Company recognized for its groundbreaking approach to transforming retail stores into checkout-free experiences using only computer vision
Standard Cognition (“Standard”), which provides the only autonomous checkout solution that can be quickly and easily installed in retailers’ existing stores, announced today that The Business Intelligence Group has named it a winner in its Artificial Intelligence Excellence Awards program.
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Standard was a winner in the Organization category for its Computer Vision technology for autonomous checkout.
“We are so proud to name Standard as a winner in our inaugural Artificial Intelligence Excellence Awards program,” said Maria Jimenez, chief nominations officer for Business Intelligence Group. “It was clear to our judges that Standard was using AI to substantially improve its customers’ businesses. Congratulations to the entire team!”
The next revolution in tech will be driven by computer vision. Using AI-powered cameras and software, computer vision will change the way we interact with the physical world. Standard is the leading computer vision platform retailers use to quickly transform stores into checkout-free experiences. Its AI-driven computer vision solution enables people to shop without waiting in line, scanning or stopping to pay. Consisting primarily of ceiling-mounted cameras that can detect which items a person picks up, Standard’s system uses no facial recognition and lets shoppers remain completely anonymous. It can be easily installed in existing stores without making any changes to layout, shelving, lighting or inventory management processes. “AI and computer vision are at the heart of the next generation of retail innovation,” said Jordan Fisher, Co-founder and CEO of Standard. “We’re honored that the Business Intelligence Group has recognized the hard work of the Standard team to help our customers use computer vision and AI to change the way the world shops.”
Standard recently raised a $150M round of Series C funding led by SoftBank Vision Fund 2. The company is working with customers such as Alimentation Couche-Tard, Inc. (parent company of global convenience store brand “Circle K”) and Compass Group to outfit hundreds of checkout-free stores in 2021 and beyond, with a goal of more than 50,000 stores in the next five years.
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