American startup Standard Cognition rivals market giant Amazon GO in developing technology for cashless stores.
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Despite the tough competition, Standard Cognition has at least 3 advantages over Amazon GO. Which ones — explains the CEO of the company Jordan Fisher.
- Fast integration
For Standard technology, video cameras are attached to the ceiling of the store. The equipment can be installed in a couple of days (or nights) without moving the display cases and shelves with goods.
Amazon’s Just Walk Out technology involves the use of not only cameras but also sensors and RFID tags. To install them, it is necessary to completely empty the room from furniture, which means the temporary closure of the store for some period.
- Low cost of production
Thanks to a small set of equipment and cheaper maintenance, the Standard solution will cost retailers X times less.
- Compatible with any store plannings
Ceiling-mounted cameras take up little space and can be easily integrated into almost any planning.
Standard Cognition technology looks attractive to retailers who do not want or cannot spend a lot of resources on implementing stand-alone checkouts.
The company already works with such well-known chains as Circle K and Compass Group and intends to serve 50 thousand stores in different countries in 5 years.