Asian Spectator

Business & Finance Asia

Fung Retailing Group and JD.com Showcase Hong Kong’s First AI Checkout Experience

  • Written by Fung Retailing Limited

Circle K first to use AI-image recognition technology, reducing checkout time by 30%

HONG KONG, CHINA - Media OutReach[1] - 13 March 2019 -Fung Retailing Group, with a network of over 3,300 stores, and JD.com, China's largest retailer, today unveiled Hong Kong's first AI-powered checkout solution in a retail store environment, a result of the strategic partnership between the retail giant and JD.com signed in 2018.

Fung Retailing Group and JD.com Showcase Hong Kong’s First AI Checkout Experience

From left to right: Victor Fung, Group Chairman of Fung Group, Sabrina Fung, Group Managing Director of Fung Retailing Limited, Dr. Bowen Zhou, Vice President of JD.com and Head of JD's AI Platform and Research and Richard Yeung, Chief Executive Officer of Convenience Retail Asia at A.I.Retailing Zone at one of Circle K stores

As the second pilot test experiment of the AI Boundaryless Retail Center, composed of AI and retail technology experts from Fung Retailing Group and JD.com, the AI-powered checkout solution represents the first AI checkout experience featuring image recognition technology in Hong Kong. This technology is currently installed at the A.I.Retailing Zone in two Circle K stores^ in Hong Kong. 

Designed to make the checkout experience as easy and hassle-free as possible, customers can complete the checkout process using the AI-powered checkout solution in just four seconds with three simple steps: 1) Place products on the smart checkout counter; 2) Press the A.I.Recognition (A.I.R.) button on the cashier screen to scan the products; 3) Complete payment with an Octopus card.

The advanced AI algorithm behind the solution enables the checkout counter to recognize up to five products within one second with an accuracy rate of over 97%, reducing the overall in-store checkout time by 30%.

Sabrina Fung, Group Managing Director of Fung Retailing Group, said, "This is an important milestone for Fung Retailing as the first in the industry to unveil the first AI-powered checkout pilot experience in a convenience store environment. This underscores our on-going commitment to experiment with new technologies like AI and to build partnerships like the one with JD.com to enhance the end-customer experience, further transforming the future of retail for Greater China."

Dr. Bowen Zhou, Vice President of JD.com and Head of JD's AI Platform and Research, said, "AI will continue to play a critical role in transforming the retail landscape. Retailers who are able to capitalize on this trend, will have a competitive edge among their peers. Leveraging Fung Retailing's offline retail expertise and JD.com's leading retail technology, this pilot project represents a critical first step in collectively realizing our vision for smarter and more convenient retail." 

Another project from the AI partnership between Fung Retailing Group and JD.com is the facial recognition-enabled smart displays which are currently being trailed at two stores of one of the fashion retail brands under Fung Retailing Group in Shanghai, China. The facial-recognition experiment was to enhance the consumer experience by providing better insights on product preferences to the retailer, to improve the quality of personalized product recommendations for our customers.

The A.I.Retailing Zone^ is open starting today.

^Circle K store address:

  • Shop 126 1st Floor, liberte place, No. 833 Lai Chi Kok Road, Kowloon
  • Shop Nos. 9-12 on Ground Floor and Unit Nos. 9-11 on First Floor, Excelsior Plaza, Yee On Building, No. 26 East Point Road, Hong Kong

 [2]

References

  1. ^ Media OutReach (www.media-outreach.com)
  2. ^   (www.media-outreach.com)

Authors: Fung Retailing Limited

Read more http://www.media-outreach.com/release.php/View/8197#Contact

WCG 2019 Xi'an Announces New Horizons' Games

SEOUL, South Korea and XI'AN, China, May 24, 2019 /PRNewswire-AsiaNet/ -- - Be the [FUTURE] Player! - The key differentiator of the WCG is the 'New Horizons' category. Pioneering future spor...

Chengdu, Foodie Heaven in Asia

CHENGDU, China, May 23, 2019 /Xinhua-AsiaNet/-- The CPAFF, which ran from May 15 through May 22 in the capital city of Southwest China's Sichuan province, presented 45 sub-events and sidesho...

EOS Unveils Four New Metal Materials and Processes for Series ...

KRAILLING, Germany, May 24, 2019 /PRNewswire-AsiaNet/ -- Four new EOS metal materials open up new application possibilities. Comprehensive data on the material properties provide transparenc...

EOS Presents New Materials and Processes for Series Additive M...

KRAILLING, Germany, May 24, 2019 /PRNewswire-AsiaNet/ -- Four new EOS metal materials open up new application possibilities. Comprehensive data on the material properties provide transparenc...

Ovid Therapeutics to Present at the 12th International Epileps...

NEW YORK, May 24, 2019 /PRNewswire-AsiaNet/ -- -- First scientific presentation of OV-935 (TAK-935) safety and tolerability data in developmental and epileptic encephalopathies from the Phas...

Royal Canadian Mint Silver Coin Celebrates 50th Anniversary of...

MONTREAL, May 24, 2019 /PRNewswire-AsiaNet/ -- In 1969, Plastic Ono Band (John Lennon and Yoko Ono) recorded Give Peace A Chance, an anti-war anthem for generations of pacifists and music fa...

C-V2X Contributes to Safer Roads for Everyone

BERLIN, May 23. 2019 /PRNewswire-AsiaNet/-- 5GAA live demo event in BerlinSmart mobility technology, which we have been developing over the years, is now a reality. 'Cellular Vehicle-to-Ever...

Immediately Correct Website Errors With the Monsido Web Govern...

SAN DIEGO, May 23, 2019 /PRNewswire-AsiaNet/ -- -- PageCorrect, a First-to-Market Feature, Enables Users to Fix Quality Assurance and Accessibility Errors Without Logging into Their Content ...

Connecting and Empowering the China-ASEAN Media Cooperation Th...

BEIJING, May 23, 2019 /PRNewswire-AsiaNet/-- 2019 is the year of China-ASEAN Media Exchange Year. The "2019 China-ASEAN Media Cooperation Forum" held in Beijing on May 14 focused on the them...

Shell starts production at Appomattox in the Gulf of Mexico

HOUSTON, May 23, 2019 /PRNewswire-AsiaNet/-- -- First structure in Norphlet comes online ahead of schedule, below FID estimate Royal Dutch Shell plc, through its subsidiary Shell Offshore In...

Hublot's Family of Tennis Champions in Paris

PARIS, May 23, 2019 /PRNewswire-AsiaNet/ -- GAME, SET AND MATCH HUBLOT!An e-tennis tournament with Simona Halep, winner of the 2018 French Open, plus Elina Svitolina, Karolina Pliskova and B...

Alaya Consulting is First ESG Advisory in Asia to Receive Approval for Science-Based Emissions Target

HONG KONG, May 23, 2019 - (ACN Newswire) - Alaya Consulting, a leading ESG Advisory in Hong Kong, announces its long-term Greenhouse Gas (GHG) emission reduction target has been approved as...

The 24th GILF Kicks off to Offer Global Buyers a Feast with 6 ...

ZHONGSHAN, China, May 23, 2019 /PRNewswire-Asianet/-- Since the first exhibition in 1999, the China (Guzhen) International Lighting Fair (hereinafter GILF) has become a hub of lighting procu...

PHEBRA ESTABLISHES NEW SUBSIDIARY IN CANADA AND ANNOUNCES MARK...

SYDNEY, Australia, May 23, 2019/MedianetInternational-AsiaNet/-- Australian pharmaceutical firm Phebra (the 'Company') has continued its international business expansion with the opening of ...

Joey Yap Held His First-ever Business Academy to Help Aspiring Entrepreneurs of 25 Different Nationalities Formulate Winning Strategies for Business Success

Over 1,000 budding entrepreneurs gathered at Kuala Lumpur, Malaysia to learn the different techniques about marketing, tech, finance, metaphysics and more SINGAPORE - Media OutReac...

Chinese dairy giant Yili wins top int'l award in talent develo...

WASHINGTON, May 23, 2019 /PRNewswire-AsiaNet/ -- Yili Group, China's largest dairy product company, received the "Excellence in Practice Awards" on May 20 in Washington DC, US, with its whol...

ITE Hong Kong 2019 – the 33rd ITE (leisure) 14th ITE MICE

A "world" of travels facilitating Asians traveling the World HONG KONG,  CHINA - Media OutReach - 23 May 2019 - Great for travel idea and trend, selecting local...

Queensland and Uber partner to launch scUber, the world's firs...

HERON ISLAND, Australia, May 23, 2019, /MedianetInternational-AsiaNet/- From 27 May – 18 June, riders can experience this incredible underwater world exclusively through the Uber app.-...

Toshiba Focuses on Power Devices as Eco-friendly Key to Low-Ca...

SINGAPORE, May 23, 2019 /PRNewswire-AsiaNet/ -- Semiconductors are everywhere, hidden within the electronic devices that support our everyday lives. Of particular interest, however, are powe...