Walmart is using AI to negotiate with equipment suppliers.
- Walmart is using Pactam AI technology to negotiate with suppliers, Bloomberg reports.
- You tell the AI chatbot your budget, and the chatbot interacts with a human vendor.
- Walmart has recently been pushing the use of artificial intelligence.
If you’re a Walmart supplier, you may not be dealing with human employees working there.
Walmart is using chatbots to negotiate with equipment suppliers, according to a recent Bloomberg report. It’s a chatbot similar to the popular ChatGPT, developed by Pactum AI, an artificial intelligence technology company based in Mountain View, California.
Here’s how it works, according to Bloomberg: The Bentonville, Arkansas-based retail giant tells software its budget and priorities. The chatbot then negotiates with the merchant and closes the deal.
Most of its suppliers, three in four, prefer to interact with robots over Walmart negotiators, the company told Bloomberg. Walmart is said to be Paktam AI’s first customer.
“Some people really like it and say, ‘This is the best way to do it,'” Darren Carithers, Walmart’s senior vice president of international operations, told Bloomberg.
“But if you think about self-checkout, some customers will like it, but I’m sure there are customers who want to go to a human checkout.”
Paktam AI’s chatbots can also offer discounts, payment terms, negotiate prices, and even compare current and past offers and pay other companies for individual products. Artificial intelligence can close deals in days that would take humans weeks or months, Walmart told Bloomberg.
AI technology also applies to shopping apps
This isn’t the first time Walmart has used artificial intelligence. In December 2022, the company rolled out a new text-to-shopping tool, allowing customers to submit the name of the item they would like to purchase after interacting with the robot. And more than 50 million customers use chatbots to keep shoppers informed online and through apps, Walmart CEO and president Doug McMillon wrote in his annual letter to shareholders. ing.
But the company still expresses concerns about AI chatbot technology.
Walmart Global Tech, the company’s technology and software engineering arm, issued an internal memo in February telling all employees not to share sensitive information about Walmart on ChatGPT.
“Putting Walmart information into these tools may violate confidentiality due to the risk of corporate information disclosure and may significantly affect our rights in any code, product, information or content. ’” the note said.
“Everyone has a responsibility to use and protect Walmart data properly.”
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(Translated by Yasuko Ito, edited by Toshihiko Inoue)
Source: BusinessInsider
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