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Walmart has secured patents for systems that use machine learning to forecast demand and automate pricing decisions, “pushing the U.S. retail behemoth into a debate over the use of algorithms to adjust product costs,” reports the Financial Times. From the report: In January Walmart obtained a U.S. patent for a “system and method for dynamically and automatically updating item prices” to carry out markdowns in its ecommerce unit, a rapidly growing division that generated…
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Walmart has secured patents for systems that use machine learning to forecast demand and automate pricing decisions, “pushing the U.S. retail behemoth into a debate over the use of algorithms to adjust product costs,” reports the Financial Times. From the report: In January Walmart obtained a U.S. patent for a “system and method for dynamically and automatically updating item prices” to carry out markdowns in its ecommerce unit, a rapidly growing division that generated…
We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.
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