Retailers, big and small, have been hit by the plague of retail theft, with companies losing billions due to inventory shrinkage. In addition, retailers felt the increased pressure as economic headwinds mounted for both retailers and consumers, from higher interest rates and inflation. Oliver Chen, TD Cowen Senior Research Analyst, joins Yahoo Finance for the #6 Story of the Year and to discuss the state of the consumer and how companies like Walmart (WMT) are harnessing the power of AI. Chen named Walmart his "best idea" for 2024, giving three reasons why: "We also like that what we call the new nexus, meaning Walmart using artificial intelligence, Walmart using marketplace models, and Walmart embracing digital advertising. So, those three factors, digital advertising, marketplaces, artificial intelligence, they are key to long-term better operating margins. AI will play a big role during purchase, before purchase, after purchase." For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.

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