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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Canadian Tire Corp | TSX:CTC | Toronto | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 6.00 | 2.45% | 251.00 | 241.86 | 251.00 | 251.00 | 246.06 | 246.06 | 442 | 18:03:11 |
From May 2023 to May 2024
By Adriano Marchese
Canadian Tire has signed a partnership agreement with Microsoft which will see its cloud computing and AI platforms used to modernize the retailer's systems and infrastructure.
On Thursday, the two companies said in a joint statement that the partnership has a seven-year timeline in which the Canadian retailer will migrate the majority of its IT infrastructure onto the Microsoft Azure platform.
Canadian Tire expects the new digital capabilities will support the company through new technologies, including through the use of AI, as well as to tap into Microsoft's technological expertise.
Canadian Tire and Microsoft also said another aim will be to explore innovative opportunities that leverage AI and machine learning toward improving customer experience, as well as optimize operations and unlock new opportunities for Canadian retail.
"Canadian Tire Corporation's partnership with Microsoft will enable us to further modernize our capabilities and systems, rapidly expediting our digital transformation and adaptability, a key component of our growth strategy," Canadian Tire President and Chief Executive Greg Hicks said.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
June 22, 2023 08:34 ET (12:34 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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