CP Group hopes to drive profits from tie-up with Remark to collect customer data
Thailand’s biggest convenience store chain, 7-Eleven, is to roll out state of the art artificial intelligence technologies, including facial and gesture recognition and behaviour analysis of customers and employees, at the chain’s 11,000 stores.
The ubiquitous retailer, whose Thai stores are operated by a unit of the Bangkok-based conglomerate Charoen Pokphand (CP), is to work with Remark Holdings, a Nasdaq-listed AI company with operations in China and the US.
Remark will deploy its KanKan technology, which uses gesture recognition to collect and analyse data points on traffic in stores, staff activities, how long customers linger at specific shelves and even their emotions as they pass through stores.
It can identify members of 7-Eleven’s loyalty programme, allowing managers to single them out for promotions. A “machine learning” element can predict, for example, which products should or should not be stocked at individual stores.
CP Group chairman Soopakij Chearavanont said the technology would help the chain drive revenues, cuts costs and improve margins. He also said he planned to introduce KanKan to Ping An Insurance, the Chinese underwriting giant, in which CP is the biggest shareholder.
“Artificial intelligence has the power to completely transform business in every industry,” Kai-Shing Tao, Remark’s chief executive, told the Financial Times. “CP Group recognised this right away and is making it a very high priority to adopt and implement AI technologies.”
Unlike in the US, where the brand is best known for its soft drinks, Thai 7-Elevens are one-stop shops that also offer banking services such as bill payment. According to Remark and CP All, the CP unit that runs 7-Eleven stores, about 10m people pass through the chain’s stores in Thailand every day.
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source http://news.statii.co.uk/thai-7-eleven-stores-to-adopt-facial-recognition-technology/
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