MIAMI, FLORIDA – AUGUST 19: A sign is seen outside of a Target store on August 19, 2020 in Miami, Florida. The Terminator, a symbol of artificial intelligence run amok, famously declared that he would be back. Three and a half decades later, it turns out repeat business is at the heart of AI. In the years since, consumers have grown more comfortable sharing their data, especially as they crave more personalization. Now, with Covid-19 propelling shopping online--replete with tracking cookies and apps--we've reached a key moment.
New York (CNN Business)Soon every Sam's Club will have a robot to scrub the store floors. In partnership with Brain Corp, an artificial intelligence company, the membership-only warehouse chain will distribute 372 new autonomous floor scrubbers to its stores this fall. Sam's Club, which is owned by Walmart, has already deployed hundreds of the robotic scrubbers. With the addition of 372 new robots, the company will soon have a scrubber in each location. It will also implement one of Brain Corp's accessories that will allow them to analyze shelf inventory.
Uday Kamath has more than 20 years of experience architecting and building analytics-based commercial solutions. He currently works as the Chief Analytics Officer at Digital Reasoning, one of the leading companies in AI for NLP and Speech Recognition, heading the Applied Machine Learning research group. Most recently, Uday served as the Chief Data Scientist at BAE Systems Applied Intelligence, building machine learning products and solutions for the financial industry, focused on fraud, compliance, and cybersecurity. Uday has previously authored many books on machine learning such as Machine Learning: End-to-End guide for Java developers: Data Analysis, Machine Learning, and Neural Networks simplified and Mastering Java Machine Learning: A Java developer's guide to implementing machine learning and big data architectures. Uday has published many academic papers in different machine learning journals and conferences.
One of the most frequently-used phrases at business events these days is "the future of work." It's increasingly clear that artificial intelligence and other new technologies will bring substantial changes in work tasks and business processes. But while these changes are predicted for the future, they're already present in many organizations for many different jobs. The job and incumbents described below are an example of this phenomenon. Steve Miller of Singapore Management University and I are collaborating on these stories.
Investor demand for innovative emerging companies remains strong with Australian AI tech startup Tiliter completing a $7.5 million capital raise, led by Investec Emerging Companies (IEC). Eleanor Venture, a tech investment syndicate for angel investors, and New York's Cornell University also participated in the funding round. Tiliter is a leading artificial intelligence (AI) provider whose technology uses computer vision to recognise products without barcodes. Its technology automatically identifies items, such as fresh produce, without the need for barcodes, packaging, and price stickers, making it easier for shoppers to manage during self-checkout. Tiliter is currently focused on the Supermarket vertical and its camera and software system uses AI to pre-select items and remove the need for manual entry, with over 99% accuracy and in under one second.
January's annual Outdoor Retailer Outdoor Snow Show will be hosted virtually Jan. 27-29. Rather than take place at the Colorado Convention Center in Denver, the annual event will be a fully online experience dubbed "Outdoor Retailer Winter Online." In an email, Outdoor Retailer Senior Vice President and Show Director Marisa Nicholson said "developments have made it impossible to bring the event's community together safely and successfully in Denver" due to the ongoing impact of the COVID-19 pandemic. She said these included government restrictions and limitations on large gatherings. Outdoor Retailer hosted its first digital show this summer.
Tango Eye, a Chennai-based AI video analytics startup that converts CCTV data into actionable insights, has raised an undisclosed amount of seed funding led by Delhi-based eyewear retailer Lenskart, which entered the elite unicorn club last year. Silicon Valley-based seed fund RiSo capital and angel investor Gaurav Gulati, Co-founder, Innov8 (acquired by Oyo) also participated in the round. Currently implemented at about 1,000 outlets, the startup said the new funding will help scale to 10,000 outlets in addition to expanding the product features. In a release, Tango Eye said that this investment will enable Lenskart to enhance customer experience, security and safety protocols in stores, and merchandising placement, among others. Founded in 2018, Tango Eye uses AI and Computer Vision to deliver a SaaS solution that utilises existing CCTV cameras to measure social distancing, improve sales conversion, optimise product placement and monitor SOPs across retail outlets.
The present-day world of online retail behemoths of Amazon, Argos and Asos etc undeniably leaves a small to medium sized businesses (SMEs) with a clear disadvantage when it comes to eCommerce. Despite their relative lack of exposure and customer loyalty there are, however, a number of ways that an SME can compete with the big dogs. One of these is through customer experience – something that AI chatbot perfectly facilitate. Especially when it comes to one of the deadliest challenges for any retailer: seasonal economic fluctuations. Seasonal changes massively shift the retail market and are extra testing to an SME that relies on a much smaller customer base.
For decades humans have been cultivating the concept that "teams" are more powerful and effective than the sole individual. Professor Leigh Thompson of the Kellogg School of Management at Northwestern University defined a team as "a group of people who are interdependent with respect to information, resources, knowledge, and skills and who seek to combine their efforts to achieve a common goal." Robert E. Cole of the Haas School of Business at the University of California, Berkeley studied the evolution of the team concept in industrialized countries from the 1960s to the 1980s. Whether we call them "autonomous workgroups" or just "teams," the result is often higher productivity with more superb quality. From my experience managing engineering teams, my preferred high-tech strategy has been to form "small teams that move fast."
Founded in 2019, San Francisco-based Synthesis AI has developed technology that generates vast quantities of photorealistic images and pixel-perfect labels to optimize computer vision training. "The world is exploding with cameras," says Synthesis AI CEO Yashar Behzadi. This is great news for AI startups that specialize in computer vision, a field of AI that trains computers to interpret elements from digital images and videos. Up to now, computer vision has relied heavily on supervised learning, in which humans label key attributes in an image and then teach computers to do the same. But to Behzadi, this method has some pretty major setbacks.