As reported by Reuters- LONDON (Reuters) – Sainsbury’s, a British grocery chain, announced on Friday that it and Microsoft had reached a five-year strategic agreement. The relationship would leverage Microsoft’s artificial intelligence skills and the retail group’s extensive data.
More shops are utilizing generative AI to improve tailored shopping experiences for customers and streamline staff working procedures in an effort to increase revenue and reduce costs.
Sainsbury’s, the second-biggest grocery store in Britain after Tesco, said that it would employ artificial intelligence (AI) to enhance search capabilities and make online shopping more engaging for customers.
In stores, staff would receive real-time data and insights for important procedures, such as shelf restocking.
Sainsbury’s indicated that there would be a decrease in the time it took to market new services and product developments.
There was no disclosure of the partnership’s finances.
In February, Sainsbury’s provided the market with an update on its plans, announcing a new goal of 1 billion pounds ($1.3 billion) in cost savings over three years as well as a commitment to increase shareholder returns.
It predicted last month that profits would rise by up to 10% for the current fiscal year, which started on March 3. It is optimistic that it can keep gaining clients from competitors.
$1 equals 0.7895 pounds.
