Remark Holdings, Inc. (NASDAQ: MARK), a diversified global technology company with leading artificial intelligence (AI) technologies and digital media properties, including Vegas.com, today announced that it has commenced the roll-out of KanKan Smart Eyes for Retail, its first SaaS-based AI retail product.
Designed for small and medium-sized retail environments, KanKan Smart Eyes for Retail applies advanced computer-vision and data-analysis technologies to provide store operators and staff with powerful insights on new and return customers.
By delivering accurate details about their customers in real-time, Smart Eyes’ analysis dashboard empowers retailers to make quicker decisions that better serve their customers, and it supports more informed sales opportunities. The AI product is turn-key, works with a wide range of existing store cameras and comes with zero upfront costs and a low monthly subscription fee. Through its local partners, KanKan has secured agreements to install KanKan Smart Eyes for Retail in more than 10,000 stores in Shanghai, China and is aiming to enter more than 500,000 retail stores in China and Southeast Asia.
KanKan Smart Eyes for Retail is part of a broad range of easy-to-install AI products being developed and launched by KanKan. Such solutions utilize strong semantic, perceptual and cognitive computing capabilities to connect and convert physical, Internet and social data into actionable smart data, giving businesses greater insights into their consumers’ behavior and into the businesses’ daily operations. KanKan is also currently working with its larger clients to install its more comprehensive AI and data solutions in more than 20,000 retail stores in China and Southeast Asia, a population including food stores, supermarkets, convenience stores, super-brand malls and fast food restaurants.
“We are pleased to begin deployment of our KanKan Smart Eyes products in conjunction with our partners across a range of retail environments,” said Kai-Shing Tao, Chairman and Chief Executive Officer of Remark Holdings. “Our ground-breaking products are aimed at empowering retailers with valuable and accurate customer data in real time, allowing them to deliver better shopping experiences at much lower cost and with higher conversion rates. Our Smart Eyes for Retail product represents a very accessible and practical solution for retailers to tap into our powerful AI technology and immediately see the benefits.”
“We remain focused on efficiently leveraging our advanced AI technology to enable a broad range of applications across multiple sectors. Beyond retail, we continue to work directly with our partners to lay the groundwork for the launch of our AI-driven products in the financial, workplace and public safety sectors during the second half of 2018.
Defined by rapid deployment, low maintenance costs and highly-accurate and actionable results, KanKan applies the power of AI to deliver simple solutions to complex problems. We remain well on track in executing our plan and look forward to a very successful year ahead.”
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