The problem: revenue loss and lack of customer insights in retail 

The retail industry is grappling with significant revenue loss due to: 

• Shrinkage at checkout counters ($50.6 billion in the US) 
• Long checkout lines ($37.7 billion in the US) 
• Empty shelves ($144.9 billion in the US) 

Moreover, retailers often lack valuable data on customer demographics and in-store behavior, which hampers their ability to make informed decisions. 

The Solution: AiVA’s plug-and-play Perception Device 

AiVA offers a plug-and-play Perception Device that seamlessly integrates with existing CCTV systems. This device extracts real-time data based on what it “sees” through the cameras, providing actionable insights to retailers. 

The Market: A surge in AI and computer vision adoption 

The retail industry has seen a 600% increase in AI and machine learning adoption since 2016. While only 3% of retailers have implemented computer vision technology, 40% plan to do so within the next two years. The technology not only aims to eliminate lines and solve shelf shortages but also offers added security against shoplifting. 

Why now?

The International Finance Corporation estimates that 40% of MSMEs in developing countries have an unmet financing need of $5.2 trillion annually. The financial services industry is undergoing a digital transformation, making it the perfect time for AiVA to step in and offer its innovative solutions.