7 AI startups aim to give retailers a happy holiday season

by | Sep 23, 2022 | Technology

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Nothing is hotter than artificial intelligence (AI) startups that can help retailers win big this holiday shopping season. 

According to eMarketer, retailers are turning to artificial intelligence to tackle everything from supply chain challenges and price optimization to self-checkout and fresh food. And retail AI is a massive, fast-growing segment filled with AI startups looking to break into a market that is estimated to hit over 40 billion by 2030.  

These are seven of the hottest AI startups that are helping retailers meet their holiday goals: 

Afresh: The AI startup solving for fresh food

Founded in 2017, San Francisco-based Afresh has been on a tear this year, raising a whopping $115 million in August. Afresh helps thousands of stores tackle the complex supply chain questions that have always existed around the perimeter of the supermarket — with its fruits, vegetables, fresh meat and fish. That is, how can stores make sure they have enough perfectly ripe, fresh foods available, while minimizing losses and reducing waste from food that is past its prime? 

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According to a company press release, Afresh is on track to help retailers save 34 million pounds of food waste by the end of 2022. It uses AI to analyze a supermarket’s previous demand and data trends, which allows grocers to keep fresh food for as little time as possible. The platform uses an algorithm to assess what is currently in the store, with a “confidence interval” that includes how perishable the item is. Workers help train the AI-driven model by periodically counting inventory by hand. 

AiFi: AI-powered cashierless checkout

Santa Clara, California-based AiFi offers a frictionless and cashierless AI-powered retail solution deployed in diverse locations such as sports stadiums, music festivals, grocery store chains and college campuses. Steve Gu cofounded AiFi in 2016 with his wife, Ying Zheng, and raised a fresh $65 million in March. Both Gu and Zheng have Ph.D.s in computer v …

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