“Increased customer insights are necessary for the survival of physical retail”
During IBM’s annual flagship event IBM Think Summit on October 3 at the Munich Brewery in Stockholm, Fredrik Hammargården, co-founder and commercialization manager at Indivd, participated on the main stage to talk about Indivds revolutionary technology, the problem of facial recognition and GDPR.
The purpose of
In his speech, Fredrik Hammargården explained that GDPR has changed and continues to change our reality and that it is something very good.
“We are working for
– This is the first ethical facial recognition, which has attracted considerable attention in the IT security and retail industry. And it has really divided the field, where some feel it is fantastic and very exciting that we have developed a GDPR-friendly technology, while others
Fredrik Hammargården explained that facial recognition, with the use of existing store
– The infrastructures for our technology and traditional facial recognition are similar. Both technologies use images from the cameras both use local servers, where image data is collected and destructed. The differences
Customer insights are vital to retail
Such insights are vital to the survival of physical retail in the fight against the ever-growing e-commerce.
– Traditional retail lacks an understanding of its visitors. Studies show that they lack approximately 84 percent of the knowledge they would need to create accurate strategies. The risks for unsuccessful investments or – which is more likely – no investments at all is, therefore, huge which is a death sentence in the fight against e-commerce, explained Fredrik Hammargården and concluded his speech by thanking the trade for all support:
– This is an ongoing journey. We validated the technology just a month ago. We are now planning the first five pilots with national and international retail chains. But we would not have made it this far if it hadn’t been for great efforts from the market and the entire ecosystem, not least from our future prospective customers. We are also grateful for the strong support we have received from IBM Sweden throughout this journey.
Great interest from the research
On a question from the audience if this new technology can help to reduce the big food waste, Fredrik Hammargården replied:
– We have ongoing dialogues with researchers who would like to use our technology to study how food waste can be reduced, but also how the food industry is best adapted to more sustainable production. The industry has today a greater demand for organic goods than they are able to sell in stores. Understanding consumer behavior is a very important insight to change this very thing.
For more information contact:
Fredrik Hammargården, Head of Commercialization & Product Owner, firstname.lastname@example.org