Explore these top 5 computer vision applications to make better decisions for your retail industry

Computer vision software may assist businesses in addressing critical retail pain points, resulting in improved consumer and staff experiences. Computer vision applications are being used by an increasing number of retail and e-commerce businesses to better satisfy consumer requests and manage inventories. Potential AI applications and computer vision are revolutionizing the retail industry by enabling merchants to gain valuable information, expedite processes, and improve the consumer experience.

In this article, we will know what is computer vision and we will explore the Top 5 computer vision applications that will help you take better business decisions.

 What is Computer Vision?

Computer Vision is a branch of artificial intelligence (AI) that focuses on teaching computers to interpret and comprehend visual information in the same way that people do. This technique is used in a variety of applications to analyze photos and videos and derive conclusions based on the information contained within them. Computer Vision is being used in a variety of ways in the retail business. For starters, it is utilized in stores for item detection and recognition. This allows merchants to keep track of inventory levels, detect out-of-stock products, and automate the restocking process.

1.Interactive Experiences

Virtual and augmented realities are digital retail developments that enable businesses to provide technology-assisted engagement. This allows clients to make better-informed judgments while also adding a fun aspect to their virtual shopping experience. QR codes are the most convenient method to incorporate virtual and augmented worlds into your retail operation. Customers may learn more about products by scanning the code with their phone and applying a filter to view themselves in specialized applications.

Customers who wish to try on clothing, accessories, cosmetics, furniture, and other items without having to physically touch them may appreciate virtual fitting rooms. Customers may use IKEA's Place app, for example, to place IKEA objects in their own houses.

2.Inventory Management

It may be difficult to fulfill client demand by offering the proper quantity of products without overstocking – this can result in things expiring and going to waste, resulting in both stock and money being lost. Customers view items at the right time, location, and price when they have optimum on-shelf availability. Machine learning and computer vision can be useful tools in reducing the mismanagement of on-shelf availability.

Through real-time data gathering of photographs and videos, you can always monitor and inspect your inventory. Computer vision software may also assist in detecting mislabeled commodities, ordering from suppliers, and much more. Auchan, one of Europe's largest supermarket merchants, has installed Internet of Things and computer vision-powered autonomous Trax robots in 34 of its Portuguese stores to check stocks. The data is then collected and compiled by computers to provide a report with important insights and actionable metrics.

3.Automated Stores

In recent years, customer service automation has gained in popularity, resulting in the growing use of computer vision systems in automated checkouts. These systems enable in-store cameras and sensors to properly track shelves, items, and even consumers. No-contact stores, in which consumers have a contactless, cashless, and autonomous experience, strive to decrease friction and delays in the shopping flow – as well as to eliminate the human touch.

Amazon Go uses artificial intelligence-enabled cameras, infrared lead sensors, computer vision, smartphone applications, RFID strips, and microphones to allow shoppers to just walk in, place their purchases in a cart, pay, and go.

 4.Retail Heat Maps

Computer vision may assist you in creating retail heat maps, which can provide you with a better knowledge of your store's operation. This system detects consumer movement in real-time, assigning various colors based on traffic volume on each floor section. Samsung, for example, optimized its shop for the pre-launch of the Galaxy S9 mobile phone using both data analytics and computer vision. The firm collected demographic, dwell duration, footprint, and product interaction data using a variety of in-store computer vision cameras.

This allowed Samsung to discover the zones with the highest conversion impact, the most effective message, and when the shop was understaffed, allowing the firm to modify the floor layout in real-time and maximize the value of their marketing efforts.

5.AI-Enabled Security Cameras

Security cameras equipped with artificial intelligence, 5G, and computer vision technologies may be trained to identify the presence and removal of certain objects in stores. They can also detect footfall and movement patterns. These cameras can aid in crime prevention by recognizing human faces and scanning license plates and QR codes on objects, making it simpler to catch shoplifters. Tracking client behavior is useful for more than just crime prevention, since it may provide information about product demand.

You may divide consumer pathways across the business and discover which promotions are garnering interaction and which aren't by identifying trends in data. If adding sensors isn't an option, you may use deep learning algorithms to interpret current video feeds.