A2Z Cust2Mate Files Patent Application for AI-Powered Shopping Cart Inventory Change Indicator System

Rhea-AI Summary

A2Z Cust2Mate Solutions Corp. (NASDAQ:AZ) has filed a patent application for its AI-powered Shopping Cart Inventory Change Indicator System. This innovative solution aims to address inventory shrinkage issues in retail, which cost U.S. retailers an estimated $142 billion in 2023, a 25% increase from 2022. The system utilizes:

• AI-driven anomaly detection for real-time shopper behavior analysis
• Barcode scanner for item tracking
• Computer vision system with high-resolution cameras for product recognition
• Security scale for weight measurement

The advanced change detection solution employs strategically positioned cameras to capture detailed images of items in the cart, enabling precise monitoring and real-time inventory updates. This technology is designed to significantly improve inventory accuracy and security in retail environments.

Positive

• Patent application filed for AI-powered Shopping Cart Inventory Change Indicator System
• System addresses $142 billion inventory shrinkage problem in U.S. retail
• Advanced technology combines AI, computer vision, and weight measurement for improved accuracy
• Potential to significantly enhance retail operational efficiency and security

Negative

• None.

Insights

Financial Analyst

The patent application for A2Z's AI-powered Shopping Cart Inventory Change Indicator System is a strategic move in addressing a significant market need. With U.S. retailers facing $142 billion in inventory shrinkage losses in 2023, a 25% increase from 2022, this technology could potentially capture a substantial market share. However, it's important to note that patent applications don't guarantee approval or market success. Investors should consider the long development cycle for such technologies and potential competition in this space. While the news is promising, it's too early to quantify the financial impact on A2Z's bottom line. The company's ability to commercialize this technology efficiently will be key to realizing its potential value.

Tech Expert

A2Z's Shopping Cart Inventory Change Indicator System represents a significant technological advancement in retail loss prevention. The integration of AI-driven anomaly detection, computer vision and weight sensing creates a comprehensive solution for real-time inventory tracking. The system's ability to detect subtle changes through high-resolution cameras is particularly innovative. However, the success of this technology will depend on its accuracy in diverse retail environments and its ability to minimize false positives. Potential challenges include processing power requirements for real-time AI analysis and ensuring customer privacy. If successfully implemented, this system could set a new standard for smart shopping carts, potentially disrupting traditional loss prevention methods in retail.

Market Research Analyst

The retail industry's growing concern over inventory shrinkage presents a significant market opportunity for A2Z's new technology. With losses increasing by 25% year-over-year, retailers are likely to be receptive to innovative solutions. However, market adoption may face hurdles such as implementation costs, integration with existing systems and potential customer resistance to perceived surveillance. The success of this product will largely depend on A2Z's ability to demonstrate a clear ROI to retailers and address any privacy concerns from shoppers. Additionally, the company will need to navigate potential competition from established loss prevention solution providers. Overall, while the market potential is substantial, A2Z's execution in product development, marketing and sales will be important in determining its market success.

TEL AVIV, ISRAEL / ACCESSWIRE / September 12, 2024 / A2Z Cust2Mate Solutions Corp. ("A2Z" or the "Company") (NASDAQ:AZ)(FRA - WKN:A3CSQ), a global leader in innovative technology solutions, is pleased to announce that its subsidiary Cust2Mate Ltd., a leading provider of smart shopping cart solutions, has submitted a patent application for its Shopping Cart Inventory Change Indicator System, a solution designed to address inventory shrinkage issues in retail through the application of advanced technologies, powered sophisticated proprietary artificial intelligence (AI).

In 2023, U.S. retailers suffered an estimated $142 billion in losses due to inventory shrink, 25% more than in 2022, according to a WSJ report, citing figures from investment bank William Blair.

The core of the Shopping Cart Inventory Change Indicator System is its AI-driven anomaly detection module. This module employs deep learning algorithms to monitor and analyze shopper behavior in real-time, identifying patterns that may indicate theft or other irregular activities. Complementing this, the system includes a barcode scanner for item tracking, a computer vision system with high-resolution cameras for product recognition, and a security scale that measures item weight to detect discrepancies.

A key feature of the system is its advanced change detection solution using a camera system. The high-resolution cameras are strategically positioned to capture detailed images of items placed into or removed from the shopping cart. The computer vision system processes these images to detect any changes, ensuring accurate product recognition and real-time inventory updates. This precise monitoring capability enables the system to identify discrepancies and potential theft attempts, thereby significantly improving inventory accuracy and security.

Mr. Gadi Graus, CEO of A2Z, commented, "A2Z focuses on leveraging artificial intelligence to provide sophisticated solutions for retail challenges. The patent-pending Shopping Cart Inventory Change Indicator System exemplifies this approach, offering an advanced method for inventory management and theft mitigation. As the retail sector evolves, Cust2Mate is committed to developing technologies that enhance operational efficiency and security."

About A2Z Cust2Mate Solutions Corp.

A2Z Cust2Mate Solutions Corp. brings innovation, ease, excitement and value to retailers and shoppers. The Company is transforming brick-and-mortar retail with innovative smart shopping cart solutions that digitize the in-store shopping experience. The proven-in-use, friendly, sensor rich, AI driven carts enhance customer satisfaction and loyalty, minimize shrinkage, optimize retailers' operations and enable new business models. The smart carts streamline in-store shopping by enabling in-cart scanning and payment, allowing users to bypass checkout lines while alleviating labor shortages. Retailers can optimize merchandising, store layouts and promotions from data-driven insights, while shoppers get real-time information and personalized offers, turning a necessary chore into a fun and rewarding experience.

For more information on A2Z Cust2Mate Solutions Corp. (NASDAQ:AZ)($AZ)(FRA - WKN:A3CSQ) and its subsidiary, Cust2mate Ltd., please visit, please visit www.cust2mate.com.

Cautionary Statement Regarding Forward-looking Statements

Matters discussed in this press release may contain forward-looking statements that are subject to substantial risks and uncertainties. Forward-looking statements contained in this press release may be identified by the use of words such as "anticipate," "believe," "contemplate," "could," "estimate," "expect," "intend," "seek," "may," "might," "plan," "potential," "predict," "project," "target," "aim," "should," "will" "would," or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on the Company's current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict, including whether the referenced patent will be granted. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the Company's filings on EDGAR and with the SEC. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. Forward-looking statements contained in this announcement are made as of this date, and the Company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. This press release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities described herein.

Company Contact Information:

Gadi Graus, CEO
Gadi.g@a2zas.com
+972-73-3700544

Investor Contacts:

Brett Maas, Managing Principal, Hayden IR, LLC
brett@haydenir.com
(646) 536-7331

SOURCE: A2Z Cust2Mate Solutions Corp.

View the original press release on accesswire.com

FAQ

What is the purpose of A2Z Cust2Mate's new Shopping Cart Inventory Change Indicator System?

The system aims to address inventory shrinkage issues in retail by using AI and advanced technologies to monitor and analyze shopper behavior, track items, and detect potential theft or irregular activities in real-time.

How much did U.S. retailers lose due to inventory shrinkage in 2023, according to the press release?

U.S. retailers suffered an estimated $142 billion in losses due to inventory shrink in 2023, which was 25% more than in 2022, according to figures cited from investment bank William Blair.

What technologies does A2Z's (NASDAQ:AZ) new shopping cart system use?

The system uses AI-driven anomaly detection, a barcode scanner, a computer vision system with high-resolution cameras, and a security scale for weight measurement to monitor and analyze shopping cart contents and shopper behavior.

When did A2Z Cust2Mate file the patent application for its new shopping cart system?

The press release, dated September 12, 2024, announces that A2Z Cust2Mate has submitted a patent application for its Shopping Cart Inventory Change Indicator System, but doesn't specify the exact filing date.