12/12/2023 0 Comments Berkshire edge newspaper![]() Toshiba’s object detection AI can even work with a single image to accurately recognize objects, significantly reducing misidentification and improving loss prevention for retailers. Toshiba’s produce recognition AI, ELERA TM is designed to optimize the self-checkout experience of customers at retail outlets, as it enables scanning of all items in the cart, including those without bar codes, for quick and effective checkout The updated AI platform claims to require only a small volume of reference/training data unlike typical recognition software, which rely on large volumes of data. The leading players in the automated object recognition space in terms of patents filed are Toshiba, Trax Technology Solutions, Nant, Cox Enterprises, and Walmart. Premium intelligence on the world's largest companies Patent volumes related to automated object recognition It reflects the breadth of geographic application intended, ranging from ‘global’ to ‘local’. ‘Geographic reach’ refers to the number of countries each patent is registered in. It broadly splits companies into either ‘niche’ or ‘diversified’ innovators. ‘Application diversity’ measures the number of applications identified for each patent. Key players in automated object recognition – a disruptive innovation in the retail industry According to GlobalData, there are 20+ companies, spanning technology vendors, established retail companies, and up-and-coming start-ups engaged in the development and application of automated object recognition. GlobalData’s analysis also uncovers the companies at the forefront of each innovation area and assesses the potential reach and impact of their patenting activity across different applications and geographies. The technology is aimed at achieving what a human eye sees and comprehends for recognition. This technology makes use of stored references to identify different objects in real time without human intervention. Innovation S-curve for artificial intelligence in the retail industryĪutomated object recognition is a key innovation area in artificial intelligenceĪutomated object recognition technology refers to the use of sensors or cameras to detect and identify objects. Among maturing innovation areas is automated object recognition, which is now well established in the industry. In-store product recognition, personalized recommendation AI, and smart checkout are some of the accelerating innovation areas, where adoption has been steadily increasing. Within the emerging innovation stage, cosmetics recommenders, 3D garment modeling, and in-store theft monitoring are disruptive technologies that are in the early stages of application and should be tracked closely. Identifying where a particular innovation is on this journey, especially those that are in the emerging and accelerating stages, is essential for understanding their current level of adoption and the likely future trajectory and impact they will have.ĥ0+ innovations will shape the retail industryĪccording to GlobalData’s Technology Foresights, which plots the S-curve for the retail industry using innovation intensity models built on over 115,000 patents, there are 50+ innovation areas that will shape the future of the industry. Instead, their evolution takes the form of an S-shaped curve that reflects their typical lifecycle from early emergence to accelerating adoption, before finally stabilizing and reaching maturity. However, not all innovations are equal and nor do they follow a constant upward trend. Walmart Inc Toshiba Corp Cox Enterprises Inc Trax Technology Solutions Pte Ltd View all
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