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As retailers around the world grapple with inflationary pressure, a Walmart (WMT) executive says technology will play a critical role in helping keep prices low. Suresh Kumar, Walmart’s chief technology officer and chief development officer, said in an interview with Yahoo Finance Canada that the deployment of technology in-stores, online and throughout the supply chain will be critical for the company, particularly in today’s economic environment. “Our mission is to help people save money so they can live better lives, and technology is not just an important part of that, it is in fact critical,” Kumar said at the 2022 Collision tech conference. “It's a critical enabler of us being able to meet that promise and to be able to fulfill that. Especially in this inflationary environment, it becomes really important to make sure that we can drive efficiencies in our system.” For example, Kumar points to the rollout of Mobius, technology that simulates the process of getting a good from the manufacturer to the Walmart shelf or customer’s home to determine what is the most efficient way to move that product. The company is also working on deploying technology both in-store and online to make shopping more convenient for customers. “We want to make sure technology is there to make the shopping experience as seamless and as friction-free as possible,” he said. As it continues to invest in technology, Walmart is also increasing its presence in Toronto. The retail giant announced in March that it will expand its engineering hub in Toronto, hiring several hundred new workers over the next 12-months. Kumar said the company sees Toronto as being “one of the big tech hubs” for Walmart. “Toronto has got incredible talent,” he said. “There are lots and lots of universities and lots and lots of great talent that’s available within Toronto. And so that’s the reason why we are here… We really want to double down on the investment in Toronto.” Alicja Siekierska is a senior reporter at Yahoo Finance Canada. Follow her on Twitter @alicjawithaj. Download the Yahoo Finance app, available for Apple and Android.