Intel Unveils IoT Retail Platform, Plans Huge Investment

Intel has launched a new Internet of Things (IoT) retail platform and plans to invest more than $100 million during the next five years in the retail industry.

The Responsive Retail Platform (RRP) collects multiple data streams to connect digital and physical environments. With the goals of lowering costs and increasing sales, it aims to helping optimal inventory placement, deploying employees and other resources, and tracking inventory through the supply chain to the store door, according to Intel.

Ryan Parker, Intel’s head of responsive retail, tells Channel Partners the platform can be obtained from the company’s channel alliances, including Arrow Intelligent Systems, as well as current partners like Smartrac, Tyco Retail Solutions, Detego, Insight/Bluemetal, RIoT Insight and Fujitsu/Globeranger.

“This is one of those rare situations where it’s a win-win-win,” he said. “It’s a win for Intel, and a win for sensor vendors and ISVs because they don’t currently have access to the market. Overall, the Intel Responsive Retail Platform technology will provide retailers with a lot of choice and chance to seamlessly expand their ability to deliver the best customer experiences and grow their business.”

The platform provides in-the-moment information about what customers are buying, what they want and how to manage inventory so it arrives just in time for customers to take it home, Intel said.{ad}

“At Intel, we believe that increasingly retailers will be separated by those who have data and use it to grow and optimize the shopping experience, and those who don’t and make their decisions based on ‘experience’ and subjective observations,” said Brian Krzanich, the company’s CEO. “Used efficiently, data provides customers more control and retailers more information.”

The $100 million investment supports Intel’s “wider efforts to integrate aspects of IoT and other technologies like virtual reality and robotics into retail to address needs ranging from inventory management to checkout,” Parker said.

And data-centric tools are “just the start for where technology will take the retail experience,” Krzanich said.

“Virtual reality will help customers and retailers use data and analytics to maximize investment and impact in retail,” he 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.”