Chinese online retail giant JD.com this week teamed up with another U.S. tech giant company Intel to identify ways through which Internet of Things (IoT) can be used in the retail industry.
The duo revealed in a blog that they will soon set up a research lab that will help in bringing Internet-of-Things technology in retail. The lab will further explore the use of IoT by developing new-generation vending machines, media, and advertising solutions, next-generation retail applications to be used in futuristic stores by taking help from Intel’s architecture.
The recent announcement from the two big giants is an extension of an existing partnership between the two companies. According to reports, the recent partnership will notice the merger of Intel’s OpenVINO computer vision architecture and RRI edge computing with JD’s computer vision algorithms.
The output after the mergence will allow users of the technology to predict customer’s in-store purchasing habits, their movements, and their behavior. All this, in the end, will help store owners to provide more efficient and personalize the experience to their customers.
Zhi Weng, the vice president of JD.com and head of JD Big Data Platform commenting on the new initiative mentioned that “This lab will combine our collective strengths to develop cutting-edge solutions to bring the precision of online shopping to offline players.” He further added, “We look forward to expanding our cooperation with Intel to deliver a best-in-class, personalized shopping experience wherever consumers shop.”
The new lab will surely help JD.com to expand their business activities as it supports company’s vision of “retail as a service” and focuses on sharing its technological infrastructure and innovations with other industries and retailers. In addition to this, the company also aims at improving operation improvements in the retail industry by offering smart services such as smart shelving, checkout solutions, and smart price tags.
Earlier in June, Google made a multimillion-dollar investment in the retail giant and entered into a strategic partnership to break into the Chinese retail market and win new customers. The investment which accounts to $550 million was made by the search engine giant to offer high-quality personalized services to the consumers within the retail industry.