Here's How Walmart Is Using Artificial Intelligence to Keep Prices Low

Major retailers have a lot of power over vendors. A chain like Walmart (NYSE: WMT) can, for example, go to a medium-sized vendor and ask it to cut prices by 2% or lose some of its shelf space.

That's typical and it helps keeps prices low for consumers. It's also challenging to keep track of for a company operating on the scale Walmart does. To help with that, the retail giant has reached a deal to pilot technology from Pactum to help it negotiate contracts with some of its vendors.

A Walmart before the time of social distancing. Image source: Walmart.

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Source Fool.com