Intel announced that it is planning to invest more than $100 million over the next five years in the retail industry to support and integrate Internet of Things (IoT) and other technologies into retail. Alongside, it has collaborated with Honeywell to develop new IoT solutions for the retail industry to enhance logistics, improve inventory visibility, and drive supply chain efficiencies.
At the Retail’s Big Show, Intel’s CEO, Brian Krzanich highlighted important role of data and smart and connected solutions in transforming the retail industry, and the continuation of the company’s commitment to expand the boundaries of technology to make things possible.
- Simbe Robotics’ Tally: Tally works with retail associates by providing them with information to ensure that store’s products are always stocked, in the right place and displaying the correct price tag. The robot operates safely during normal store hours alongside shoppers and employees, and doesn’t require any infrastructure changes to the store. It is powered by an Intel Cor i7 processor-based Intel NUC and uses a number of Intel RealSense cameras to help understand the world around it and navigate the store safely.
- Intel Responsive Retail Platform: Krzanich introduced Intel Responsive Retail Platform (Intel RRP), a new horizontal platform that fosters the creation of highly flexible, scalable and innovative solutions, by bringing together retail hardware, software, APIs and sensors in a standardized way.
- Investment in Retail: Intel also plans to invest more than $100 million over the next five years in the retail industry to integrate Internet of Things and other technologies into retail from inventory management to checkout. The investment will enable retailers to unify every part of the retail operation and solve longstanding business challenges.
The company has also showcased new intelligent retail demos, including the latest technology for on-demand, in-store 3D knitting; real-time, data-driven clothing and shoe matching platforms to complete the look; and interactive product displays designed to more deeply engage customers.
Intel announced a collaboration with Honeywell for a conglomerate that looks into the development of new IoT solutions, aiming to enhance logistics, improve inventory visibility and drive supply chain efficiencies.
“Technology can help transform retail, making stores more responsive to customer needs by connecting physical and digital retail environments,” said Joe Jensen, Vice President and General Manager, Retail Solutions Division, Intel.
“By working with Honeywell, Intel plans to enable retailers to benefit from IoT solutions by having the visibility of real-time accuracy of on-shelf inventory. This will help delight shoppers with better inventory accuracy and in-store pickup of products ordered online,” he added.
The partnership will also focus on solutions that utilize the both companies’ technology offerings, including sensors, handheld computers, processors, bar code scanners, RFID tags and readers and cloud-based software to track, monitor and assess the condition of goods moving through the supply chain as well as in brick-and-mortar stores.