Here are the innovations shaping the future of retail spotlighted at Converge @ Walmart 2022
The second edition of Converge @2022 – widely acknowledged as the biggest retail tech event of the year – brought together global and local leaders at the intersection of retail and technology. Curated around the core theme of ‘reimagining retail tech, the power-packed and insightful sessions decoded cutting-edge innovations that promise to change the retail landscape.
One of the highlights of the event was the India Innovators’ Showcase, which featured a curated list of startups. Here are some key insights from the founders who showcased their innovations during the event.
Tracking products at unit level in a multi-stakeholder environment with blockchain
StaTwig is a blockchain-powered supply chain management platform that tracks products at unit level in a multi-stakeholder environment.
“Using the StaTwig solution, our clients, including the Government of Telangana have seen up to 23 percent reduction in supply chain failures or product losses during the first year of deployment. In scale-up mode, the reduction in these failures can reach up to 67 percent,” said Sid Chakravarthy, Founder and CEO,.
One of its platforms, VaccineLedger, leverages blockchain technology and connected sensors to provide real-time, tamper-proof, and end-to-end tracking of the complete lifecycle of vaccines from manufacturers to beneficiaries.
An engine for extended reality-enabled virtual worlds
“India is well placed to enter the Metaverse in the biggest and the most impactful way, and it will happen through tech, creativity, culture and commerce,” said Farheen Ahmad, CEO and Co-Founder,.
Interality, is an engine for XR-enabled virtual worlds that lets users create and monetise content, products and experiences in the Metaverse.
Virtual worlds built by Interality allow users to choose from a range of activities, including engaging with Web3 communities, opting for play-to-earn (P2E) games, or attending immersive live concerts and performances. The startup offers a host of tools and technologies that facilitate the in-world economy through the monetisation of experiences, AR/VR content, and digital assets.
Virtual avatars with empathetic AI to improve customer experiences
“Artificial Intelligence and Machine Learning are areas which will permeate society in many dimensions. Of the various problems in these fields, human-machine speech communication has been one of the longest standing and still remains one of the toughest to solve,” said Ananthakrishnan Gopal, Co-Founder and CTO,.
DaveAI, offers the solution by leveraging patent pending empathetic AI technology to build interactive digital personas for brands. The avatars can strike conversations with customers in natural language, understand their preferences, and even make personalised recommendations both via speech and text.
Built with empathetic AI technology, the startup collects both product data and customer interaction data which it then uses to create an affinity graph – nudging the customer to take the right action that benefits both themselves and the brand. The platform, powered by online learning genetic algorithms while being industry-agnostic, helps create an affinity graph specific to each enterprise once deployed.
AI-powered retail visual intelligence for massive sales growth
Despite the phenomenal sales growth, frequent store-level stockouts, supply chain strains and rising customer expectations dominate headlines globally. This forces every customer-packaged goods (CPG) leader to take a long hard look at how to keep their store shelves optimally stocked, drive store sales, and safeguard their market share.
“Infilect Technologies is challenging the ethos of manual intervention by redefining merchandising audits and gathering retail insights,” said Vijay Gabale, Co-Founder and CTO, Technologies.
“By combining Artificial Intelligence with Computer Vision technology, Infilect is enabling retail brands to gather finer details of their in-store execution, track on-shelf product availability, monitor store compliances, and help optimise their trade marketing pay-outs in real-time,” he added.
Access the Converge @ Walmart 2022 archives
Missed out on registering for Converge @ Walmart 2022? You could still catch India Innovators Showcase and other archived sessions from the event