Visa Embedded Lending June 2024 Banner

Centific and Telaid Partner on AI and Computer Vision Solutions

Centific and Telaid partnered to bring artificial intelligence and computer vision solutions to retail and quick-service restaurant establishments.

With the collaboration, Telaid, a technology integrator, will add Centific’s Pitaya.AI computer vision platform to the portfolio of solutions it brings to its customers, the companies said in a Thursday (Dec. 21) press release.

Pitaya.AI uses AI and computer vision to monitor inventory levels, identify potential threats and provide actionable insights, according to the release.

It helps retail and QSR businesses meet the challenges of safety and shrink while also providing employees with a work environment that is more efficient, more enjoyable and safer, the release said.

“With Pitaya.AI, even the simplest CCTV or self-checkout cameras become advanced internal audit systems complete with behavioral anomaly detection and real-time alerts,” Jagadish Garimella, head of retail and CPG solutions at Centific, said in the release.

Via the partnership, Centific will provide AI and data services, while Telaid will help retailers and QSRs integrate the technology into their operations, according to the release.

“This partnership represents a pivotal moment for Telaid as we harness the potential of AI and computer vision to revolutionize the industry,” Travis Harjula, director of enterprise accounts and emerging technologies at Telaid, said in the release.

In another development in the space, AI platform Everseen said in May that it raised $71 million to scale the company and help retailers prevent theft. Everseen uses computer vision technology to block theft at self-checkout stations.

Computer vision checkout also gives grocers greater insights into store operations, Jordan Fisher, CEO of autonomous retail technology company Standard AI, told PYMNTS in an interview posted in February.

The technology provides them with easier access to information about shelf-stocking, real-time issues in the store and other components of store operations, Fisher said.

Looking ahead, Fisher said he expects more hybrid computer vision stores to emerge.

“I think hybrid is the way forward,” he said. “If you imagine 10 years ago, when self-checkout was really starting to be deployed, if [retailers] had just said, ‘OK, it’s self-checkout everywhere — 100% has to be through self-checkout,’ it would have been a disaster. [You] need that hybrid, and we’re seeing the same thing with autonomous [checkout].”

For all PYMNTS AI and Retail coverage, subscribe to the daily AI and Retail Newsletters.