Walmart Using AI Data to Prevent Store Shortages and Keep Customers Happy

Retail giant Walmart WMT +0.56% ▲ has further bolstered its technology credentials with the launch of a new AI-driven platform to prevent store shortages.

Claim 50% Off TipRanks Premium

  • Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions

  • Stay ahead of the market with the latest news and analysis and maximize your portfolio’s potential

Supply Chain Data

Walmart Data Ventures has introduced Scintilla In-Store designed for supplier field representatives working across Walmart stores.

According to Walmart, the new bit of kit combines tools,”real-time” store data, performance metrics and supplier-assigned tasks into a single interface. It is designed to help reduce out-of-stock issues with its products.

It builds on Walmart’s first-party insights platform, Scintilla, by linking store-level data with field operations. However, Walmart said that they remain separate systems, aligned around data-led insights for suppliers and merchants.

“Scintilla In-Store is more than an upgraded app experience or a new name. Walmart Data Ventures is building a future where every field representative is guided by real-time insights – enabling them to focus on what matters most and complete tasks with greater efficiency and speed,” Walmart said. “By leveraging the same item and modular information used by store associates, field representatives can quickly identify which items may be running low and need replenishment. They can also help ensure that items shifted on the shelf during busy shopping periods are accurately reflected in Walmart’s inventory systems.”

Technology Shift

Formed in 2021, Walmart Data Ventures is tasked with “bringing to life new business applications of Walmart’s powerful first-party data.”

It is part of the retailer’s increasing shift towards technology, which in the last few months has included a new AI chatbot called Sparky and partnerships with ChatGPT creator OpenAI.

It is partly why Walmart chose to switch its stock market listing from the NYSE to Nasdaq last year.

Although the more it develops its technology arm, the more it becomes a key risk for both the business and investors looking to put their cash into the stock. See our Risk Analysis tool for WMT above.

Is WMT a Good Stock to Buy Now?

On TipRanks, WMT has a Strong Buy consensus based on 27 Buy and 2 Hold ratings. Its highest price target is $150. WMT stock’s consensus price target is $138.50, implying a 9.40% upside.

Disclaimer & DisclosureReport an Issue

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
  • Pin

Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)