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The retail industry is about to be disrupted as the adoption of artificial intelligence, machine learning and cloud computing technologies accelerates, said experts at an event organised by American giant Walmart in Bengaluru.
Retail industry leaders and academics attending Converge @Walmart discussed how emerging technologies will enable businesses.
“We are at the beginning of another big disruption in retail,” said Suresh Kumar, executive vice president, global chief technology officer and chief development officer at Walmart Inc, in a video presentation.
“Many new technologies which have had a substantial impact on our industry have been accelerating in the last few years. As technology gets adopted, it redefines the standards, and disrupts industries. Whether a consumer speaks, texts, goes to a screen, or looks at the product from an AR/VR device, or interacts with it, they want a continuation of a conversation. Ultimately, consumers want seamlessness,” he said.
The one-day hybrid event discussed the speed of innovation and adoption, how to foster efficient technology teams prepared for delivering hyper-personalised experiences.
“The future of shopping is about strengthening the relationship with our customers and members. I am excited about unlocking possibilities with tech to enable the future and create personalized experiences they haven’t imagined yet,” said Balu Chaturvedula, senior vice-president and country head, Walmart Global Tech.
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“As a people-led, tech-powered company, people are our spark for innovation. They are using technology to design solutions with a global mindset and help our customers and members live better. This is key to how we're breaking the boundaries of what it means to be a tech company and deliver world-class solutions,” he said.
A highlight of Converge @Walmart was an open innovation challenge for students to pitch ideas on using technology to solve complex business challenges. The three winning teams were awarded cash prizes and an opportunity to interview with Walmart Global Tech.
