Culture

Intel wants to change the way you shop in stores

The chipmaker plans to invest $100 million to bring internet-of-things tech to the retail industry.

Intel is focusing on the internet of things, the concept of connecting everyday objects to the web and to one another.

Frederic J. Brown/AFP/Getty Images

Intel wants to use the internet of things to improve the experience of shopping in stores. You know, actual brick-and-mortar stores. Remember those?

Intel plans to invest more than $100 million over the next five years in a new platform that uses data and connected tech to help retailers boost sales and cut costs, the chipmaker said Monday at the National Retail Federation's trade show in New York. The platform, dubbed the Intel Responsive Retail Platform, brings together "retail hardware, software, APIs and sensors in a standardized way," the company said in a release. It will help retailers do things like track inventory, schedule employees and created personalized experiences for customers.

At the trade show, Intel CEO Brian Krzanich demonstrated how retailers can use virtual reality to create better experiences for customers, such as being able to access 3D store models on your phone or pull up a virtual version of your home when shopping for furniture, according to the National Retail Federation.

Intel didn't immediately return a request for comment.

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