Machine vision is the product of machine learning and data analytics that allows you to mimic the visual perception of physical objects and their environment. In short, it is the technology that helps machines understand the visual information collected by the cameras installed in the facilities.
Computer vision systems employ image processing algorithms for preliminary data processing and machine learning or deep learning models to learn from them. The computing power of the machines combined with the latest generation software allows these systems to extract valuable information used by business owners to apply new strategies.
How is Computer Vision transforming the retail industry?
Computer vision enables retailers to build customer loyalty through a better in-store experience. You can speed up the buying process by analyzing customers' buying habits. Data obtained by computer vision can be used to optimize the layout of store shelves for faster shopping.
It is also a good option for enhancing in-store self-service and can deter theft and fraud. Automated visual inspection installed in aisles and at checkout will detect thieves faster than current devices. Computer Vision can be used to track movement in a store and help retailers establish routes around their stores that feel natural to the shopper while maintaining safe distances between people.
Artificial vision applications in retail
1. Automated payment
With the use of machine vision in retail, you don't have to wait in long lines to pay. Sensors and computer vision can be combined to monitor products. After the consumer leaves the store, they can also recognize them and immediately charge them.
2. Ad in store
Retailers can also employ computer vision to recognize certain customers as they enter the space and offer them discounts. Additionally, they can receive shopping advice based on their past purchases.
3. Stock management
Machine vision can be used to detect empty shelves and reduce the replenishment period, thus increasing product availability on the shelf. This solution can also check the shelf price, which is often a time-consuming manual operation, minimizing price anomalies.
4. Customer advice
In the near future, CV algorithms will be so advanced that they will help you find the perfect product or accessory to match your new outfit. They have the ability to become fully operational client advisors.
5. Virtual mirrors
Virtual mirrors can become the central focus of personalizing and improving the customer experience in retail. A virtual mirror is basically a mirror with a screen behind the glass. It is powered by AR and computer vision cameras and can display a wide range of contextual information that helps shoppers better connect with the brand.
6. Crowd Analysis
Computer vision can accurately count customers in stores and track their overall behavior. Retailers will be able to track customers' movements around the actual store, determine how much time is spent on each item, and confirm that the store complies with all set standards.
7. Self checkout
Self-checkout has already solidified its importance for physical stores. Customer service automation is becoming a priority these days, which is why companies need to update their workflow to make them more efficient.
8. Stores without a cashier
As revolutionary as it sounds, cashierless stores are paving the way for a more streamlined, AI-assisted shopping experience in stores around the world. Computer Vision is being tested in various retail stores to completely replace the need for human staff.
9. Inventory management
By automating inventory cycle counts with computer vision, retailers can update their inventory system in real time to build an omnichannel retail experience.
10. Optimize Marketing Campaigns Using Behavior Analytics
The systems can monitor facial expressions and identify how a customer is feeling, giving marketers a way to learn how people are responding to specific products.
The Bottom Line
Retail experiences have been hit hard by the pandemic, and AI-powered tools like Computer Vision can help stores create a more streamlined, customer-centric retail experience. From theft prevention and inventory management to information on marketing strategies, the applications of Computer Vision for the retail industry are limitless.
Although computer vision is the most mature AI technology today with a wide range of real-life use cases, it is still in its early stages and well beyond its full potential. It is worth noting that certain situations cannot be identified or tracked at all, mainly due to lighting, occlusion, or complex scenes. However, machine vision algorithms and underlying technology are developing rapidly.
Machine learning consulting company in Newyork, ML & AI technology will be important in gaining a competitive advantage in delivering better products and services. Computer vision technology is developing at a dizzying pace in the retail, industrial, and autonomous sectors, and it is only a matter of time before the solution reaches other sectors, even those that seem unlikely to be implemented at this time.
