Walmart's Technological Transformation Under Suresh Kumar

Introduction to Suresh Kumar

• Executive Vice President and Global Technology Officer at Walmart since 2019.
• 25 years of experience from Google and Microsoft.
• Leads a global team of 20,000 technologists, with plans to expand by 5,000 more.
• Focus on transforming Walmart through technology.

The Role of Technology at Walmart

• Technology is integral to Walmart's mission of saving money and helping people live better lives.
• Key areas of technological impact:
  • Enabling customer purchases directly from social feeds.
  • Innovative delivery options like direct-to-refrigerator.
  • Improving overall customer experience and operational efficiency.

Retail Disruption and Walmart's Approach

• Retail undergoes disruptive cycles roughly every 20 years, driven by tech advancements.
• Previous disruption: rise of e-commerce led by Amazon.
• Current disruption includes advances in computing, deep learning, and natural language recognition.
• Focus on a seamless customer experience across online and in-store platforms.

In-House Technology Development and Partnerships

• Two-track tech development: in-house and partnerships (e.g., with Adobe).
• Investment focuses:
  • Enhancing customer experiences.
  • Supporting 2.3 million associates to improve efficiency.
  • Business transformation through automation and data insights.

Key Technological Innovations

• Customer Experience:
  • "Be Your Own Model" for personalized shopping.
• Associate Efficiency:
  • "WISPIC" uses AR to aid associates in product stocking.
• Business Transformation:
  • Use of data and machine learning for decision-making, supply chain optimization, and cost reduction.

Data Collection and Commercialization

• Data as a key commodity for understanding customer behavior and personalizing services.
• Aim to create an open ecosystem benefiting Walmart and its partners.

Role of Cryptocurrency and Virtual Goods

• Crypto is seen as a potential disruption in payment methods and customer transactions.
• Part of a broader trend including the metaverse and live streaming for product discovery.
• Walmart aims to provide seamless transaction experiences in both physical and virtual realms.

Conclusion

• Walmart is leveraging technology to transform the retail experience.
• Efforts are focused on delighting customers and enhancing efficiencies.
• The role of crypto and innovative payment options will continue to grow.