The AI startup Indivd are revolutionizing the retail industry with a new patent
The AI startup Indivd has now filed a patent application to PRV (Patent and Registration Office) to protect the company’s new unique technology, which makes it possible to follow and identify people’s behaviors completely anonymously over time. The technology is based on face recognition via existing cameras in the stores and will, initially, be used in Swedish stores.
“We will start with Sweden but Indivd is an international scalable and generic technology and service which also can be applied in areas outside of retail,” says Victor Molén, CEO of Indivd.
Indivd helps the stores to gather information about every store visitor, a classic and previously completely unsolvable dilemma, trough facial recognition without violating existing laws and interfering with personal privacy.
“We’ve solved the problem in a technically elegant and unique way,” said Leonard Johard, CIO at Indivd and one of the world’s leading experts in next AI-generation Reinforcement Learning.
The new AI technology allows retailers now to pass e-commerce.
– This is the first time the retailer can retrieve similar information about his customers which has previously only been available online. Stores do not need to obtain any approval from the visitors, thanks to the built-in anonymization.
The technology can be compared to online cookies with the difference that the physical store’s camera technology will result in a better coverage and be able to capture more information than what’s possible online.
– This gives the stores valuable insights and a deeper understanding of what and why the visitors do as they do. With the help of Indivd’s solution the stores may even, in the long term, be able to understand more offline than online, as legislation will further tighten the possibilities online. Our technology will completely revolutionize physical retail, “said Leonard Johard.
Indivd is a startup at the incubator BizMaker and, with the help of proprietary AI technology, offers retailers a unique understanding and unique insights for all visitors and customers in their physical stores.