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Standard AI Debuts Vision Analytics Platform to Unlock Unprecedented Insights for Retail

Standard AI, the company unlocking data behind physical retail experiences, today announced the launch of a new product suite and the elevation of veteran company executives to CEO and CTO. Enabled by...

Business Wire

With the company’s shift from autonomous checkout solutions, Standard AI promotes COO, Angie Westbrock, to CEO and SVP of Technology Strategy, David Woollard, as CTO

SAN FRANCISCO: Standard AI, the company unlocking data behind physical retail experiences, today announced the launch of a new product suite and the elevation of veteran company executives to CEO and CTO. Enabled by AI and computer vision, Standard AI is introducing Vision Analytics to empower retailers and brands with insights into shopper behavior, product performance, and store operations captured through unparalleled fidelity of people, products, and interactions. As the company shifts from its foundation in autonomous checkout, Angie Westbrock will assume the role of CEO following her tenure as COO and David Woollard will become CTO, a promotion from his role as SVP of Technology Strategy. Jordan Fisher, the company’s outgoing CEO and co-founder, will remain on the Standard AI board as chairman.

Founded in 2017, Standard AI has long been at the forefront of applying machine learning and computer vision to the hardest problems in retail. Focused initially on solving the challenge of autonomous checkout, it created a technology stack with immediate application to map what a customer does from entrance to exit in real-time and 3D. Standard AI Vision Analytics applies continuous data capture and AI modeling to specific areas within a store to yield comprehensive insights that provide an uplift in revenue for brick-and-mortar businesses and an understanding of consumer behavior for CPG suppliers.

Under Westbrock’s leadership, Standard AI is doubling down on its mission to provide a clear view into how people spend their time, attention, and decision-making power within physical spaces - an operational challenge that has lingered in the retail industry for decades. Reflective of the interdisciplinary experience of its newly appointed executive team, as CEO, Westbrock brings an extensive background in operations and the CPG industry. Most recently, she served as the VP of Global Operations at Lyft, which included acting as the lead for the company's global COVID task force.

“Over the past seven years, Standard AI has created some of the most advanced digital technology that maps physical spaces,” said Angie Westbrock, CEO of Standard AI. “This breakthrough in technology provides a level of fidelity to store interactions that has never been possible until now and as CEO, I’m excited to work with our team to bring these insights to our customers.”

“The future for Standard AI is bright - the company has never been more equipped to bring the transformative power of AI and computer vision to retail,” said Jordan Fisher, Standard AI’s outgoing CEO and chairman of the board. “I am thrilled to pass the torch to Angie whose deep industry knowledge and experience will build on our technology foundation and guide the company through this next phase of growth.”

“The impressive technology we built for autonomous checkout at Standard has enabled this new path forward to finally give the retail industry precise insights into the interactions between people and products in stores,” said David Woollard, CTO of Standard AI. “Delivering these insights while maintaining shopper privacy has been a core tenant of Standard AI from its early beginnings and I am proud to work with Angie in our new roles to advance our Vision Analytics platform.”

“With Jordan's leadership, Standard AI has been at the forefront of applying AI and computer vision in retail,” said Garry Tan, CEO of Y Combinator and Standard AI board member. “The company's shift to give the industry a clear line of sight into physical operations is a natural step forward and we are excited to welcome Angie's deep industry knowledge and David's technology expertise as Standard AI's newly appointed executive team.”

In the dynamic world of physical retail, understanding shopper behavior, optimizing product availability, and testing product advertising are paramount to success. With Standard AI Vision Analytics, retailers and the brands that stock their stores will be able to access comprehensive metrics, including:

  • Traffic & Impressions: Gain insights into foot traffic patterns and shopper interactions, allowing for optimized store layouts and promotional strategies.
  • Availability & Out-of-Stocks: Identify low-stocks and out-of-stocks, minimizing lost sales opportunities and enhancing shopper satisfaction.
  • Conversion Percentages and Sales: Effectively track conversion rates, sales performance, and where shopper interactions occur within stores, including displays vs home locations.
  • Enhanced Merchandising Tests: Conduct data-driven A/B tests to evaluate the effectiveness of merchandising strategies, ensuring maximum impact on consumer behavior.

Standard AI has created a computer vision-based technology platform that just needs cameras to deliver a new era of understanding. Standard AI understands where shoppers move in-store and with what products they interact, without the use of facial recognition software or any personally identifiable information. Strategic, methodical camera placement coupled with advanced algorithms and the explosion of compute power enables Standard AI’s artificial intelligence platform to focus solely on kinematics, such as how customers interact with shelves. Standard AI’s Vision platform is reinforced by relationships with preeminent firms across cloud, compute, and sensors with Google Cloud, Nvidia, and Axis Communications as partners.

To learn more about Standard AI and its Vision Analytics suite, please visit https://standard.ai.

About Standard AI

Standard AI is equipping brick-and-mortar stores and their suppliers with the data they need to solve the hardest problems in physical retail - unlocking insights with unparalleled fidelity and precision about people, products, and interactions. Helmed by an executive team that spans firms like Mars, Sara Lee, Oracle, NASA, and Adobe, the company is at the forefront of applying artificial intelligence and computer vision to physical retail spaces. For retailers, Standard AI’s Vision Platform offers a quick and easy installation and accelerated revenue uplift. For brands, the platform unlocks first-of-their-kind insights into shoppers’ behavior. Founded in 2017, Standard AI is backed by marquee venture capitalists including Y Combinator, SoftBank, CRV, and EQT Ventures. Learn more at https://standard.ai.

Fonte: Business Wire

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