Last week, Walmart announced a new partnership with OpenAI that will allow customers and members to shop Walmart through ChatGPT using its Instant Checkout functionality. Walmart referred to this as “ushering in the next generation of retail by combining its huge assortment, everyday low prices and delivery speed with the power of AI.”
Today, KC asks Tom Furphy what exactly this all means, how it will work, what the advantages are for Walmart and OpenAI, and how this creates challenges for Amazon as it considers whether to engage. (There are good reasons for and against.) And they chat about how smaller retailers should think about and act on these developments.
If you’d like to listen to this Conversation as an audio podcast, click and download below.
Note: The continuing goal of “The Innovation Conversation” is to explore various facets of the fast-changing, technology-driven retail landscape and how they affect businesses and consumers. It is territory that Tom Furphy – a former Amazon executive who led the team that developed Amazon Fresh, and currently CEO and Managing Director of Consumer Equity Partners (CEP), a venture capital and venture development firm in Seattle, WA, that works with many top retailers, manufacturers, and technology companies – is uniquely positioned to address.
You can reach Tom Furphy at [email protected].
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