Vision technology is rapidly transforming the way retailers interact with and market to customers, providing both hyper-convenience and frictionless experiences in stores. Cameras have historically been used in the retail environment for loss prevention and continue to play a critical role today. Modern vision technology solutions have added capabilities, enabling retailers to better understand and serve customers by understanding traffic flow, retail conversion, and engagement through targeted marketing.
And while today just 3% of retailers are using computer vision technology, 40% plan to start or finish implementing their deployment within the next two years. Vision technology is increasingly used to address rising operational and labor costs with solutions that enable real time inventory management, parcel shipments, and shelf stocking, as well as automated processes, including fully autonomous grab and go stores.
Camera technology is being deployed ubiquitously, giving computers the ability to see what is happening. When paired with recent innovations in AI technology, the computers are also able to use deep learning to understand or infer what they are seeing. The technology is transforming business outcomes across industries, making cities safer, modes of transportation and manufacturing facilities more efficient, driving increased sales and operational efficiencies for retailers, and providing life-saving opportunities through early detection in hospitals.
The possibilities of using computer vision to drive business transformation and outcomes are endless. Please reach out to your Intel account representative, or visit us at intel.com/iot. We look forward to partnering with you.