Three Billion and Counting: Pensa’s AI System Recognizes Products on Retail Shelves with 98 Percent Accuracy
Pensa Systems, a leading innovator in retail shelf intelligence, announced today that it has visually recognized more than three billion CPG product images to date based on videos of store shelves captured by phones and drones. Pensa’s ability to visually recognize products in real-world store environments is a dramatic improvement over simple, traditional “image matching” using still photos – resulting in more than 98 percent accuracy and dramatically lower cost than traditional approaches to shelf data.
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Pensa’s automated perception system, powered by artificial intelligence and computer vision, delivers the industry’s most accurate source of truth about real-time shelf analytics at scale. The data helps both retailers and CPG brands minimize stockouts, optimize product planning and increase revenue in a highly competitive and volatile marketplace.
“At a time of unprecedented industry disruption and omnichannel growth, brands and retailers can no longer afford to have limited visibility of what’s on store shelves,” said Pensa President and CEO Richard Schwartz. “Our innovative approach to AI and computer vision delivers the actionable data our customers need to close the gap between inventory data and POS data, and help the industry address its $1 trillion blind spot about in-store inventory visibility.”
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Pensa’s self-starting system can be deployed in store with no setup, and doesn’t require reference images or planograms upfront. In fact, it creates a real-world planogram based on its analysis. As a result, brands and retailers can act on one source of trusted real-time shelf data to minimize stockouts and reduce omnichannel product substitutions as they fight for customers and incremental sales.
