THE retail experience may change for thousands of shoppers with new AI technology.
Standard AI, a retail artificial intelligence solution provider, sighed a deal to acquire self-checkout provider Skip.
The deal will contact Skip, which offers kiosks and mobile checkout solutions, with AI-powered checkouts for an autonomous experience.
Standard AI will combine itself with Skip’s cloud-based point-of-sale (POS) technology to give sellers greater control over price, discounts, and promotions said the company.
Existing stores already use the company’s platform, Standard Checkout, to create checkout-free trial experiences.
These offer fast and accurate time-to-receipt and insights about store operations from one platform said Standard AI.
Retailers have experienced an “existential crisis” in hiring and retaining workers, which threatens to limit growth and store performance, said Standard AI.
This has caused a spike in interest in self-checkouts as a stragedy to solve labor issues.
“Autonomous retail has seen exponential growth, and in the next five years, we’ll see thousands of AI-powered stores across the world,” said Jordan Fisher, CEO of Standard AI.
“Through this acquisition, we will create a unique offering that combines the self-checkout experience with autonomous retail for the first time ever to give retailers immediate relief from their labor challenges and a way to accelerate their path to an autonomous future.”
The company will also connect self-checkout and autonomous retail, helping retailers offer new checkout experiences to their shoppers.
This will also give customers a way to access autonomous retail experiences through self-checkout kiosks.
“By integrating with Standard AI, we are now taking our kiosks to the next level and working on solutions that will go beyond them as we create the future of autonomous checkout,” said Chase Thomason, founder, and CEO of Skip.
Standard AI will keep selling Skip as a standalone system as an option for retailers that need a basic self-checkout system for their in-store teams.
However, stores that want instant relief from labor changes and a “transformed” retail experience, can get the option of a Skip kiosk with the Vision OS^ platform – combining self-checkout with the autonomous checkout experience together.
According to Standard AI, this will support all shoppers, help with labor challenges, and won’t require the need for sacrifices that could limit the customer experience.