# IoT and the Future of the Retail Industry | Pensa's Richard Schwartz

- Show: [IoT For All Podcast](https://hardwarepodcasts.com/podcast/iot-for-all-podcast)
- Published: 2020-11-24
- Length: 32m
- Page: https://hardwarepodcasts.com/podcast/iot-for-all-podcast/2020-11-24-iot-and-the-future-of-the-retail-industry-pensas-richard-schwartz
- Listen: https://podcasters.spotify.com/pod/show/iot-for-all/episodes/IoT-and-the-Future-of-the-Retail-Industry--Pensas-Richard-Schwartz-e28bmqf

## Summary

Richard Schwartz, CEO and founder of Pensa Systems, explains how his company uses autonomous drones and mobile phone cameras with deep learning to solve the chronic problem of retail stockouts. He details the technology's ability to provide real-time shelf visibility to both retailers and consumer packaged goods brands, highlighting the immediate revenue ROI of keeping products in stock. Schwartz also discusses the broader impact of IoT and AI on retail logistics, noting that COVID-19 has accelerated the adoption of in-store automation and the blending of physical and e-commerce inventory systems.

## Chapters

- [0:00](https://hardwarepodcasts.com/podcast/iot-for-all-podcast/2020-11-24-iot-and-the-future-of-the-retail-industry-pensas-richard-schwartz#t=0) Introduction and Guest Background
- [2:51](https://hardwarepodcasts.com/podcast/iot-for-all-podcast/2020-11-24-iot-and-the-future-of-the-retail-industry-pensas-richard-schwartz#t=171) The Retail Stockout Problem and Pensa's Solution
- [5:08](https://hardwarepodcasts.com/podcast/iot-for-all-podcast/2020-11-24-iot-and-the-future-of-the-retail-industry-pensas-richard-schwartz#t=308) ROI and Data-as-a-Service Model
- [13:32](https://hardwarepodcasts.com/podcast/iot-for-all-podcast/2020-11-24-iot-and-the-future-of-the-retail-industry-pensas-richard-schwartz#t=812) Technology: Drones, Mobile Phones, and Deep Learning
- [21:07](https://hardwarepodcasts.com/podcast/iot-for-all-podcast/2020-11-24-iot-and-the-future-of-the-retail-industry-pensas-richard-schwartz#t=1267) Future of IoT in Retail and Logistics

## Topics

- [Connected products & IoT](https://hardwarepodcasts.com/topic/connected-products-and-iot)
- [AI & machine learning](https://hardwarepodcasts.com/topic/ai-and-machine-learning)
- [Direct-to-consumer & e-commerce](https://hardwarepodcasts.com/topic/direct-to-consumer)
- [Pricing, margins & unit economics](https://hardwarepodcasts.com/topic/pricing-and-unit-economics)

## Most relevant to

companies scaling up

## Mentioned

- Pensa Systems (company)
- Kiva Systems (company)
- Amazon Robotics (company)
- Stanford Research Institute (company)

## Related episodes from other shows

- [135. Retail Fights Back With Connected Tech 🛍](https://hardwarepodcasts.com/podcast/the-next-byte-podcast/2023-08-15-135-retail-fights-back-with-connected-tech) (The Next Byte Podcast)
- [Drones, AI and the Future of Inventory Monitoring w/ Sean Mitchell](https://hardwarepodcasts.com/podcast/the-manufacturing-executive/2023-07-04-drones-ai-and-the-future-of-inventory-monitoring-w-sean-mitchell) (The Manufacturing Executive)
- [The Rise Of Retail Robots With Simbe Robotics](https://hardwarepodcasts.com/podcast/over-the-air/2024-10-10-the-rise-of-retail-robots-with-simbe-robotics) (Over the Air)
- [Counting inventory with Nokia AIMS smart drone technology](https://hardwarepodcasts.com/podcast/the-robot-report-podcast/2024-08-30-counting-inventory-with-nokia-aims-smart-drone-technology) (The Robot Report Podcast)
- [Softbank distancing itself from Pepper, AutoStore's Mike Demko, robotics industry services](https://hardwarepodcasts.com/podcast/the-robot-report-podcast/2021-06-25-softbank-distancing-itself-from-pepper-autostores-mike-demko-robotics-industry-s) (The Robot Report Podcast)

## Citing this page

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