Walmart Partners with OpenAI: "Product Purchases Now Available on ChatGPT"

Walmart Stock Hits All-Time High

American consumers will soon be able to purchase Walmart products through OpenAI's artificial intelligence (AI) chatbot, ChatGPT. As Walmart, the largest retailer in the United States, partners with OpenAI, AI technology is set to rapidly expand across the retail industry.

Reuters Yonhap News

On October 14 (local time), Walmart announced that, through its partnership with OpenAI, its customers will be able to complete purchases of Walmart products directly within the ChatGPT platform. However, Walmart did not specify when this feature would actually become available.

Walmart explained that, in the future, consumers will be able to use the "Instant Checkout" feature on ChatGPT. Previously, at the end of last month, OpenAI announced the introduction of the instant checkout feature within ChatGPT for the first time, stating that it would initially be applied to the American e-commerce platform Etsy and the Canada-based e-commerce platform Shopify. Regarding this, CNBC reported, "OpenAI has stated that it will receive fees from companies for transactions made through ChatGPT," adding, "The instant checkout feature is expected to become a new revenue source for OpenAI."

Regarding the use of AI in its services, Walmart stated, "The future of retail is not about replacing humans with machines, but about leveraging AI to eliminate inconvenience and make everyday moments smarter and more enjoyable. Whether it's meal planning, restocking household essentials, or discovering new products, customers will be able to shop through conversations with the chatbot. Walmart will handle the rest."

Doug McMillon, Chairman and CEO of Walmart, said, "For years, e-commerce shopping has been about search bars and endless product lists. But now, that is beginning to change. A personalized AI shopping experience based on multimedia is emerging."

Michael Lasser, an analyst at global investment bank UBS, commented, "Walmart is adopting new technologies early to keep pace with changing consumer trends," and analyzed, "This partnership will provide Walmart with additional growth and differentiation compared to other retailers."

Following this news, Walmart's stock price on the New York Stock Exchange hit an all-time high, closing at $107.21, up 4.98% from the previous trading day.