Microsoft and Sainsbury’s, a British grocery chain, established a five-year strategic agreement on Friday stating that the technological company’s artificial intelligence capabilities and the retail group’s vast data will be utilized in this relationship.
A five-year strategic relationship between Microsoft (MSFT.O) and Sainsbury’s (SBRY.L), a British grocery chain, was announced on Friday. The partnership will leverage the technology company’s artificial intelligence capabilities and the retail group’s extensive data.
More shops are utilizing generative AI to improve customized shopping experiences for customers and streamline staff working procedures in an effort to increase revenue and reduce costs.
The second-biggest grocery store in Britain, Sainsbury’s (TSCO.L), announced that it would employ artificial intelligence (AI) to enhance search capabilities and make online shopping more engaging for customers.
Employees in stores would have access to real-time information and insights for crucial tasks like stock replenishment.
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 gave the market an update on its plans, promising to increase returns for shareholders and announcing a new cost-savings target of 1 billion pounds ($1.3 billion) over three years.
It was 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.
Also read: Unveiling the Ethical Imperatives: Navigating the Intersection of AI and Cybersecurity
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