17th June, Coimbatore: Innovative technology firm Digit7 unveiled new solutions built for its retail customers during the inauguration ceremony of its innovation lab at Coimbatore. The solutions are built to offer advanced digital experiences in artificial intelligence (AI), machine learning (ML), Drone Robotics, IoT and 5G. Mr. Chithrai Mani, the CEO of Digit7, along with visionary leader Dr. Keshab Panda inaugurated the innovation lab and launched the new solutions. Digit7 also held an exclusive preview of its solutions – D-Grab, TagSquare and GlideRobo – during the inauguration ceremony.
Currently, the grab-and-go comprises only 5% of the self-checkout market but is expected to grow at a staggering 37%, according to industry reports. D-Grab is estimated to be a $1.1 billion market in the USA. Data annotation is expected to grow 27% and become a $7 billion market by 2028. Aligning with the reports, TagSquare is also forecasted to have a 27% growth and become a $340 million market.
“We are relentlessly developing solutions to empower our customers with digital. We have entered the smart retail market space with our new solutions at the right time as the technology is still nascent but is set to disrupt the retail industry. Entering the market at this budding time will help us position ourselves as the market leader in the near future. I’m pleased to announce the launch of our new solutions,” said Mr. Mani.
- D-Grab: D-Grab is an AI/ML-powered cashier-less smart store for a simplified shopping experience. It uses a combination of sensors and cameras on its IoT edge to track the customer and the products they pick up.
- TagSquare: AI-powered TagSquare is used for object recognition, behavior analysis, and facial recognition. The solution enables easy and efficient data labelling in hours by training only 20% dataset manually.
- GlideRobo: Smart drones designed for surveillance, deployment and delivering actionable insights. The drones are programmed to fly without GPS and improve inventory data quality, enhance traceability operations, and save time.
“Retailers are just scratching the surface of using invisible data streams and AI to create multilayered, digital experiences,” said Leslie Hand, GVP, IDC Retail Insights. “For most retailers, the reality of digital environments is not the metaverse—yet! Right now, it’s the footing underneath the intelligent store—the infrastructure, connectivity, analytics, and devices that enable digital twins, smart shelves, customer, and employee interaction, and efficient omnichannel transactions.”
“We envisage the future of retail through our solutions by helping our retail customers optimize operations and enhance customer experience. As the industry is set to witness rising demand for cashier-less stores and data annotations, retailers are looking to partner with the right technology vendors. With this launch, we expect to deliver the right solutions and set new standards for digitally-enabled retail solutions,” said Sean Yelamanchi, Co-Founder of Digit7.
About Digit7
InfoVision recently launched Digit7 as an independent entity with a vision of solving key business challenges through the deployment of edge technologies and leveraging its deep industry expertise. Digit7 was initially established in Texas, USA, and we are now expanding our footprints in India. An innovation-driven product company, Digit7 focuses on the Industry 4.0 solutions and emerging technology platform that helps the customers enhance the organization’s customer experience and overall revenue. Our products focus on industry-specific best-in-class solutions and are easily extendable to customer needs and requirements. For more details about Digit7 and its new solutions visit https://www.digit7.io/.
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