AI boom promises to unlock $4 trillion in market value
Cloud technology majors are investing heavily into building AI infrastructure. The trend is akin to the wave of mobile and cloud-computing investments that disrupted the market a few years back. Amazon, Microsoft, and Google will realize USD 2 trillion in additional revenues from AI
And riding this wave will be technology companies which build effective AI solutions. Over the past few years, businesses have been running pilot projects in generative AI to evaluate the benefits of such solutions for their operations. If these pilot projects are to translate into large scale deployments, a few factors will become critical.
AI solutions must deliver value
As technology companies are jostling for elbow room in a market that is witnessing its biggest boom, their success will be dependent on the value that their AI solutions deliver to their customers. For instance, retail companies across the US and Europe are facing steep financial losses due to rise in shoplifting - over the past few years, retail shrinkage have exceeded billions of dollars across these regions.
AI solutions which can solve this key issue while providing a host of other benefits will become leaders in this segment. SAI Group is focused on solving this complex problem using machine learning and visual AI technologies.
User-friendly AI solutions that improve operational efficiencies
AI solutions that can augment people’s activities and enhance the overall efficiency will be in focus. Businesses are looking to provide a customer-friendly environment to ensure customer delight which can drive repeat visits and derive recurring revenues from their customers. Any solution that can reduce friction in operations will quickly gain popularity and market share.
SAI group’s visual AI platform discreetly informs customers when it detects anomalies enabling customers to take corrective action without intervention from the store staff. For instance, in cases of incorrect product scanning, which could have been a result of inadvertent action, the solution will inform the customer through an alert at the counter enabling the customers to take action on their own.
While the retail industry aims to prevent shoplifting, creative solutions are needed to ensure that genuine customers are not disturbed. SAI Group’s visual AI solution eases the task of store staff and security personnel while providing a comprehensive and intelligent store surveillance solution. SAI Group’s AI platform can detect and prevent theft in the aisles as well the store counters.
AI needs to be cost-effective
One of the biggest challenges that AI solution providers face today is to make their solutions cost-effective. Whether it is a fixed cost or a per-seat subscription, AI solutions need to ensure that:
- They cover their costs in terms of the computing resources that they consume
- Their customers do not find it difficult to justify the costs incurred while adopting AI
SAI Group offers highly competitive solutions that ensure return on investment within a few months of deployment.
About SAI
As a leader in computer vision technology, SAI Group delivers cutting-edge, multi-modal AI solutions into retail environments. Using a unique platform approach, its technology uses existing camera systems to target losses, increase store safety, and underpin operational efficiencies.
All solutions are built from the ground up to ensure the highest levels of security and data protection, respecting the privacy expectations of the public and operating to stringent ethical standards while delivering substantial value to our clients. Globally, SAI monitors millions of transactions per day, protecting the revenues from tens of millions of product sales and hundreds of millions of customer interactions. Its models also accurately identify anti-social behaviour, aggression and violence, helping to de-escalate situations with real-time interfaces to security officers and operations centres.
