The second pilot test experiment of the AI Boundaryless Retail Center was conducted by AI and retail technology experts from the two companies as part of their strategic partnership signed last year.
The technology has been installed at the AI Retailing Zone in two Circle K convenience stores in Hong Kong.
Customers can use the AI-powered checkout solution by placing products on the smart checkout counter, pressing the AI Recognition button on the cashier screen to scan the products, and completing payment with an Octopus Card.
The solution uses an AI algorithm capable of recognizing up to five products within one second with an accuracy rate of over 97%, which has the potential to reduce the in-store checkout time by 30%.
“This is an important milestone for Fung Retailing as the first in the industry to unveil the first AI-powered checkout pilot experience in a convenience store environment,” commented Sabrina Fung, group managing director of Fung Retailing Group.
“This underscores our on-going commitment to experiment with new technologies like AI and to build partnerships like the one with JD.com to enhance the end-customer experience, further transforming the future of retail for Greater China.”
As part of their AI partnership, Fung Retailing Group and JD.com are trialling face recognition enabled smart displays at two of Fung Retailing Group's fashion retail brand stores in China.