Caper CEO Looks to Cut the Checkout Line with 'Smart Shopping Cart'
*By Carlo Versano*
A new startup is using the technology pioneered by Amazon in its cashier-less stores and applying it directly to the grocery cart.
Caper, a "smart shopping cart" uses a combination of cameras, sensors, and A.I. ー technology known in the retail industry as "computer vision" ー to identify items as they're placed in the cart.
"Checkout is by far one of the most annoying experiences in physical retail," said Caper CEO Lindon Gao in an interview Friday on Cheddar. Caper will allow customers to bypass the checkout line completely and pay for their purchases directly via an interface on their carts.
That plan to "streamline the checkout experience" will be attractive to customers, Gao said, but it should also appeal to grocers, as the carts can use predictive analytics to suggest items based on recipes or recommend popular products that other shoppers have bought.
He did not mention the jobs that the technology might put at risk. There are 3.5 million cashiers in the U.S., including over 900,000 grocery store cashiers, according to the [Bureau of Labor Statistics](https://www.bls.gov/oes/2017/may/oes412011.htm).
Gao said that Caper would augment cashiers, allowing a new customer experience for those who want it. For store owners, it provides a way to implement cutting-edge technology at a relatively low cost per store. While Gao would not reveal the price of a Caper cart, he said it would pay for itself after 12 months. Whereas an Amazon ($AMZN) Go store necessitates a complete overhaul of a physical space and its operations, Caper does not require any new infrastructure changes or renovations. "We need to complement the store owners' existing operation" Gao said.
The company has raised $3.5 million in venture funding to date. Gao said he isn't worried about the increasing popularity of online grocery shopping, which still only accounts for a fraction of the market.
"The physical grocery experience is not going to change anytime soon."
For full interview [click here](https://cheddar.com/videos/caper-brings-artificial-intelligence-to-the-grocery-aisle).
Nvidia on Wednesday became the first public company to reach a market capitalization of $5 trillion. The ravenous appetite for the Silicon Valley company’s chips is the main reason that the company’s stock price has increased so rapidly since early 2023.
Chris Williamson, Chief Business Economist at S&P Global, breaks down September’s CPI print and inflation trends, explaining what it means for markets.
A big-screen adaptation of the anime “Chainsaw Man” has topped the North American box office, beating a Springsteen biopic and “Black Phone 2.” The movie earned $17.25 million in the U.S. and Canada this weekend. “Black Phone 2” fell to second place with $13 million. Two new releases, the rom-com “Regretting You” and “Springsteen — Deliver Me From Nowhere,” earned $12.85 million and $9.1 million, respectively. “Chainsaw Man – The Movie: Reze Arc” is based on the manga series about a demon hunter. It's another win for Sony-owned Crunchyroll, which also released a “Demon Slayer” film last month that debuted to a record $70 million.
The Federal Aviation Administration says flights departing for Los Angeles International Airport were halted briefly due to a staffing shortage at a Southern California air traffic facility. The FAA issued a temporary ground stop at one of the world’s busiest airports on Sunday morning soon after U.S. Transportation Secretary Sean Duffy predicted that travelers would see more flights delayed as the nation’s air traffic controllers work without pay during the federal government shutdown. The hold on planes taking off for LAX lasted an hour and 45 minutes and didn't appear to cause continued problems. The FAA said staffing shortages also delayed planes headed to Washington, Chicago and Newark, New Jersey on Sunday.
Boeing workers at three Midwest plants where military aircraft and weapons are developed have voted to reject the company’s latest contract offer and to continue a strike that started almost three months ago. The strike by about 3,200 machinists at the plants in the Missouri cities of St. Louis and St. Charles, and in Mascoutah, Illinois, is smaller in scale than a walkout last year by 33,000 Boeing workers who assemble commercial jetliners. The president of the International Association of Machinists says Sunday's outcome shows Boeing hasn't adequately addressed wages and retirement benefits. Boeing says Sunday's vote was close with 51% of union members opposing the revised offer.
