Standard AI Acquires U.K. Computer Vision Software Firm
The checkout-less tech company also hired its first-ever vice president of machine learning.
Nov 11, 2021 | 2 min read
SAN FRANCISCO—Standard AI announced it has acquired U.K.-based computer vision company ThirdEye Labs. The checkout-free technology company also welcomed Sameer Qureshi as its first-ever vice president of machine learning. Qureshi joins Standard AI from Tesla and Lyft.
ThirdEye Labs is a London-based, award-winning technology firm founded in 2016 by Raz Ghafoor and Peter Rennert with the goal of using computer vision to help retailers fight lines and retail loss and to improve operations. The company’s innovative machine learning algorithms focus on specific human movements and are similar to those used by autonomous vehicles to identify and predict pedestrian behavior.
“Computer vision has rapidly become one of the most valuable ways for brick-and-mortar retailers to keep up with the data-driven flexibility of e-commerce,” said Jordan Fisher, CEO of Standard AI. "Raz and the ThirdEye product and engineering team have been engaged in cutting-edge work, and they will be invaluable to our team as we expand the capabilities of our platform deeper into retail."
Standard AI’s computer vision software allows customers to pick up items and leave the store, eliminating the checkout line.
“Checkout is kind of the killer app, but that’s just the tip of the iceberg,” Fisher told the New York Times. Standard AI hones camera accuracy in high-volume, high-density environments. “You have a system that understands where people are in real time, down to the centimeter. It’s all about utilization of real estate.”
Meanwhile, Qureshi will head up the artificial intelligence and machine learning teams, working closely with the Standard engineering and product teams to both refine the Standard autonomous checkout platform and bring new products to market.
"Some of the most transformative work in machine learning and computer vision is happening in retail," said Qureshi said. "I was drawn to Standard AI for its mission to use computer vision to transform the way we shop and better the way we live. I’m excited to lead a world-class machine learning team to expand the capabilities of the Standard platform in new ways."
