Business Wire

Tracxpoint Signed a Major Agreement to Deploy its Artificial Intelligence Cart (AiC®) Platform at CONAD, One of the Largest and Most Sophisticated Supermarket Chains in Italy with 3,000 Locations in Lieu of Amazon Go after Intensive Study

Share

Tracxpoint, a global provider of next-generation self-checkout grocery solutions, today announced an agreement to roll out its Artificial Intelligence Cart (AiC®) at CONAD DEL TIRRENO, one of the seven cooperatives of CONAD’s chain with more than 3,000 supermarket stores in Italy. This is a major milestone for the Israeli startup in its mission to establish the AiC® platform as the most powerful, accessible and comprehensive solution for self-checkout and personalized in-store engagement on the market today. CONAD DEL TIRRENO will start implementing the AiC® ecosystem during 2019.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181210005176/en/

To view this piece of content from mms.businesswire.com, please give your consent at the top of this page.

The Tracxpoint AiC enables checkout-free stores and personalized in-store engagement for Italy's largest supermarket chain, CONAD. (Photo: Business Wire)

In direct contrast to capital-intensive and smaller store concepts like Amazon Go or its imitators that rely on ceiling cameras for location-based processing, the Tracxpoint AiC platform uses a first of its kind AI connected shopping cart that leverages on-cart cameras coupled with built-in weight sensors and powerful GPUs. The AiC will identify each item added to and deducted from the cart and automatically process on-cart transactions and payment upon leaving the store.

“CONAD has committed to deploying ‘game changers’ for the future of our physical stores. The AiC is not just a complete new smart shopping cart with breakthrough design that can visually detect food and non-food products; it is an entire ecosystem for bringing digital convenience to the physical store - and it will be a relevant factor in keeping our loyal customers coming back,” said Maurizio Barsacchi, CIO CONAD DEL TIRRENO. “Without requiring any cloud connected infrastructure, each AiC recognizes items visually – even in a free fall mode – a distinct advantage against competing concepts that merely rely on the store planogram or location of products. It will be the beginning of a completely new in-store experience.”

The AiC® platform also separates itself from the competition through a variety of unique real-time features, including an on-cart screen that provides access to shopping lists, sends personalized special offers and store navigation. An additional patented feature is an on-cart real-time bidding system for suppliers and comprehensive data mining. Moreover, the GDPR-compliant data mining tool protects customer data and ensures that retailers fully own their customer relationships.

“Tracxpoint provides a unique mix of expertise in the exciting new world of deep learning and the classical realm of computer vision,” said Gidon Moshkovitz, Co-Founder and CEO, Tracxpoint. “Our new Retail AI Engine integrated in the AiC® is built to instantly recognize and register more than 100K products, which allows us to adapt it to different customers and to fulfill different requirements beyond grocery. Since launching our first solution two years ago in more than 150 stores across Israel, we’ve seen considerable excitement in the market for a minimally disruptive platform that addresses multiple pain points of in-store retail at a fixed monthly cost. We are bringing new levels of technology, convenience and value to customers and retailers that no existing solution offers. We eagerly anticipate completing other significant contracts in the US and the EU in 2019 as the AiC becomes the gold standard for all size stores’ self-checkout and in-store customer engagement platforms.”

"Despite the significant changes to most areas of daily life since the invention of the shopping cart in 1937, the look and functionality of the cart has remained exactly the same,” said Edi Bahous, CTO, Tracxpoint. “We decided to change it completely and design a totally modern concept, implementing the newest hardware and software technologies and enabling 5G connectivity, all while keeping the intuitive and simple usability shoppers expect and require. Just as 2006 marked the beginning of the smartphone revolution, 2020 will be the beginning of the new era in retail with our AiC.”

About Tracxpoint

Tracxpoint is a leading global provider of next-generation self-checkout grocery solutions. Its unique Artificial Intelligence Cart (AiC®) platform offers convenient personalized online shopping experiences to grocery shoppers like never before. Established in 2016 by founders with a combined 80 years of experience, the company is changing the grocery shopping experience by integrating ground-breaking AI and sensor fusion technology inside a smart AIoT shopping cart architected by legendary luxury auto designers. Tracxpoint’s three flagship products are the Terminal Cart Management System, the Artificial Intelligence Cart (AiC®) and the AiC® mobile app SDK. The platform gives retailers real-time analytics while also providing the opportunity for more conversions and increased revenue, efficiency and reduced operating costs by offering customers a more personalized and value-added shopping experience. For more information, visit www.tracxpoint.com.

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

Aidan Griffin
Ketner Group Communications
aidan@ketnergroup.com
512-794-8876

About Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

(c) 2018 Business Wire, Inc., All rights reserved.

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

LambdaTest Launches The Phoenix Project, an Employee Resource Group for Women28.3.2024 16:00:00 CET | Press release

LambdaTest, a leading cloud-based unified testing platform, announced the launch of The Phoenix Project, an Employee Resource Group (ERG) dedicated to supporting and promoting the success of its female employees. “LambdaTest is committed to fostering a diverse, inclusive, and equitable workplace where all employees feel valued and empowered to reach their full potential,” said Chandini Chopra, VP of People and Culture at LambdaTest. “The Phoenix Project is a critical step towards achieving this goal by providing a platform for professional development, networking, and mentorship, especially for our women employees.” The Phoenix Project Aims To: Offer professional development workshops, networking opportunities, and dedicated time off for women to participate in ERG initiatives. Provide mentorship programs connecting senior female employees with mentees. Promote leadership development among women within the company. Create a sense of community for women in the workplace. Leadership and

The reopening of the Yokohama Museum of Art adds another innovative and distinctive venue for events in Yokohama28.3.2024 16:00:00 CET | Press release

After extensive renovations, the iconic Yokohama Museum of Art has reopened its doors to visitors from all over the world. The museum’s reopening paves the way to new and closer collaboration with international events in Yokohama. This extraordinary venue is the ideal setting for a one-of-a-kind gathering, in part, supported by the Yokohama Convention & Visitors Bureau (hereinafter YCVB). The Yokohama Museum of Art Founded in 1989, the Yokohama Museum of Art collects over 14,000 works of art that reflect the many facets of life in Yokohama—past, present, and future. The reopening of the museum coincides with the Yokohama Triennale, an international exhibition featuring contemporary artists whose decentralized exhibits turn the entire metropolis into an art museum. The 8th Yokohama Triennale is being held from March 15 to June 9, 2024, with the Yokohama Museum of Art being a pivotal venue for the exhibition. With the museum firmly back on the map as Yokohama’s leading artistic venue, YC

Eight new sustainability-themed experiences—exclusive to Yokohama—for convention participants28.3.2024 16:00:00 CET | Press release

In a survey conducted by Yokohama Convention & Visitors Bureau (hereinafter YCVB), many convention attendees expressed particular interest in Yokohama’s culture, sightseeing spots, and local cuisine. In response, YCVB has developed eight new Yokohama Tours for event attendees to enjoy during their free time in Yokohama, keeping in line with our ethos of sustainability. Noge Area Bar-Hopping Tour, complete with guide Known affectionately by locals as Yokohama’s kitchen, Noge is a bustling nightlife spot that is home to over 600 izakaya (Japanese-style pubs). A knowledgeable local guide will lead participants to all the hidden gems in Noge, where they can indulge in distinctive, delicious pub-style food and drink. With easy on-foot accessibility, participants can rest assured this fun night out won’t impact their carbon footprint. Soto Zen Tour of Sojiji, head temple of the Soto Zen school As a prominent Zen sect in Japan, Soto Zen provides one of the best Zen wellness experiences. Durin

Nordson EFD Releases New 3-Axis Automated Fluid Dispensing Systems28.3.2024 15:00:00 CET | Press release

Nordson EFD, a Nordson company (NASDAQ: NDSN) and leading precision fluid dispensing systems manufacturer is proud to announce the new GVPlus and PROX families of automated fluid dispensing products. Both robotic solutions share a focus on motion, workspace, repeatability, payload, setup, and vision technology enhancements. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240305726899/en/ The GV Series offers market-leading dimensional positional accuracy and deposit placement repeatability. (Photo: Business Wire) The new GVPlus automated fluid dispensing solution offers improved repeatability, bigger payloads with simplified setup requirements, and superior vision capabilities. Repeatability is now best-in-class at 8 μm, improving repeatability to ±0.008 mm. Setting up the robot is easier due to a new dual mounting flange that enables a tool payload of up to 4.5 kg (10 lbs). When paired with the working area of 400 mm x 400 m

Kolmar Korea Wins Case Against Italian Cosmetics Maker Intercos for Suncare Technology Theft28.3.2024 14:00:00 CET | Press release

Kolmar Korea (KRX:161890), a Korean cosmetics ODM (Original Development Manufacturing) company, has announced its victory in a lawsuit against Intercos Korea, the Korean subsidiary of the Italian cosmetics maker, Intercos. Intercos was revealed to have misappropriated and profited from the key technology for suncare (sunscreen) products, originally developed by Kolmar Korea. Kolmar Korea had invested hundreds of billions of KRW in this technology. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240328015022/en/ Kolmar Korea wins the case against Italian cosmetics maker Intercos for stealing suncare technology (Kolmar Korea R&D Complex) (Photo: Kolmar Korea Holdings) Kolmar Korea took legal action for 'trade secret infringement' against its former employees who have leaked the technology and Intercos Korea, resulting in favorable rulings in both civil and criminal cases. The Korean courts ordered Intercos Korea to pay KRW 200

HiddenA line styled icon from Orion Icon Library.Eye