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January 17, 2017updated 25 Jan 2017 3:20pm

Intel plans IoT shopping spree with $100m retail tech investment

Intel has launched a new Internet of Things retail platform, together with a plan to invest over $100m in the sector over the next five years.

By CBR Staff Writer

Intel has launched a new Internet of Things (IoT) retail platform, which intends to make shopping easier by tracking store inventory and responding to customer requirements in real time.

The Intel Responsive Retail Platform (Intel RRP), which was unveiled at the National Retail Federation (NRF) show being held in New York, works to bring together retail hardware, software, APIs, and sensors in a standardised way.

It gathers various data streams to connect digital and physical environments.  The platform features three components that include a sensor array, gateway to process sensor data and an open-source analytics platform on the cloud.Intel IoT retail investment

The platform aims to reduce costs and increase sales. Intel said it helps optimally place inventory, deploy employees and other resources, and track inventory – through the supply chain to the store door.

Intel is partnering with an ecosystem of retailers to deploy the platform, including Avery Dennison, ByReveal, Honeywell, Fujitsu, JDA, RetailNext, SAP and SATO.

The chipmaker is also planning to invest more than $100m over the next five years in the retail industry to support its efforts to integrate aspects of IoT and other technologies like virtual reality and robotics to address needs ranging from inventory management to checkout.

At the NRF show, Intel also demonstrated its robotic autonomous shelf auditing and analytics solution for shops.

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The solution, Simbe Robotics’ Tally, works in concert with retail associates by giving them with information to make sure that the store’s products are always stocked at the right place with correct price tag.

Intel CEO Brian Krzanich said: “With technology like robots and artificial intelligence to free up employees, every aspect of the store and supply chain will allow retail employees to better focus on the customer and improve the store’s performance.

“We’re developing technologies that will help transform the shopping experience in the near future. By bringing together virtual reality and the power of data, we’ll help create the store of the future – one that is smart, responsive, connected and secure.”

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