Standard Cognition Purchased DeepMagic for Checkout Tech
Daniel Johnson — October 15, 2019 — Business
References: standard.ai & techcrunch
Standard Cognition recently purchased DeepMagic, which is a company that works with cashier-less technology. DeepMagic has technology that allows a customer to swipe a card when entering a store, after which point the camera technology can detect the items a customer is carrying when they leave. The technology allows customers to walk out of a store without having to use a checkout. Standard Cognition has stated that it views DeepMagic as an integral part of the organization's future.
Standard Cognition is a company that focuses on retrofitting grocery stores. The company currently has a store in the Worcester Red Sox stadium, as well as other locations. Standard Cognition claims that its services are able to increase profits for stores by 100%.
Image Credit: Standard Cognition
Standard Cognition is a company that focuses on retrofitting grocery stores. The company currently has a store in the Worcester Red Sox stadium, as well as other locations. Standard Cognition claims that its services are able to increase profits for stores by 100%.
Image Credit: Standard Cognition
Trend Themes
1. Cashier-less Technology - Opportunity to implement innovative cashier-less technology in retail stores for seamless and frictionless checkout experiences.
2. Camera Technology - Potential for advanced camera technology to track and identify items in real-time, enabling automated checkout processes.
3. Retrofitting Grocery Stores - Growing trend of retrofitting grocery stores with cutting-edge technology to enhance efficiency and customer satisfaction.
Industry Implications
1. Retail - Retail industry can capitalize on cashier-less technology to transform the shopping experience and stay ahead of competitors.
2. Technology - Rapid advancements in camera technology present opportunities for disruptive innovations in various sectors, including retail, security, and more.
3. Grocery - Grocery industry can leverage retrofitting techniques to optimize operations, improve profitability, and provide seamless shopping experiences.
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