Computer vision may be just what retail needs to stay competitive with online giants and increasing costs. While still in its infancy, computer vision is quickly becoming a part of everyday life. Over the next few years, this technology will continue to evolve and scale at and its impact will be felt by in a variety of industries.
Here’s an interesting article in a retail trade magazine about what computer vision means to the industry.
Savvy retailers are beginning to experiment with applications of this next-gen technology, which will help them evolve with ever-changing shopping habits. Today 3% of retailers have computer vision technology in place, according to RIS’ “29th Annual Retail Technology Study: Retail Accelerates.” However, 40% plan to start or finish implementing the tech within the next two years.
Computer vision plays an important role in facial recognition, cashierless stores, inventory visibility, and visual search, four vital areas retailers are already putting the technology to work in. Here we take a deeper look at each of these applications and what they mean for both retailers already utilizing the tech and companies looking to adapt computer vision in the future.