More retailers are getting into the business of seamless shopping by implementing cameras that track items and tabulate the cost, making the customer experience swift, efficient, and headache-free by removing waiting lines.
Circle K convenience stores are in for a makeover, through a partnership with autonomous checkout company Standard Cognition.
"We're trying to constantly look for things to make our customers' lives a bit easier every day," Magnus Tägtström, head of global innovation at Circle K, told Cheddar.
While similar technology has been used at stores like Amazon Go, Standard Cognition's priority, according to CEO Jordan Fisher, is making the customer experience as simple as possible while protecting their identities.
"We have a no facial recognition policy. It's a bright red line for us," Fisher told Cheddar. "As a computer vision company, as a company that leverages cameras, it's incredibly important for us that we're doing this in a principled way."
When it comes to accuracy, Tägtström said each location in a Circle K store is visible by at least three cameras, making it easier to account for items removed or set back in place.
The approach taken by Circle K and Standard Cognition to offer an easier shopping experience by solely using cameras, according to Fisher, is more cost effective and less time consuming than other brands that typically need to remodel their stores to accommodate the new technology.
"It's the same stores that their shoppers know and love; it's the same products — really the same experience, just without the lines," he said.
Alexander Reed, CFA and CIO for Envisage Wealth, breaks down why he thinks rates could stay higher for longer and why real estate, utilities, and regional banks are sectors to avoid.
Big brands that have relied on TikTok videos to reach younger consumers do not appear to be panicking as they wait to see what happens. But they have started planning.
It's been 15 years since the last fatal crash of a U.S. airliner, but you wouldn't know that from a torrent of flight problems that made news in the last three months.
Abortion opponents want the high court to ratify a ruling from a conservative federal appeals court that would limit access to a medication called mifepristone, which was used in nearly two-thirds of abortions last year.
Annie Chechitelli, chief product officer at Turnitin, breaks down how students and teachers alike can learn from artificial intelligence – while still maintaining academic integrity.
Neiman Marcus Group CEO Geoffroy van Raemdonck talks luxury shopping and TikTok, why the company prefers to be private for now, and the benefits of flexible work arrangements.
Rebecca Walser, founder and CEO of Walser Wealth Management, discusses how geopolitical conditions, the bifurcated economy, and other volatility could weigh on markets.