Shinsegae I&C Focuses on AI-Driven Retail Solutions
[Herald Economy Reporter Sejeong Park] Shinsegae I&C is strengthening its efforts in AI transformation (AX) business initiatives.
On the 8th, Shinsegae I&C announced plans to expand its solution lineup based on ‘Spharos AI Vision,’ which is tailored for the retail industry.
‘Spharos AI Vision’ is a core AI technology that can analyze large volumes of video data in real time. It’s a retail-focused AI model that combines millions of data accumulated from unmanned stores with Shinsegae I&C’s AI technology.
Initially, Shinsegae I&C will launch a new 2nd generation unmanned store solution called the “AI Checkout.” This solution, based on ‘Spharos AI Vision’ technology, can recognize multiple products and send payment information in one second with 99.5% accuracy. The AI-based unmanned store technology is consolidated into one device, significantly reducing costs and enhancing accuracy through technology advancements to ensure price competitiveness.
The AI Checkout automates the product barcode scanning process for increased convenience and reduces payment and waiting times by more than four times compared to conventional stores. It can be immediately applied to thousands of products, including unwrapped fruits, vegetables, and baked goods, as well as consumer goods distributed domestically and internationally. New products can be recognized by AI without a separate learning process.
Additionally, Shinsegae I&C has enhanced its ‘Store Management Solution,’ which analyzes retail space data in real time using AI technology.
The AI analyzes the store, checking congestion and cleanliness in real time and providing insights on efficiently utilizing store space based on occupancy analysis of each section. It offers various data-driven insights by analyzing customer behavior, purchase intentions, product interest levels, and dwell time, and it detects and manages out-of-stock and misplacement issues on shelves.
Yang Yoon-ji, CEO of Shinsegae I&C, stated, “With Shinsegae I&C’s embedded AI technological capabilities, we have secured price competitiveness and further advanced solution functionality. We anticipate that innovative changes driven by AI technology will spread across various retail industry settings.”