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The Internet of Things: Revolutionizing the Retail Industry
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Article | February 19, 2020
Your industry is unique. Chances are, it even has its own language. That’s why you want information geared toward your unique sector. At IBM, we have deep industry expertise that we’ve curated into specialized teams focused to cognitive technology in vertical spaces. This year, we’re proud to host Industry Day at IoT Exchange for the Automotive, Aerospace & Defense and Electronics industries. Industry Day at IoT Exchange 2020 features tailored activities across three industry workgroups. Clients who are under the IBM Feedback Program Agreement (FPA) can meet with IBM leaders to share best practices and experiences, and to help shape the future of IBM industry solutions. These user groups provide you the opportunity to influence the direction for emerging technology. Note: this is not a general admission program. So if you’d like to participate, you’ll want to complete the contact form. A member of our client programs team will contact you.
As professionals in the emerging tech space, we are well aware of the many benefits of the Internet of Things (IoT), augmented and virtual reality (AR, VR), artificial intelligence (AI), and drones and robotics. Therefore, we cannot help but wonder: What if most of the emerging technologies were widely available already now that we are going through the COVID-19 pandemic? How much different the fight would be today? If anything, they would have kept us better prepared to combat the virus outbreak and go through it with minimum sacrifices of our jobs and daily lives. We have identified ten such use cases that can help humanity progress today and in the coming months or years.
For businesses, the transformative power of IoT is increasingly significant with the promise of improving operational efficiency and visibility, while reducing costs.
However, IoT does not come without risks and challenges. While concerns over security and data privacy continue to rise, the lack of IoT standards remains one of the biggest hurdles. The increasing number of legacy, single-vendor, and proprietary solutions cause problems with disparate systems, data silos and security gaps. As IoT successes become more dependent on seamless interoperability and data-sharing among different systems, we want to avoid the scenario of a fragmented market with numerous solutions that simply don’t work with each other.
Artificial intelligence (AI) has existed in the public consciousness for decades. The (mostly) sentient machines playing the villains in Hollywood movies have never been realistic depictions of the technology, but they have left an impression, nonetheless. AI has proved as exciting to the layman as it is to the expert. Usually based in remote data centers, AI is capable of collecting and examining immense volumes of data, generating insights based on analytical algorithms. With varying degrees of autonomy, these capabilities have been put to use streamlining decision-making processes. While AI is often thought of as a product in its own right, it is increasingly intersecting with other parallel trends. Chief among these is the Internet of things (IoT), which enables previously isolated machines to “talk” to one another and, at the same time, generate data that makes new modes of operation a possibility.
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