Lance King, CEO
The Internet of Things (IoT) has created tremendous advancements in retailing for businesses and customers alike. From RFID tagging that secures merchandise to helping customers find parking spaces, sensors continue to play a vital role in retail operations. With IoT hitting its stride, the retail segment is positioned for an explosion of opportunities that will transform every aspect of consumer activity into quantifiable analytics. The Internet of Recognition (IoR) is vastly more powerful than IoT and it will soon transform every aspect of retailing and consumer experiences.
Two key technologies have emerged to achieve this— machine vision and machine learning. Combined, these essential cornerstones of artificial intelligence will help retail businesses see the unseeable, anticipate customer demand, and provide unparalleled safety and security. “Everything, every person, and every subtle behavior will soon be evident in real-time data streams,” says Lance King, founder and CEO of Stream It.
Stream It has recognized how the retail segment can leverage artificial intelligence to provide real-time data using affordable high-resolution cameras. The ability to detect security threats and monitor other customer and worker safety factors are important advancements that Stream It’s retail platform offers. But its real-time analytics features also serve as a pathway for gathering customer demographics, customer and worker sentiment, wait times, movement through stores, and even detecting restaurant tables that need cleaning.
As indicated by Lance King, “Our platform makes Internet of Recognition an affordable luxury that achieves advancements through machine vision, AI, and real-time information to provide our customers with a strategic advantage, and their customers with a better experience.”
Stream It: Retail is an edge-first real-time video analytics and surveillance solution.
With sub-second reporting across the globe, this solution delivers a broad array of operational analytics that can be shaped to meet specific implementation requirements.
Our platform makes Internet of Recognition an affordable luxury that achieves advancements through machine vision, AI, and real-time information to provide our customers with a strategic advantage, and their customers with a better experience
Real-time analytics are computed and flow instantly from stores to dashboards to reveal key metrics about customers as they shop. And because it is live data, management no longer must wait days, weeks, or months before they can become aware and take action. Anything less than real-time leaves a weakness that can be exploited by competitors.
Real-time data enhances safety for workers and customers alike. Optionally, facial recognition can be used to defend the back-of-house areas that instantly alert when intruders are present or independently verifying time clock data and other worker activities. Recognition models can watch the sales counter scanning for threats and other behaviors that may represent unsafe conditions for customers and alert instantly.
Stream It’s platform and open data architecture is designed to work with existing IT and data services to share its real-time data streams. Unlike other AI platforms that are either “edge” or “cloud/data center” centric, Stream It can analyze data at the edge (in the retail establishment), in transit (as it moves across the network), and in the cloud (or your data center). The result is unparalleled flexibility to perform real-time and historical analyses while minimizing network and data center costs. And because Stream It is an open platform, new analytics “apps" from third parties, or created by your own IT team, can be seamlessly integrated at the edge.
King summarizes the importance of the emerging Internet of Recognition by adding, “No retail business can afford to ignore the importance of literally seeing everything in a new light and quantifying behaviors. IoR makes this possible and the Stream It platform makes this opportunity a reality”.