Topic:
Walmart’s Business Proposal for AI (and/or robotic) Applications.
I am attaching my outline please use the outline as a references for the final. Please do not just copy and paste what is in the outline the final requires its own research
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AI and Robotics Business Proposal
Angela Poole-Evans
APUS
February 5, 2023
Table of Contents
Introduction 3
Walmart’s Business Proposal for AI (and/or robotic) Applications 4
AI (and/or robotic) System 5
Research Findings 5
Issues with Proposal 6
Benefit with Proposal 6
Conclusion 7
References 8
Introduction
Over the years, Walmart has been using AI in its supply chain efforts to predict sales demand for more complex tasks such as creating customer demand predictions in terms of what the consumer will want to purchase by analyzing data across various channels (Cao, 2021). Walmart has also embraced AI in customer service inquiries to comprehend what customers want when they request a certain product, etc. This proposal will outline how Walmart can utilize AI and robotics to enhance the customer service experience, and increase efficiency. AI and robotics have the ability and capacity to automate tasks that customer service representatives are currently doing. This would enable employees in this department to perform other roles such as dealing with more complicated inquiries. Besides, AI and robotics would enable Walmart to offer customer service 24/7 because they do not require time off for breaks and sleep.
While diving into the specifics, there are various options for AI and robotics solutions that could be utilized. The first option entails the utilization of chatbots or computer programs that copy and imitate human conversation. These tools could deal with simple inquiries from the customers such as order status updates. Another alternative would be the utilization of virtual customer service agents powered by artificial intelligence and thus able to deal with more complex customer service inquiries (Bogue, 2019). In addition, these virtual customer services agents would have the ability to offer a more customer-centered experience due to their ability to recall previous interactions and structure their responses accordingly. In the long run, the use of AI and robotics would be an advantage to the customers and Walmart at large. The former would benefit from quicker and more efficient services and the company would enjoy increased efficiency, and productivity.
Walmart’s Business Proposal for AI (and/or robotic) Applications
In Walmart’s business model, the company has taken into consideration the utilization of AI and robotics to improve efficiency and productivity. Before implementation of these applications, it is essential for the company to look into the cost of implementation and maintenance, the technology’s threat to personal privacy, as well as the impact on wages and employment. With regard to privacy, Walmart is a large organization that deals with huge volumes of customer data and must make the security of the AI and robotics systems a top priority. They must also ensure that customers give informed consent before sharing their information.
Secondly, replacing human workers with technology would adversely affect their wages and employment status. There would be a high probability of laying off employees, and the remaining jobs would probably be low paying. Lastly, Walmart would need to consider the cost of implementing and maintaining AI and robotics. The initial cost of investment would be expensive because of the cost of technology as well as the cost of expert personnel to operate and maintain the system (Bock et al., 2020). Besides, the employees would require training and education to operate the new technology further increasing the cost of implementation and maintenance.
To improve Walmart’s business efficiency, AI and robotics will be used to manage inventories, fulfill orders, and interact with customers as customer service agents. This technology will be used to monitor and replenish stock and also monitor the levels of inventory. With a more effective inventory management system that uses AI, Walmart will track inventories and avoid problems of stock-outs and overstocks. To fulfill orders, AI and robotics systems will ensure faster picking, packing, and delivery of products rather than depending on third parties for deliveries. In terms of customer service, AI can be utilized to create an automated customer service system that can deal with customer inquiries and complaints in a faster manner and with fewer errors.
AI (and/or robotic) System
This system will be used in Walmart’s warehouses to pick up, and pack orders thus saving time and cost associated with Walmart’s use of human labor. The use of robots will hasten processes at the warehouse and make them more efficient. Besides, robots will be used to deliver products to customer locations making transportation much faster and more efficient. Additionally, AI will be used to make personalized customer recommendations for the products they need as well as alternative products with similar qualities. In the customer service department, AI and robotics will be used to communicate with customers about the orders that they need to place, etc.
Research Findings
Strands of literature show that the use of AI and robotics can enhance productivity and efficiency in a couple of ways. For instance, Walmart initially encountered issues where personal shoppers had to experience a manual process to identify the best way to handle substitution. However, there are so many factors that can go into that decision, and attempting to account for all was complex and time-consuming. To ensure correct substitution in a manner that would help predict the next best item for the customer, Walmart created a technology solution using AI. This solution would consider different variables such as price, brand, shopper data, etc. to identify the next best item for the customer (Mahmoud et al., 2020). This solution was designed to make work easier where rather than guessing what the customer would prefer, the system would suggest alternative products.
Issues with Proposal
The main issue with this proposal is the potential impact on people’s jobs. In the past, some employees at Walmart have been laid off, especially during the Covid-19 pandemic, and implementing AI and robotics may also lead to more layoffs. This will particularly affect the employees in the customer service department since AI will replace them in handling customer queries. Additionally, the issue of privacy pops up again because, with the use of AI and robotics, there will be a breach of privacy and confidentiality when it comes to the significant amount of data that Walmart has about its customers. Moreover, the use of AI and robotics could affect Walmart’s relationship with its suppliers. This is because the new technology will replace the suppliers’ duties of picking and packing orders which is commonly done by human beings. Furthermore, the increased investment in new technology could make Walmart a monopoly and thus creating a very competitive environment for its rivals.
Benefit with Proposal
AI and robotics will bring a wide variety of benefits to Walmart in terms of efficiency and productivity. This technology will aid the automation of tasks and processes thus reducing the time consumed in handling specific tasks and it will allow employees to focus on more complex tasks. Besides, artificial intelligence can be used for data analysis to identify trends and patterns which can aid in decision-making and optimization of processes. Laying off of workers will reduce the amount of money spent on salaries and other benefits thus lowering the costs of operation. Additionally, the use of AI and robotics will increase efficiency and optimize processes and thus mitigate waste further reducing costs.
Conclusion
In this digital era, there is a need to embrace advanced technology to reap the benefits such as improved productivity. This paper presents a business proposal for Walmart and encourages the company to consider the issues of privacy, cost of implementation and maintenance, as well as the impact on employees before embarking on this new technology. Even while trying to gain the best from AI and robotics, Walmart should not compromise the privacy of its employees or the well-being of its employees. To prevent the laying off of workers, the company should develop a strategy where the workers can work together with the machines. With solutions to the above issues and with the capital to make the initial investment and maintain the technology, Walmart can take this step and implement AI and robotics to enjoy the benefits and increase the company’s competitive edge.
References
Bock, D. E., Wolter, J. S., & Ferrell, O. C. (2020). Artificial intelligence: disrupting what we know about services.
Journal of Services Marketing,
34(3), 317-334.
Bogue, R. (2019). Strong prospects for robots in retail.
Industrial Robot: the international journal of robotics research and application,
46(3), 326-331.
Cao, L. (2021). Artificial intelligence in retail: applications and value creation logics.
International Journal of Retail & Distribution Management.
Mahmoud, A. B., Tehseen, S., & Fuxman, L. (2020). The dark side of artificial intelligence in retail innovation. In
Retail Futures (pp. 165-180). Emerald Publishing Limited.
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