'We find them solutions': Shoprite says it's using AI to help keep prices low for the poor

In its bid to extend a protracted period of market share gains, Shoprite is now using the latest artificial intelligence (AI) technology to help its buyers balance prices and volumes.

CEO Pieter Engelbrecht said on Tuesday the retailer had just recently implemented an AI pricing tool and has an enormous amount of data – some 12 petabytes – available on the shopping habits of its customer.

This latest technology, along with the 5 000 data points on each customer provided by such programmes as its Xstrasavings rewards card, has already helped the company to continue to deliver strong financial results, said Engelbrecht.