7 artificial intelligence startups aim to assist retailers in wishing them a happy Christmas season

7 artificial intelligence startups aim to assist retailers in wishing them a happy Christmas season ...

Nothing is hotter than artificial intelligence (AI) startups that can assist retailers in achieving greatness this holiday shopping season.

Retail AI is a huge, fast-growing segment, which is expected to reach over 40 billion by 2030, according to eMarketer.

These are seven of the most popular artificial intelligence startups that are assisting retailers in meeting their Christmas goals:

Afresh: The future of fresh food is being solved by an artificial intelligence company.

Afresh, which was founded in 2017, has been on a tear this year, raising a whopping $115 million in August. That's how can stores ensure they have enough perfectly ripe, fresh foods to stock their shelves, while minimizing losses and reducing waste from food that is past its prime?

According to a company press release, Afresh is on track to assist retailers save 34 million pounds of food waste by the end of 2022. This allows grocers to keep fresh food for as little time as possible.

AI-powered cashierless checkout from AiFi

AiFi, based in Santa Clara, California, is a frictionless and cashierless AI-powered retail solution that is used in a wide range of settings, including sports stadiums, music festivals, grocery store chains, and college campuses. In March, Gu and Zheng both received a $65 million in funding.

AiFi makes AI models available through a number of cameras mounted overhead in order to follow customers throughout their shopping journey, while computer vision recognizes items and detects different activities, such as putting items on or removing items from the shelves.

AiFi has also developed advanced calibration algorithms that allow the company to recreate the shopping environment in 3D.

Self-checkout for AI and computer vision via Everseen

Everseen has been around since 2007, but 2022 was a busy year for the Cork, Ireland-based business, which offers AI and computer vision-based self-checkout technology. Kroger Co., America's largest grocery store, announced in September that it will expand its solution beyond the initial testing phase.

The Everseen Visual AI platform captures large volumes of unstructured video data using high-resolution cameras, which it integrates with structured POS data feeds to analyze and make inferences about data in real-time. It provides shoppers with a "gentle nudge" if they make an unintentional scanning error.

Everseen has had a mixed year: In 2021, the business settled a lawsuit with Walmart, alleging that the retailer misappropriated the company's technology and then manufactured its own version.

Focal Systems: Shelf Digitization in Real-Time

Focal Systems, based in Burlingame, California, has recently partnered with Walmart Canada to roll out its digital shelf digitization solution, which uses shelf cameras, computer vision, and deep learning in a 70-store trial.

Focal Systems was founded in 2015 by Stanford's Computer Vision Lab. Its FocalOS "self-driving store" software automates order writing and ordering, directs stockers, monitors employee performance, and manages ecommerce platforms to eliminate substitutions in the shop.

According to the company, corporate leaders may see any store in real-time to see what their shelves are like and how they are performing.

Hivery: Getting store assortments right

Hivery, based in South Wales, addresses the many challenges faced by brick-and-mortar retail stores in terms of space. It provides advice on how to utilize physical space, set up product displays, and optimize assortments. It also offers "hyper-local retailing," allowing stores to personalize their assortments in response to local customers' needs.

Curate, a SaaS-based, AI-driven product, employs proprietary ML and applied mathematics methods developed and acquired by Australia's national science agency. They claim that a process that took six months was reduced to about six minutes due to the use of AI/ML and applied mathematics techniques.

In April, Jason Hosking, Hivery's cofounder and CEO, told VentureBeat that Hivery's customers may conduct quick assortment scenario strategies simulations around SKU rationalization, SKU introduction, and space while considering any category goal, merchandising regulations, and demand transference.

Lily AI: Connecting shoppers to goods

Lily AI, a business that connects shoppers with items they may want, raised $25 million in new capital just a month ago – no small feat in these tough times.

Purva Gupta and Sowmiya Narayanan founded Lily AI in 2015 to address a pressing e-commerce challenge — consumers who leave a site before buying.

Lily AI works with products that include ThredUP and Everlane to power search engines and product discovery carousels. For example, Lily will capture customer data from other brands to predict a customer's affinity to certain items in the catalog.

Shopic is one of several smart cart AI businesses launching in the coming months.

Shopic, based in Tel Aviv, is making waves with its AI-powered clip-on gadget, which uses computer vision algorithms to transform shopping carts into smart carts. In August, Shopic received a $35 million series B investment round.

Shopic claims to be able to recognize over 50,000 items once they have been placed in a cart in real time while also displaying product discounts and discounts on related goods. The company's analytics dashboard also provides real-time inventory management and customer behavioral insights for grocers.

Shopic is facing challenges from other AI startups in the smart cart space, such as Whole Foods and Amazon Fresh, while Instacart has recently acquired Caper AI.

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