed over time
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.