Project Management as a Service

Edge computing, 5G, IoT and AI are contributing to a paradigm shift in retail that will imagine new possibilities made commercially viable by real-time data processing. In this article, we look at the convergence of these technologies and how they will offer a radical new vision of our high street by offering customers exciting new experiences that can rejuvenate in-store shopping and retail spaces. First, in Part 1, we look briefly at each technology and discuss the technical advantages they offer and how this supports new types of customer experience. Then in Part 2 we look at industry predictions about how the retail space might evolve over the next decade. Part I Edge Computing Edge computing involves processing data near its source rather than in a centralised location. In retail, this means deploying IT infrastructure in or near store venues where consumers interact with products. This ecosystem enables real-time decision-making and personalised customer experiences by analysing data from sensors and IoT devices within the store. Edge computing is a concept that applies to an integrated network of processing units, data centres and sensors that handle data close to the user. Micro Data Centres The compute part of edge computing needs to be housed in proper data centre facilities, to ensure that the expensive server equipment, especially those used by AI systems, are kept in the optimum conditions — this helps keep maintenance and operational costs down. Even though edge compute systems can be relatively compact, retailers will mostly be unwilling to give up valuable floor space for the IT equipment and its associated infrastructure (like cooling and electrical systems), so the more likely scenario is that smaller data centres will be used that can be located close by but in back-of-house areas, such as loading bays, car parks, warehouse areas and so on. These will often be operated as cloud services so that multiple retailers can benefit from edge compute without having to bear the upfront capital cost, and, most importantly, the ongoing maintenance required to keep them operational. 5G 5G networks offer high-speed connectivity and low latency, which are crucial for supporting advanced retail technologies like augmented reality (AR) and Internet of Things (IoT) applications. The increased bandwidth allows for seamless integration of online and offline shopping experiences, enabling features like virtual try-ons and real-time product comparisons. This connectivity supports personalised marketing strategies that take place in real time and deliver targeted promotions in store. Internet of Things (IoT) The Internet of Things (IoT) refers to a network of interconnected devices, machines, and sensors that collect, store, and transfer data over the internet. These devices are embedded with sensors, software, and network connectivity, allowing them to communicate with each other and with other internet-enabled systems. IoT plays a crucial role in enhancing the retail experience by providing real-time data on customer behaviours, security risks, buying preferences, inventory supply levels and daily operations. IoT devices will principally include cameras but also a range of other sensors such as RFID tags and smart shelves.