AiFi plans to open 330 more stores
The retail industry is experiencing a shift in creating a seamless shopping experience with the help of a cashierless retail experience. You might know about the cashierless Amazon Go store but they will be facing new competition from AiFi.
The Santa Clara-based cashierless retail startup, AiFi, secured a $15 million investment from existing backers and Qualcomm that doubled AiFi’s funding to $30 million. AiFi debuted the cashierless retail concept in February 2019 and has worked towards getting funding to create more AiFi locations.
Autonomous stores! The future of retail https://t.co/vYII7YcNqL
— customsocial (@cstmsocl) October 19, 2020
AiFi will be using this funding to work towards opening 330 stores in the United States, Australia, and Europe. AiFi opened its first store in Shanghai earlier this year that was used for testing purposes.
The AiFi stores work on the Oasis platform utilizing cameras around the store with the system trained to recognize hundreds of products with 99% accuracy within 3 months of opening. The platform automatically keeps track of inventory, provides real-time store operations data, and identifies misplaced items.
After Amazon Go launched its cashierless store, a majority of retailers raced at the chance to compete in this unique retail market. The coronavirus (COVID-19) pandemic has created a bigger demand for more contactless shopping options.
According to a report by ABC, the use of contactless features for banks has increased 150% since March and is expected to increase as more businesses implement contactless features. Standard Cognition and Grabngo businesses have recently announced the launch of “no-line” payment options in convenient stores and supermarkets.
-
Blizzard is partially removing the controversial requirement. Last week, prior to the recent launch of their new game Overwatch...
-
Netflix is trying to branch out into other forms of media. Streaming service Netflix has been on hard times...
-
The device has been called the most repairable iPhone since the iPhone 7. Last week saw the official release...
-
The booming orchestral score can be purchased and streamed. Elden Ring was one of the biggest video game releases...
-
New generations of the device are already planned. At the beginning of the year, video game publisher and developer...
-
The Optimo 2 features all-encompassing sound. Sonos has been making waves recently in their attempts to create the next...
-
Voice lines from Beetlejuice and the Wicked Witch have been found in the game’s files. Through a combination of...
-
Google claims Sonos has infringed on its patents for voice control and smart speakers. Recently, Google has been locked...
-
Google assured that they are still planning on supporting the Stadia platform. Since its launch in 2019, Google’s proprietary...
-
The service is opening in beta to a million new users. Earlier this year, artificial intelligence lab OpenAI unveiled...
-
PlayStation Stars will offer small rewards and digital collectibles. Today, Grace Chen, Vice President of Network Advertising and Loyalty...
-
The smartwatch could detect potential fevers in wearers. Apple is remaining fairly quiet about the upcoming Apple Watch Series...