Standard AI acquires Skip to boost autonomous retail
New offering will combine self-checkout with autonomous retail to help retailers tackle labour shortages.
Standard AI has acquired self-checkout solutions provider Skip. Standard AI will be able to connect self-checkout with AI-powered autonomous checkout into one integrated experience.
The combination looks to offer retailers a self-checkout option with a path to an autonomous future. Standard AI will integrate Skip’s cloud-based point of sale (POS) with the complex back office ecosystem to streamline operations.
“Autonomous retail has seen exponential growth, and in the next five years we’ll see thousands of AI-powered stores across the world. Through this acquisition, we will create a unique offering that combines the self-checkout experience with autonomous retail for the first time ever to give retailers immediate relief from their labor challenges and a way to accelerate their path to an autonomous future,” said Jordan Fisher, CEO of Standard AI.
Hiring and retaining talent is an existential crisis for retail, one that threatens to limit growth and store performance. This has fueled a renewed energy for self-checkout as a strategy for retailers seeking to solve labour challenges.
“By integrating with Standard AI, we are now taking our kiosks to the next level and working on solutions that will go beyond them as we create the future of autonomous checkout,” said Chase Thomason, founder and CEO, Skip.
