Back to ResourcesRetail’s Big Show just wrapped up, and our team was there! The National Retail Federation (NRF) show is always a hub for groundbreaking retail tech – and it was the perfect place for Standard AI to debut a groundbreaking new way to transform retail.
At NRF 2024, Standard AI unveiled an extension to its Standard Vision Platform that will – for the first time – bring e-commerce-like insights and analytics to the world of physical retail. This will unlock unprecedented capabilities around loss prevention, inventory management, and predictive analytics – using ML and generative AI technology.
How Does Predictive AI Work?
Powered by deep learning and the industry’s most advanced computer vision, the Standard Vision platform monitors shoppers and their actions in a store – with no facial recognition. Standard Vision works in conjunction with leading technology vendors like Google Cloud, NVIDIA, Lenovo, and Axis Communications and is fast becoming the transformation platform of choice for leading retailers.
The Standard AI Vision Platform is a game-changer, delivering enhanced capabilities for retailers like:
AI-Powered Loss Prevention: Actionable Analytics for Proactive Theft Detection
Enhanced loss prevention is a critical upgrade in retail security, offering full visibility and curated video clips filtered for suspected theft. No more combing through endless footage to capture only a fraction of loss. . Get comprehensive insights and see trends to proactively stop loss.
Predictive Analytics: Understanding & Anticipating Shopper Behavior
Trained by years of in-store video data, our AI has become a powerful insight engine for consumer behavior. We are poised to debut our Predictive Analytics tool for retailers, who now will have access to the type of insights that were previously only available via e-commerce. Retailers can anticipate shopper behavior with remarkable accuracy. By understanding the potential impact of merchandising changes before category resets, retailers can make data-driven decisions that drive revenue.
Maximized Shelf Availability: Identify Gaps in Inventory and Out of Stocks
Standard AI’s Vision platform maximizes shelf availability and alerts retailers about low inventory levels before products run out to ensure shoppers always find what they are looking for. It’s not only a crucial tool for maintaining customer satisfaction and loyalty, but it can make a huge impact on a store’s bottom line.
The Industry’s Only End-to-End Retail AI Platform
As an integral expansion of our Vision platform within the Standard AI portfolio, these innovations empower retailers to accelerate growth, transform retail operations, and address labor, inflation, and loss challenges. From innovative self-checkout options to powerful AI-driven zone monitoring solutions, our comprehensive suite ensures a transformative retail experience With quick and seamless integration into existing stores, our machine vision and AI-powered solutions deliver unparalleled insights into operations and shopper behavior. The Standard AI Vision Platform represents a giant leap forward for retail tech, unlocking AI capabilities to address immediate retail challenges while delivering a future-proof platform for staying relevant in the rapidly evolving landscape of AI enabled retail.