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March 22, 2017
NEW YORK (AP) — Wal-Mart is launching an incubator lab focused on projects in robotics, virtual and augmented reality and artificial intelligence as it aims to compete more aggressively with Amazon.
The so-called Store No. 8 will be located in Silicon Valley and marks the latest attempt by the company's new head of e-commerce operations Marc Lore to speed up innovation at the company. Wal-Mart Stores Inc., based in Bentonville, Arkansas, brought over Lore, founder of Jet.com, when the discounter bought the online retailer last year for more than $3 billion and has been on an acquisition binge since then.
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