Market Chatter: Walmart Obtains Patents to Automate Pricing With Machine Learning

MT Newswires Live
Mar 19

Walmart (WMT) has obtained new US patents for machine learning-based pricing tools, the Financial Times reported Wednesday.

According to the report, the retailer secured a patent in January for a system that automatically updates prices for markdowns in its e-commerce unit, and another last week that uses machine learning to forecast demand and suggest pricing.

Walmart said the technologies are not intended for dynamic pricing, stressing that they support merchant decision-making and markdown management rather than automatically changing prices in real time, the Financial Times added.

Walmart did not immediately respond to MT Newswires' request for comment.

Shares of the company were down 2.2% in Wednesday trading.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 122.40, Change: -2.68, Percent Change: -2.14

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10