Walmart (WMT) stock was lower today despite sealing a deal with OpenAI to help its employees embrace the technology revolution.
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Smart Staff
Beginning next year, U.S. store and office-based Walmart staff will have access to “cutting-edge AI training” through a new collaboration with OpenAI. That means getting hands-on experience with AI tools, so expect to see some tech-wielding workers next time you’re picking the ripest bananas or pears.
Sam Altman’s group, perhaps best known for being behind ChatGPT, has launched a new OpenAI Certifications program.
It is an expansion of the OpenAI Academy, a free online learning platform which was launched earlier this year. It has already, OpenAI, said helped train 2 million people.
Now it intends to offer “certifications for different levels of AI fluency from the basics of using AI at work to AI-custom jobs and prompt engineering.” It has a goal of certifying 10 million people by 2030.
In a statement, Walmart CEO John Furner said, “At Walmart, we know the future of retail won’t be defined by technology alone — it will be defined by people who know how to use it. By bringing AI training directly to our associates, we’re putting the most powerful technology of our time in their hands — giving them the skills to rewrite the playbook and shape the future of retail.”
Tech Race
In a note to employees, Walmart’s Chief People Officer Donna Morris said: “As we prepare associates across all areas — from supply chain to stores to tech — for the jobs of tomorrow, this free access to AI certifications and training through OpenAI will empower associates to lead and innovate in the retail industry.
Indeed, technology is seen by Walmart as key in challenging rivals such as Target (TGT) and especially e-commerce giant Amazon (AMZN).
It is why technology and innovation is seen as a key, above sector average, risk for the business – see below:
This includes the launch earlier this year of a new GenAI-powered shopping assistant called Sparky. It helps answer product questions from customers and compares options.
It also has internal AI tools such as Wally, which analyzes performance across products, channels and markets for buying merchants to more effectively diagnose stock performance.
Is WMT a Good Stock to Buy Now?
On TipRanks, WMT has a Strong Buy consensus based on 30 Buy ratings. Its highest price target is $127. WMT stock’s consensus price target is $113.86, implying a 14.20% upside.
