Smart checkout technology $400bn by 2025, page-2

So, keeping this article in mind - where does SBW fit in?

SBW’s Visual Recognition Platform embedded with Edgify’s machine-learning training framework is the world’s first cloudless software that automatically recognises products, including fresh produce, at a retail self-checkout. It literally distinguishes apples from apples automatically - what is known as intelligent loss prevention.

This allows retailers to potentially bypass expensive cloud services from Microsoft, Google and Amazon.

By way of example, sending data to the cloud is a very costly process with the Google Cloud Platform charging 1,000 stores more than US$7.2 million in cloud computing power per annum.

https://cloud.google.com/solutions/migration-to-google-cloud-transferring-your-large-datasets

With SBW’s solution the training takes place on the scale itself, instead of sending all the data (such as images) to the cloud, allowing the system to handle vast, ongoing and growing information over time.

A recent study of over 9000 Australian and New Zealand retailers revealed a loss of more than $3.3 billion in 2018 alone with half attributed directly to shoplifting.

So SBW could quite literally save major giants millions if not billions of dollars, on a global scale.

Thanks for reading.