Entering a convenience store is supposed to be quick and seamless, but often when a crowd appears the long lines can make shopping tedious and frustrating. The rise of artificial intelligence (AI) has made its way into shopping. CEO and co-founder Steve Gu sits down with What Just Happened? Host Christine Russo on the direction of AI in retail.
As e-commerce usage grows, many consumers are still looking for physical spaces, including in-store purchases. “I believe about more than 80% of transactions still happen in the physical world,” Gu said. “As human beings we still need to interact with physical objects and although many of us are fans online, I myself have included the majority of the activities we still do in the world, and that’s where we think AI can play a huge role.”
AiFi The new partnership with the Miami Dolphins and Detroit Lions allows fans to scan a QR code, credit card or app to tap and pay, then they simply grab their item and return to their intended viewing. “I want them to go as fast as possible like a Google search engine because I know their goal is to come and go so they can focus on their game. And at the end of the day, we want a store fully self-contained, or a store that can basically run on its own,” Gu said.
The beauty of AiFi, Gu further explained, is that they partner with retailers, they don’t compete with them. “We are a technology company by heart. We are not retailers, but we chose to work with retailers to make this whole amazing shopping experience happen because we know the future is in AI,” he said.
AiFi plans to integrate its products into more local mom-and-pop stores and other locations around the world. “The best part of our system is that we can support different types of users, all based on the same operating platform. We adapt it to the customer’s needs because we are flexible to work with and we want to provide solutions,” Gu said.