Abstract
Rapid developments in technology are causing a revolution in retail. In order to remain competitive and enhance the shopping experience for customers, retailers are utilizing new technologies. These technical advancements are helping retailers to stay ahead of the competition, retailers are increasingly using Artificial Intelligence of Things (AIoT) to help them comprehend the millions of data points that are present in their stores and transform them into useful information that will enable them to align the business more quickly and effectively for the required changes. At a staggering CAGR of 21.8%, the smart retail market is expected to rise at a quick pace, from roughly $35.4 billion in 2023 to $140.6 billion by 2030. This chapter illustrates how retail establishments can benefit from a potent digital transformation experience through the combination of AI & IoT (AIoT). Additionally, this chapter explores the advantages, difficulties, and prospects of AIoT in consumer insights and smart retailing, emphasizing its influence on the direction of the retail sector.
| Original language | English |
|---|---|
| Title of host publication | Merging Artificial Intelligence With the Internet of Things |
| Editors | Muhammad Usman Tariq |
| Publisher | IGI Global Publishing |
| Chapter | 13 |
| Pages | 397-430 |
| Number of pages | 34 |
| ISBN (Electronic) | 9798369385487 |
| ISBN (Print) | 9798369385470, 9798369385517 |
| DOIs | |
| Publication status | Published - 9 May 2025 |