Future of Business: Walmart’s CEO on AI, Jobs, and Managing Rapid Change

In this HBR IdeaCast episode, host Adi Ignatius interviews Doug McMillon, the CEO of Walmart, about the company's strategies for staying competitive in a rapidly changing business environment. McMillon discusses Walmart's approach to AI, focusing on growth and improving the e-commerce experience, while also addressing concerns about employment changes and the importance of upskilling the workforce. He emphasizes the company's commitment to its purpose of saving people money and helping them live better, even amidst profit pressures, and shares how Walmart has managed supply chain shocks and tariffs by trusting and empowering its associates. McMillon also reflects on the importance of adapting to perpetual transformation, maintaining core values, and embracing change to better serve customers and associates.

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HBR IdeaCast

Introduction to Walmart's Leadership and AI Strategy

AI's Impact on E-commerce and Walmart's Purpose-Driven Evolution

Balancing Purpose and Profit Pressures at Walmart

Navigating Supply Chain Shocks and Tariffs

Handling Uncertainty in Tariff Planning

Sustaining Transformation as an Evolving Capability

Adapting to AI: Responsibility and Resource Allocation

Upskilling the Workforce for an AI-Integrated Future

Navigating Environmental and Social Expectations

Advice for Leaders Leading Major Transformations

AI, Change Management, and the Importance of Honesty

Conclusion and Future Episodes

Future of Business: Walmart’s CEO on AI, Jobs, and Managing Rapid Change

HBR IdeaCast

00:10Introduction to Walmart's Leadership and AI Strategy

Introduction to Walmart's Leadership and AI Strategy

02:30AI's Impact on E-commerce and Walmart's Purpose-Driven Evolution

AI's Impact on E-commerce and Walmart's Purpose-Driven Evolution

05:33Balancing Purpose and Profit Pressures at Walmart

Balancing Purpose and Profit Pressures at Walmart

08:03Navigating Supply Chain Shocks and Tariffs

Navigating Supply Chain Shocks and Tariffs

11:15Handling Uncertainty in Tariff Planning

Handling Uncertainty in Tariff Planning

13:03Sustaining Transformation as an Evolving Capability

Sustaining Transformation as an Evolving Capability

15:57Adapting to AI: Responsibility and Resource Allocation

Adapting to AI: Responsibility and Resource Allocation

19:39Upskilling the Workforce for an AI-Integrated Future

Upskilling the Workforce for an AI-Integrated Future

22:20Navigating Environmental and Social Expectations

Navigating Environmental and Social Expectations

25:11Advice for Leaders Leading Major Transformations

Advice for Leaders Leading Major Transformations

27:41AI, Change Management, and the Importance of Honesty

AI, Change Management, and the Importance of Honesty

30:17Conclusion and Future Episodes

Conclusion and Future Episodes