Home Depot Launches AI Material Planner

- The tool is designed for professional contractors, remodelers, and builders, a customer segment that accounts for about half of Home Depot's annual sales. It is available for free to members of Pro Xtra, Home Depot's loyalty program for professionals. - Users can input project details by typing in natural language, using voice-to-text on a job site, or pasting existing lists from documents and emails. The AI then generates a categorized list of required materials, which users can edit before ordering. - This tool is part of a larger focus on professional customers, which includes the AI-powered "Blueprint Takeoffs" service that creates material lists from project blueprints for a fee. - The launch follows Home Depot's introduction of a consumer-facing AI tool called "Magic Apron," which assists DIY customers with project questions and product recommendations on the company's website and mobile app. - Competitor Lowe's has also been developing AI tools for both professionals and DIY customers, including an AI-powered adviser named "Mylow" and AI technology for blueprint takeoffs. - This focus on AI is backed by a $150 million venture capital fund, Home Depot Ventures, established in 2022 to invest in emerging technologies for retail and home improvement. - The AI tool is a key part of the company's strategy to create a comprehensive "Pro ecosystem" to attract and retain professional customers, a strategy that also includes the roughly $18.3 billion acquisition of SRS Distribution, a specialty trade distributor. - According to Mike Rowe, executive vice president of Pro for The Home Depot, the primary goal of the Material List Builder AI is to save professionals time, which they identify as their most valuable resource.