Orient Magazine Issue 81 - April 2021 - Page 51

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From store to table
According to Gartner , IoT , AI and Augmented Reality ( AR ) will accelerate the optimal mix of online and instore experiences in retail . Ultra-low latency 5G links will power the realtime processing of such high-volume customer data traffic in retail .
One-to-one conversations driven by customer data and real-time analytics are transforming retail revenue streams . For instance , AR-driven shopping experiences driven by live customer preference updates are in wide adoption across retail outlets . Such IoT implementations leverage app overlays on the store ’ s map to guide customers . With 5G as the enabler in the near future , these will be able to feature richer and even more interactive content . Highly personalised offers on the fly translate to an increase in instant purchase decisions , better in-store customer guidance and friction-free checkouts .
Today we have retail IoT applications like IoT-enabled shelves and warehouse management . These facilitates timely stock clearance and automatic replenishment to reduce wastage .
Grocery store robots in use by retail players like Woolworths ( Australia ), Giant and Stop & Shop clearly indicate IoT ’ s behind the scenes entry . These connected robots can leverage 5G networks to handle tasks ranging right from aisle cleaning to customer guidance .
Many of our F & B businesses can leverage IoT and 5G across the entire value chain . For instance , customer interactions can be optimally monetised using IoT-driven ordering and tracking capabilities . Or food safety policy can be adhered to via constant monitoring of key factors like temperature and humidity .
Streamline Supply Chains
Smart warehouses are in vogue among logistics players . A case in point is DHL ’ s Singapore facility , which utilises IoT sensor data to remotely track and manage shipments during transit . At the warehouse level , DHL also uses live IoT data like building occupancy , weather forecasts and activity levels to manage HVAC settings that deliver up to 40 % energy savings .
According to
Gartner , IoT , AI and Augmented Reality ( AR ) will accelerate the optimal mix of online and in-store experiences in retail . Ultra-low latency 5G links will power the realtime processing of such high-volume customer data traffic in retail .
FUTURE OF WORK :
IOT AND 5G SET TO TRANSFORM INDUSTRIES