Fung and JD launch Hong Kong’s first AI checkout solution
JD has partnered with Fung Retailing Group to unveil Hong Kong’s first AI checkout solution in a retail store environment.
The AI-powered checkout technology is a result of a strategic deal between the firms signed last year. It represents the first AI checkout experience featuring image recognition technology in the territory. This technology is currently installed at the AI 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 checkout using the AI-powered solution in just four seconds with three simple steps, including placing the products on the counter, scanning, and paying via Octopus card.
The advanced AI algorithm enables the checkout counter to recognise up to five products within one second with an accuracy rate of more than 97 per cent, reducing the overall checkout time by 30 per cent.
“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,” said group MD Sabrina Fung.
“This underscores our ongoing commitment to experiment with new technologies like AI and to build partnerships like the one with JD to enhance the end-customer experience, further transforming the future of retail for Greater China.”
“AI will continue to play a critical role in transforming the retail landscape,” said JD VP Dr Bowen Zhou.
“Retailers who are able to capitalise on this trend, will have a competitive edge among their peers. Leveraging Fung Retailing’s offline retail expertise and JD’s leading retail technology, this pilot project represents a critical first step in collectively realising our vision for smarter and more convenient retail.”