6 ways IoT is transforming retail

FREDRIC PAUL | November 28, 2018

article image
In the wake of Black Friday and Cyber Monday, this seems like the perfect time to look some of the many ways that the Internet of Things (IoT) is transforming the world of retail. The IoT is already in use in stores around the world, and according to estimates from Grand View Research, retail IoT could be a $94 billion market by 2025. Here are a half dozen ways that might come to pass: Cashiers are toast. From the expansion of Amazon Go and similar stores such as Zippin — which forego checkout lines in favor of apps — to scrappy startups looking to replace cashiers with cameras in all kinds of stores, the days of the traditional cashier standing behind a cash register are numbered. What’s behind this shift? Well, cashiers cost money, few shoppers really like dealing with them, and long, slow-moving lines drop that number to something approaching zero. At the very least, expect mobile point-of-sale (POS) terminals to proliferate in place of stationary cashiers. Retail management gets easier. Sure, online shopping is taking ever-bigger bites out of brick-and-mortar shopping, but the IoT also helps traditional stores modernize their operations, better managing inventory with technologies such as “smart shelves,” reducing shrinkage, and streamlining the supply chain.

Spotlight

Streetline

Streetline is a leading smart parking company delivering smart data and advanced analytics to solve parking issues for customers worldwide. Streetline’s pioneering technology makes the parking experience for consumers easier, while making cities and university campuses more efficient. Through sound level and road surface temperature sensing capabilities, Streetline will soon help cities and universities to further enhance their ‘smart city’ or ‘smart campus’ initiatives. Our vision is simple—to solve parking and make smart cities a reality. Streetline is a privately-held company headquartered in Foster City, CA with smart parking deployments in the United States, Canada, and Europe. The company has captured over 250 million parking events since its first go-to-market in 2008, was named one of Fast Company’s 10 Most Innovative Companies in Transportation, as well as IBM Global Entrepreneur of the Year. Streetline was named Best Mobile Innovation for ‘Smart Cities’ for Parker at the 2013

OTHER ARTICLES

AI + IoT = Automating and Analyzing Data Collection

Article | February 18, 2020

IoT is huge, but AI has the potential to supercharge the technology even more. Gartner predicts that this year 80 percent of all enterprise IoT projects will include AI. One area where many have been critical of IoT is a lack of good security. When coupled with AI, that could be improved, but some worry that AI can also be used as a tool to defeat IoT security. Dean Chester, cybersecurity author, wrote that “AI can be used for IoT security, or it can be used against it.”Melvin Greer, Chief Data Scientist, Intel Americas , said that “AI and IoT are no longer in separate swim lanes. AI closes the loop in an IoT environment where IoT devices gather or create data, and AI helps automate important choices and actions based on that data. Today, most organizations using IoT are only at the first ‘visibility’ phase where they can start to see what’s going on through IoT assets. But they’re moving toward the reliability, efficiency and production phases, which are more sophisticated and require stronger AI capabilities.

Read More

Hitachi, Infineon promote IoT tech for viral detection

Article | April 16, 2020

Tech companies are stepping up Internet of Things technologies to protect against COVID-19 and future viruses by using LiDAR and infrared cameras to detect a person’s body temperature from a distance or even handwashing. Keeping the data secure in such detection is also going to be a challenge. One approach is to put a chip inside an IoT device when it is manufactured to enable strong authentication and secure communication, mainly to guard against device counterfeiting. Hitachi Vantara has touted forward looking infrared cameras (FLIR) cameras to detect the temperature of a person from a distance. That way a passenger on a train or a worker or a customer in a store can be non-intrusively screened, according to a blog from Mark Jules, global vice president of smart spaces and video intelligence.

Read More

Four ways to ensure IoT success

Article | April 15, 2020

Three out of four IoT projects are considered a failure, according to Cisco. This is troubling but even more so when Cisco also found 61 per cent of companies say they believe they’ve barely begun to scratch the surface of IoT can do for their business? Businesses believe in the long-term value offered by integrating IoT into their business plan, however, they lack the knowledge of what is required to ensure the success of such a complex project. By studying past failed projects, technology leaders can gain a better understanding of why they failed and what they can do differently when evaluating and undertaking new IoT initiatives.

Read More

HERE’S WHY SMART IOT IS FUTURE

Article | February 15, 2020

The term ‘connectivity’ is no more confined to laptops and smartphones, as we’re witnessing a transition towards smart cities, smart homes, smart retail, connected cars along with connected healthcare to name a few. In this arena where advanced technologies have been blooming at a tremendous rate, IoT is also catching up. IoT has been one such technology that is going to have an impact not only today but also in the coming future. The base for IoT is designed for storing and processing IoT data and is the core of all IoT-related devices and solutions. The base has been set in such a way that it provides an intake of huge volumes of data generated by sensors, user websites, applications and then accordingly initiates actions based on real-time responses and analytics.

Read More

Spotlight

Streetline

Streetline is a leading smart parking company delivering smart data and advanced analytics to solve parking issues for customers worldwide. Streetline’s pioneering technology makes the parking experience for consumers easier, while making cities and university campuses more efficient. Through sound level and road surface temperature sensing capabilities, Streetline will soon help cities and universities to further enhance their ‘smart city’ or ‘smart campus’ initiatives. Our vision is simple—to solve parking and make smart cities a reality. Streetline is a privately-held company headquartered in Foster City, CA with smart parking deployments in the United States, Canada, and Europe. The company has captured over 250 million parking events since its first go-to-market in 2008, was named one of Fast Company’s 10 Most Innovative Companies in Transportation, as well as IBM Global Entrepreneur of the Year. Streetline was named Best Mobile Innovation for ‘Smart Cities’ for Parker at the 2013

Events