Best Buy names Jason Bonfig as new CEO, prioritizing AI to compete with Amazon and Walmart

Best Buy announced Jason Bonfig, an internal executive, will replace longtime CEO Corie Barry on October 31. Bonfig outlined three AI priorities for the electronics retailer, signaling the company's strategy to stay competitive in a market where Amazon and Walmart are aggressively integrating AI into shopping and logistics.

Bonfig's focus areas center on using AI to improve customer shopping experiences (like personalized product recommendations), streamline store operations (automating inventory and checkout), and enhance employee tools—moving Best Buy from a traditional retail model toward one where AI handles routine tasks so staff can focus on complex customer needs.

For Best Buy shoppers and employees, this means faster checkouts, smarter product suggestions tailored to your purchase history, and staff who can spend less time on paperwork and more time solving technical problems—the areas where human expertise still beats AI. For investors, it signals Best Buy is fighting to avoid becoming obsolete against bigger competitors who can afford massive AI investments.