|
Listen to this story
|
In a strategic announcement, Google Cloud collaborates with ParallelDots, one of the leaders in Retail Image Recognition solution, to deliver advanced, real-time AI solutions to global Consumer Packaged Goods (CPG) manufacturers and retailers. The goal is to employ the strengths of both the companies and unlock enhanced data accuracy and simplified AI training for CPGs. As a consequence of this, the in-store execution, customer satisfaction, and sales would increase.
AI in Retail
Google Cloud ensures end-users with reliable performance and security due to its secure infrastructure. This integration will allow customers to deploy ParallelDots’ solutions quickly and easily. Customers will be able to integrate ParallelDots’ shelf data within the Google Cloud platforms, eliminating the costly and complex task of manual integration.
This partnership helps combat losses related to the retail industry which is currently plummeting with a loss of 25% of sales annually due to poor in-store execution. Due to the limitations of manual store audits, there is also a dearth of real-time data, efficient audits, and timely reporting. In such a context, advanced AI & IR solutions are gaining significance as they address problems like missing SKUs and price labels or incorrect product placement.
Commenting on the partnership, Bikram Singh Bedi, Vice President and Country MD, Google Cloud India said, “Our aim is to offer our customers a secured infrastructure and capabilities to seamlessly perform complex tasks. With this collaboration we aim to empower ParallelDots to deliver unparalleled solutions to their customers. Our advanced cloud capabilities combined with their innovative technologies will simplify tasks, efficiently run complex problems and enhance cost efficiency.”
Ankit Singh, Co-founder & CTO, from ParallelDots is confident with this partnership, “This milestone marks a significant advance in delivering a world-class Retail Image Recognition solution to the global CPGs and retailers. Our partnership with Google Cloud enhances the reliability, security, and speed of our solutions, dramatically reducing deployment time, scaling our Image Recognition solution ShelfWatch, and boosting platform reliability and cost-effectiveness. This is a pivotal moment in our mission to create the world’s foremost retail shelf insights platform,” he said. Google Cloud’s strong presence in the retail space strengthens this collaboration in the marketplace. This joint solution stands as it allows end-customers to adopt ParallelDots’ technology, especially due to its platform security and robust infrastructure.
