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Investing.com -- Walmart (NYSE:WMT) stock rose 2% Tuesday after the retail giant announced a new partnership with OpenAI to create AI-powered shopping experiences, a move investors viewed positively.
The partnership will soon allow customers to shop Walmart through ChatGPT using a feature called Instant Checkout. Shoppers will be able to make purchases directly through chat conversations when planning meals, restocking essentials, or discovering new products.
Walmart CEO Doug McMillon highlighted the company’s vision for transforming e-commerce beyond traditional search bars and item lists. "There is a native AI experience coming that is multi-media, personalized and contextual," McMillon said in the announcement.
The retail giant is already implementing AI across various aspects of its business operations. The company reports that AI has helped reduce fashion production timelines by up to 18 weeks and cut customer care resolution times by up to 40%.
As part of its AI strategy, Walmart is also investing in its workforce by promoting AI literacy through OpenAI Certifications and deploying ChatGPT Enterprise to teams throughout the organization.
OpenAI CEO Sam Altman described the partnership as "one way AI will help people every day under our work together," focusing on simplifying everyday purchases for consumers.
The partnership represents Walmart’s latest effort to maintain its competitive edge in retail by embracing technological innovation while maintaining its core focus on low prices and convenience.
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