Computer Vision Paves the Way for Retail Vision 2020




Enhanced customer experiences, more accurate supply chains—all made possible with computer vision and AI

As we go into a new decade, savvy and visionary retailers will find new ways to bring new levels of efficiency and customer engagement to every touchpoint in the retail experience. They’ll achieve this through artificial intelligence (AI), computer vision, and other data-processing technologies. While much of this may be invisible to the customer—for example, computer vision–enabled solutions that can reduce theft, help ensure items are always in stock, or streamline operations in other ways—this technology can also transform stores into showcases of personalized shopping experiences filled with dynamic, relevant content. And with each deployment of cutting-edge technology, retailers gain an edge like never before—because in retail, Everything Matters.

How will using data at the edge alter the retail industry? It will enable retailers to take advantage of advancements in AI, computer vision, machine learning, augmented reality, IoT, and robotics. The benefits include becoming more responsive, agile, and customer focused.

Intel curates the most innovative technology partners. They’re creating value by using our technologies to make every retail touchpoint a transaction and every customer experience a discovery—all driving toward better business outcomes. And we’re excited that many of them will be featured at NRF 2020: Retail’s Big Show.

At the Intel booth and throughout the show, attendees will have the chance to see for themselves how computer vision and other new, viable technologies can make retailers more competitive and innovative than ever. Here are just a few use cases and companies we’ll be exhibiting in our booth. Stop by to see how computer vision offers retailers opportunities to reinvent their stores.

1) Marketing through interactive displays

In-store marketing comes alive through a revolutionary type of augmented reality (AR) technology that can increase customer conversion rates. Lumo Play simplifies the interactive experience for retail by using gesture and motion tracking to physically engage people both inside and in front of a store.

The technology can be used to create an interactive floor, wall, window, or screen that allows consumers to engage in the space while receiving brand and product information in an entertaining, memorable way. And by combining Intel technology with Lumo Play software, retailers can create experiential retail displays, leverage real-time customer analytics, and track customers from engagement to the POS. A compelling example of a feature found in this system is the ability for consumers to print a photo—containing a redemption code—of their AR experience, increasing sales and customer engagement.

2) Combating loss prevention

New ways to reduce shrinkage is what you’ll see from PCMS. They’ve combined a POS real-time transaction log, CV-based object detection, scale solutions, RFID, and data fusion in a single pane of glass. Their POS technology is used by more than 140 retailers in more than 57 countries. I’m eager to see their self-checkout system in action. It relies on the Open Retail Initiative, a collaboration between Intel and other top technology companies, and the EdgeX Foundry, an open framework that unifies IoT edge computing.

PCMS’s decision to base their solution on open standards means that retailers can augment rather than replace existing assets. That decision also enabled PCMS to pull in five additional technology partners—each bringing their unique expertise—to develop a simple POS solution that solves many problems that vex retailers.

3) Eliminating friction at checkout

UST Global and Cloudpick will show their Frictionless Checkout Store solution. Their technology incorporates computer vision, motion detection, product sensing and recognition, and payment integration into a retailer’s mobile app.

They’ll walk us through how a customer carrying a mobile device can enter a frictionless store, place products in their shopping cart (or even into their pocket), and be charged for their purchase as they exit. A detailed, accurate receipt appears on their mobile device in seconds.

This increases customer throughput while allowing associates to concentrate on handling one-to-one customer service requests, both vital to enabling retailers to remain profitable in densely populated areas where expensive leases are the norm.

Looking forward to the next decade

Retailers of all kinds continue to benefit from AI and other technologies. That’s why it’s no surprise that brick-and-mortar retail represents half of the applications using computer vision featured in a recent piece in Forbes. And while today just three percent of retailers are using computer vision technology, 40 percent plan to start or finish implementing their deployment within the next two years.1

As this decade progresses, we’ll see more examples of how data can expand retail’s ability to innovate in real time at the store and supply chain level, as stores evolve in tandem with ever-changing shopping habits. We’ll see more ways in which AI, deep learning, data fusion, and computer vision can optimize store layout, discover customer insights, further engagement, increase purchases, and even predict demand. And at each point in this journey, technology developed by Intel helps support retailers by increasing operational efficiencies and providing new ways to heighten the customer experience.

If you’re attending NRF 2020, please stop by Intel’s booth for more information on how to extend your company’s vision of retail. And for more information, visit intel.com/retail.

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Disclaimers

1https://risnews.com/brave-new-world-computer-vision-4-things-retailers-need-know

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Original article: Computer Vision Paves the Way for Retail Vision 2020
Author: Joe Jensen