The Internet of Things (IoT) and Artificial Intelligence (AI) are the foundation of the next major shift in the retail technology landscape – the intelligent edge. Edge computing allows data to be accessed where it is created and enables business processes outside the core IT environment.   

Composable commerce is when retail businesses create modular architecture that can be made from interchangeable building blocks so that functionality can be added when it is needed. Retail CIOs can plug in new capabilities using APIs, microservices and other modular elements, or cluster existing services to create a new one.   

Every retail CIO faces the same challenge: how to maintain profitability in the face of perpetual disruption. The possible impact of persistent inflation is just the most recent addition to the profitability challenges faced by the retail industry since the start of the pandemic in 2020. 

The company that brought us the Kindle, Amazon Prime, and a world of hilarious reviews, will now also sell us products in brick and mortar department stores too.

McKinsey estimates the potential annual value of AI in the retail industry sits between £300 billion and £600 billion. It's clear the opportunity for companies is substantial.

But what exactly does thefuture of AIin retaillook like?