The Future of Retail Technology
Based on a recent study, an investment-management company predicted the technology transformations for the next two decades in the retail landscape. From payment technology to virtual reality, the prediction report covers about 12 growing tech trends that can have a broad impact on the retail sector. Take a look at some of the most promising tech trends according to the report:
The report notes that, as technology evolves, the role of Apple Pay and Google play, who are the leaders today might diminish. The report also estimates that the total transaction value of mobile payments will reach around 210 billion dollars by 2019. Moreover, smartphone payment could allow employees to spend less time behind checkout counters and more time in stocking shelves and to assist customers.
Check this out: 20 Most Promising Retail Solution Providers 2018
GEO Fencing is an innovative technology that allows retail businesses to access consumer information from their mobile device as soon as the customer enters a digitally marked area. With GEO Fencing, retailers can identify what consumers are interested in while visiting the retail store. The report highlighted GEO Fencing technology as something that could become more extensively adopted in the upcoming years.
The impact of AI in every business is harder to quantify. As per the report, AI will make its way into the retail sector and dominate it in the next ten years. The report also says about the already clear way to use AI through dynamic pricing, similar to Uber’s surge-pricing model.
The report also remarks about the drone delivery trend that is not in pace in the retail sector today. As per the report, the drone-delivery pattern looks like it will take longer to be widespread. It says that the more significant impact will be on supply chain logistics, but it won’t be felt for 15 to 20 years.
"Chatbots: Transforming Retail Sector"
By Tom Farrah, CIO & SVP, Dr Pepper Snapple Group
By George Evans, CIO, Singing River Health System
By John Kamin, EVP and CIO, Old National Bancorp
By Phil Jordan, CIO, Telefonica
By Elliot Garbus, VP-IoT Solutions Group & GM-Automotive...
By Dennis Hodges, CIO, Inteva Products
By Bill Krivoshik, SVP & CIO, Time Warner Inc.
By Gregory Morrison, SVP & CIO, Cox Enterprises
By Alberto Ruocco, CIO, American Electric Power
By Sam Lamonica, CIO & VP Information Systems, Rosendin...
By Sven Gerjets, SVP-IT, DIRECTV
By Marie Blake, EVP & CCO, BankUnited
By Lowell Gilvin, Chief Process Officer, Jabil
By Walter Carvalho, VP & Corporate CIO, Carnival Corporation
By Mary Alice Annecharico, SVP & CIO, Henry Ford Health System
By Bernd Schlotter, President of Services, Unify
By Bob Fecteau, CIO, SAIC
By Jason Alan Snyder, CTO, Momentum Worldwide
By Jim Whitehurst, CEO, Red Hat
By Marc Jones, Distinguished Engineer, IBM Cloud Infrastructure