NEW DELHI : The pandemic has forced the retail sector to accelerate the pace of technology adoption. In 2021, a report by market research and advisory firm Forrester noted that India’s overall retail growth had shrunk for the first time amid lockdowns but it did not slow down the online retail sector that still grew at 5%, adding $1.6 billion in sales. Srini Venkatesan, executive vice president of US Omni Tech at Walmart Global Tech , has seen the use of technology in retail up close. In an interview, Venkatesan explained the role artificial intelligence (AI), augmented reality (AR) and other emerging technologies play in the retail sector. Edited excerpts:
How has India contributed to Walmart’s growth as a technology provider?
I have been involved in India for six years and have seen it grow from a small footprint. India has been an integral part of what we do. Our location in Bengaluru has some of the best talent pool in the world. A lot of our innovations in the last mile, fulfilment and forecasting have come from India.
How has the pandemic impacted the retail sector and what role has AI played in it?
The pandemic caused safety concerns for consumers. The needs of customers have changed because of it (too). Online pickup and delivery have flourished. AI has played a tremendous role in what we do, from offering delightful customer experiences to planning replenishment and flow of goods. AI has enabled us to know the inventory placement, where the demand is, and whether the inventory is reaching the right store for the audience.
Continue reading: https://www.livemint.com/companies/people/ai-can-help-personalize-offline-experiences-as-well-11649611527390.html
How has India contributed to Walmart’s growth as a technology provider?
I have been involved in India for six years and have seen it grow from a small footprint. India has been an integral part of what we do. Our location in Bengaluru has some of the best talent pool in the world. A lot of our innovations in the last mile, fulfilment and forecasting have come from India.
How has the pandemic impacted the retail sector and what role has AI played in it?
The pandemic caused safety concerns for consumers. The needs of customers have changed because of it (too). Online pickup and delivery have flourished. AI has played a tremendous role in what we do, from offering delightful customer experiences to planning replenishment and flow of goods. AI has enabled us to know the inventory placement, where the demand is, and whether the inventory is reaching the right store for the audience.
Continue reading: https://www.livemint.com/companies/people/ai-can-help-personalize-offline-experiences-as-well-11649611527390.html
