Technology provider Standard AI, San Francisco, is shifting from its foundation in autonomous checkout and launching a new product suite, Vision Analytics, that uses cameras to identify how customers interact inside stores and provide solutions.
The changes come after naming Angie Westbrock CEO following her tenure as chief operating officer. David Woollard will become chief technology officer, a promotion from his role as senior vice president of technology strategy. Jordan Fisher, the company’s outgoing CEO and co-founder, will remain on the Standard AI board as chairman.
This marks Standard's next chapter, and the recent layoffs at the company are a result of this shift from autonomous checkout, a spokesperson for the company told CSP.
Standard AI’s Vision Analytics’ computer vision-based technology platform uses cameras to understand where shoppers move in the store and the products they interact with, without the use of facial recognition software or any personally identifiable information. Methodical camera placement coupled with algorithms and compute power enables Standard AI’s artificial intelligence platform to focus solely on kinematics, such as how customers interact with shelves. Standard AI’s Vision platform is reinforced by relationships with firms across cloud, compute and sensor space and with Google Cloud, Nvidia and Axis Communications as partners.
Standard AI Vision Analytics applies continuous data capture and AI modeling to specific areas within a store to yield insights that provide an uplift in revenue for brick-and-mortar businesses and an understanding of consumer behavior for consumer-packaged goods (CPG) suppliers, according to the company and shown below.
Photograph courtesy of Standard AI
“The impressive technology we built for autonomous checkout at Standard has enabled this new path forward to finally give the retail industry precise insights into the interactions between people and products in stores,” said David Woollard, chief technology officer of Standard AI. “Delivering these insights while maintaining shopper privacy has been a core tenant of Standard AI from its early beginnings and I am proud to work with Angie in our new roles to advance our Vision Analytics platform.”
With Standard AI Vision Analytics, retailers and the brands that stock their stores will be able to access metrics, such as…
- Traffic and impressions: Gain insights into foot traffic patterns and shopper interactions, allowing for optimized store layouts and promotional strategies.
- Availability and out-of-stocks: Identify low-stocks and out-of-stocks, minimizing lost sales opportunities.
- Conversion percentages and sales: Effectively track conversion rates, sales performance and where shopper interactions occur within stores, including displays vs. home locations.
- Enhanced merchandising tests: Conduct data-driven A/B tests to evaluate the effectiveness of merchandising strategies, ensuring maximum impact on consumer behavior.
Under Westbrock’s leadership, Standard AI is doubling down on its mission to provide a view into how people spend time, attention and decision-making power within physical spaces. Reflective of the interdisciplinary experience of its newly appointed executive team, as CEO, Westbrock brings a background in operations and the CPG industry. Most recently, she served as the vice president of global operations at Lyft, which included acting as the lead for the company's global COVID task force.
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