Walmart CEO Doug McMillon shares how far the company has come, where it is now, and the opportunities it’s providing, all with the help of technology.
Technology has been a critical part of Walmart’s work, said CEO Doug McMillon in a CES® 2021 keynote.
“It’s very exciting, the way the company has changed our way of working to put technology to work, whether that’s software of the way we use our data or, increasingly, the way we use robotics in our business,” he said.
Through modernizing the company’s supply chain and tech-stack processes, changing the way Walmart teams work together, and introducing new ways to offer Walmart services through technology such as the Walmart+ initiative, the retail giant has grown by leveraging the power of technology.
“There’s a ton of innovation here and it’s moving very quickly,” McMillon said. And the road to where the company is now has been a catalyst for even more innovation. This is not a zero-sum game where some people win, and some people lose. Diverse teams win. Inclusive environments are more successful.
Harnessing Technology to Grow
McMillon emphasized that business leaders should always learn and apply to broaden perspectives and grow organizations.
“We try to be deliberate about establishing networks and learning together about what the future of AI will mean or how robotics can change our business, and how 5G can impact how people live and shop and what that means to how we need to change our business,” he said.
He cited three key technologies:
Artificial intelligence (AI): For Walmart, the path to saving customers time is personalizing experiences. Leveraging AI to create better recommendations and customizations will help the company reach this goal.
Big Data: Walmart is striving to use data to better interact with customers but maintaining customer trust in the brand.
Robotics: Robotics has allowed Walmart to automate many processes in stores and distribution centers, and McMillon believes that it can help improve inventory turns.
“There’s just so much change right now,” McMillon said. “I just celebrated my 30th year with Walmart and there’s more change happening right now than at any point in those 30 years.”
Full article at Walmart Goes Faster Forward with Tech (ces.tech).
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