How Walmart Can Benefit From AI and Automation [Video]

Walmart’s (WMT) investments into automation and artificial intelligence (AI) could nearly double the retailer’s operating income by fiscal 2029 from fiscal 2023, Jefferies analysts wrote in a note Wednesday.

The world’s largest retailer has made a number of investments in the space in recent years that are starting to pay off, from automated forklifts to AI-powered checkout cameras that can catalogue the contents of a customer’s cart to prevent theft.

Walmart is progressing with the automation investments that the analysts predicted earlier this year could provide an estimated $20 billion in earnings before interest and taxes (EBIT) by fiscal 2029. The analysts projected that Walmart could save billions thanks to the efficiencies created by the automation investments, along with savings from advertising, reduction in food waste and theft, and automated driving.

One investment the analysts highlighted was Walmart’s investment in Fox Robotics, an autonomous forklift manufacturer. They noted that Walmart currently has 19 of the …