The proposals ranged from a "Communist China Risk Audit" and limiting contributions made by Walmart's PAC to requesting a "Racial and Gender Layoff Diversity Report." No dice: There were nine shareholder proposals - they all failed. Walmart's wholesale retailer Sam's Club uses the Converse tool for its AI digital assistant, "Ask Sam," which allows employees to ask questions and translate languages, among other tools. You don't have to have a data science degree."īhardwaj said the question employees are asking is, "How can I make my job easier and apply that across the entire company?" Then, once the shopper places the phone in its basket, the shopping assistant will ask if they also want a durable case.Ĭonverse was introduced back in 2020, but the world is more aware of it now thanks to ChatGPT, which Cheryl Ainoa, Walmart's EVP of new businesses and emerging tech, called a "tipping point." She added: "The reason is it brought the ability to engage with the AI to anybody. Compared to a year ago, Walmart stock is up more than 14%.įor example, a shopper can say, "I'm interested in looking for a cell phone for a 10-year-old," then chatGPT will unveil four criteria when buying a cell phone for a 10-year-old, such as safety and parental controls. Said the CEO: Walmart is "trying to work hard right now, as we have been for quite some time now, with our suppliers to get our prices down." McMillon was bullish, though: "We think the company's positioned to succeed regardless of the environment." To keep ahead of the competition, Walmart aims to cut prices in an environment where mega companies have been accused of over-charging to jack up profits. Price-cutting: CEO Doug McMillon told shareholders that some relief may be on the way for its customers. Why the concern? "Consumer wallets are squeezed and that's affecting.what they're purchasing," said Rainey. "We want to make sure that we are addressing not only the need to maximize revenue and profits but also looking at our balance sheet as well, making sure that we have access to capital at the lowest possible cost, which we did when we entered the market earlier this year," he added. CFO John David Rainey called the practice "part of our normal planning process" in a Q&A during the shareholder's meeting, saying, "We consider a range of possibilities, economic environment."
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