Smart Retail: The Convergence of IoT and AI in the Future of Commerce

Abstract

This study aims to assess the likelihood that the retail sector will change due to the convergence of artificial intelligence (AI) and the Internet of Things (IoT). Thus, the convergence of several technologies is leading to the emergence of intelligent retail environments. It is feasible to reach previously unattainable levels of automation, customization, and efficiency with these combinations. It is now possible to seamlessly gather data from a wide range of linked devices with the aid of the Internet of Things. After that, artificial intelligence assesses this data to offer insightful analysis and enhance decision-making procedures. The future of commerce will be transformed by the convergence of these two factors, which will lead to breakthroughs in supply chain optimization, inventory management, and customer experience. The paper illustrates how smart retail solutions are helping to create a retail environment that is more responsive and adaptive by analyzing the latest trends and use cases. Organizations that put these ideas into practice gain the ability to anticipate client needs and optimize internal procedures. The study's findings suggest that combining artificial intelligence with the Internet of Things.