An Australian tech start-up Tiliter has a thing to brag about as it has raised $7.5 million in funding led by Investec Emerging Companies. One of the investors was also Eleanor Venture and New York’s Cornell University.
Tiliter, started in 2017, now advertises themselves as the developer of the most accurate identification software that by the use of Artificial Intelligence identify products without the need for a barcode. They are already able to recognize products with 99% accuracy in less than a second. What is impressive is that the software is able to distinguish organic from non-organic products, even though there is a little appearance difference between them. There are more advantages to barcode-less product recognition. First, there is a potential of reducing checkout time. Retailers could also limit the number of workers and therefore make cost cuts. Incorrect selections (intentional or accidental) will be removed. Also, there will be no need for packaging on which barcodes are located. I believe that user-experience will also be improved.
The software they are using is pre-trained so the is no need for a learning period. Additionally, the software has self-learning abilities and can add a new product to a database within 20 minutes. The technology is also easy to install and use.
Tiliter has also developed a Scan&Go Scale, which works on a similar principle. It is a scale that automatically recognizes items without the need of entering the name of the product manually. Afterward, a client is supposed to scan the barcode which will add products to a virtual cart. This scale is already used in a number of stores in Australia, New Zealand, and the USA.
Tiliter claims to have a price advantage over Amazon which also offers autonomous store solutions. Amazon’s cashier-less technology is called “Just Walk Out” and just started being available to other retailers. Amazon’s technology setup and installation last up to a few weeks, so there is pressure on Tiliter to develop a “plug and play” checkout technology that will be installed quickly.
As the Covid-19 pandemic is not about to leave us any sooner I believe that the founders made a good call backing Tiliter.
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