Coimbatore (Tamil Nadu) [India], July 1 (ANI/BusinessWire India): Innovative technology firm Digit7 unveiled three cutting-edge products during the inauguration ceremony of its innovation lab at Coimbatore. The products are built to offer advanced digital experiences in artificial intelligence (AI), machine learning (ML), Drone Robotics, IoT and 5G.
Chithrai Mani, the CEO of Digit7, along with InfoVision Co-founder and President, Sean Yalamanchi, Former VC Anna University and Member UPSC, Prof Dr E. Balagurusamy, and Principal of Sri Ramachandra College, Dr Sivakumar, inaugurated the innovation lab and launched the new products. Digit7 also held an exclusive preview of these products - D-Grab, TagSquare and GlideRobo - during the launch.
Currently, the grab-and-go segment is 5 per cent of the self-checkout market but is expected to grow at a staggering 37 per cent, according to industry reports. Similarly, data annotation is expected to grow 27 per cent to become a $7 billion market by 2028.
"We are relentlessly developing products to empower our customers with digital. We have entered the smart retail market space with our new offerings at the right time. While the technology is still nascent, it is certainly poised to disrupt the retail industry. Entering the market at this opportune time will give us a good head start to create a positive impact. I'm therefore excited to present our new suite of products," said Mani.
- D-Grab: D-Grab is an AI/ML-powered cashier-less smart store for a simplified shopping experience. It uses a combination of sensors and cameras on its IoT edge to track the customer and the products they pick up.
- TagSquare: AI-powered TagSquare is used for object recognition, behaviour analysis, and facial recognition. The product enables easy and efficient data labelling.
- GlideRobo: Smart drones, primarily based on LiDAR technology are designed for surveillance, deployment and delivering actionable insights. The drones are programmed to fly without GPS and improve inventory data quality, enhance traceability operations, and save time.
"Retailers are just scratching the surface of using invisible data streams and AI to create multilayered, digital experiences," said Leslie Hand, GVP, IDC Retail Insights. "For most retailers, the reality of digital environments is not the metaverse--yet! Right now, it's the footing underneath the intelligent store--the infrastructure, connectivity, analytics, and devices that enable digital twins, smart shelves, customer, and employee interaction, and efficient omnichannel transactions."
"We envisage the future of retail through our products by helping our retail customers optimize operations and enhance customer experience. As the industry is set to witness rising demand for cashier-less stores and data annotations, retailers are looking to partner with the right technology vendors. With this launch, we not only expect to deliver targeted outcomes but also set," said Sean Yalamanchi, Co-Founder of Digit7.
This story is provided by BusinessWire India. ANI will not be responsible in any way for the content of this article. (ANI/BusinessWire India)