Walmart and Amazon are the retail business leaders through AI-driven change in new consumption experiences and improved operational efficiency. According to a business analytics firm GlobalData, Walmart is playing by augmented reality and AI-fueled store management, while Amazon leads on customer personalization and autonomous systems.
Kiran Raj, Practice Head of Disruptive Tech at GlobalData, said, "Walmart and Amazon are vying for no more market share. They have molded and shaped the entire retail ecosystem-from Walmart's blend of digital and physical experiences to Amazon's process automation."
GlobalData's Disruptor Intelligence Center through the Technology Foresights tool helps to understand the strategic shift that these retail giants are planning through the patents they apply for.
Following this, Walmart has filed over 3,000 patents related to AI. As many as 20% of those have come in just the last three years, which demonstrates a rapid change in the evolution of their AI capabilities. On the other hand, Amazon has managed more than9,000 patents, with half of these in the same time period, showcasing its leading role in AI-led retail innovations.
Walmart is launching AI-based offerings like in-shop product identification and taking key advances in AR applications with virtual try-ons, for instance. The company's developments in smart warehouses and image-based transactions mark a movement toward entirely automated retailing, significantly building velocity and accuracy in service to customers.
Amazon is the representative with the tremendous deployment of AI in customer personalization and autonomous systems. This platform is in line to take further advantages of its operational infrastructure by unleashing netting standards through Autonomous Network Virtualization and Automated VNF Deployment.
Intelligent voice assistants and automated store surveillance capabilities developed by Walmart are the reflection of company strategies to ensure seamless and secure shopping experience. On the other side, Amazon's developments in AI for coding as well as surveillance are challenging the limits of enterprise AI applications and enhancing security capabilities. "Walmart and Amazon's aggressive innovation approaches are not only strengthening their market position but is also a blue print to the future of the retail industry," says Raj.
As these two giants continue to stretch the limits of retail AI, general industries can expect ripples in the innovation of supply chain, customer loyalty programs and scalability of operation that would lead to a new era of consumer engagement.
