Sainsbury's Partners with Microsoft for AI-Driven Shopping; Aims for £1B Savings, 10% Profit Growth
May 18, 2024
J Sainsbury PLC and Microsoft Corp have entered a five-year partnership to leverage AI technology.
The collaboration is part of Sainsbury's growth strategy, 'Next Level Sainsbury's.'
Focus areas include enhancing online shopping interactions, improving search functions, and using real-time data for in-store processes like shelf replenishment.
Sainsbury's aims to achieve £1 billion in cost savings over three years.
Expectations are set for up to 10% profit growth this year.
Sainsbury's shares rose by 1.8% after the announcement.
Investor confidence is high in the partnership's potential for innovation and transformation.
Financial details of the collaboration were not disclosed.
Summary based on 5 sources
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Sources

RTÉ • May 17, 2024
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Morningstar, Inc. • May 17, 2024
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