Remark Holdings: Empowering Offline Retailers in a Digital Era

Kai-Shing Tao, Chairman and CEO
Accessibility, convenience, personalized advertising, and payment gateways have all played to the strengths of online retail, placing it a step ahead of its offline counterpart. But offline retail offers a physical point of contact for customers, which often creates a bond between the brand and the customer. In light of the ongoing shift from brick-and-mortar stores to online platforms, offline retailers are realizing the need to up their game to stay competitive with a growing online market. This is where companies like Remark Holdings tip the scales in favor of offline retailers. With its comprehensive AI-powered retail platform, Remark Holdings has been delivering deep insights into consumer behavior, allowing offline retailers to create better shopping experiences at lower costs and with high conversion rates.

From what was established as a data aggregation platform in 2007, Remark Holdings has grown significantly to a company that focuses on harnessing the power of AI through practical and accessible solutions that solve problems, reduce risk, and deliver positive outcomes across multiple industries. One of the most important benefits of the Remark AI platform is intelligent inventory management. Offline retailers need to let go of their traditional strategies for managing inventory and evolve with the changing times. As restocking shelves is one of the biggest opportunity costs in the offline retail industry, Remark Holdings provides a top-notch solution for the same. Remark AI’s computer vision technology facilitates restocking without the use of sensors. With efficient inventory tracking and management, retailers can use physical storage spaces and transportation resources more efficiently. It can also help identify trends in customer desires and popular products, and proactively aid in meeting stock requirements. “We offer a platform, not a point solution. Our AI is easily scalable across industries and configurable across different systems. In comparison to other AI solutions, we spare our clients the need to source and adapt to multiple AI providers,” explains Kai-Shing Tao, Chairman and CEO of Remark Holdings.

Remark AI gives retailers an edge by providing real-time customer analytics from the moment the customer enters the store till the final purchase and every activity in between. The company utilizes high-tech cameras and visual sensors placed throughout the store to intelligently analyze customer shopping behavior such as time of store entry, browsing habits, and walking pattern. With the help of computer-vision-driven facial recognition technology, Remark AI can identify VIPs/blacklists and pull out their purchase history/number of visits.

With the Remark AI platform at their disposal, retailers can leverage robust analytics to make intelligent decisions about store layout, item placement, and promotions while keeping the customer's identity anonymous. The AI solution delivers higher sales and improved efficiency for retailers while also enabling them to provide an improved and personalized service to their customers. Remark’s KanKan AI business in China has experienced great success in its partnerships with China Mobile, the Bank of China, the Construction Bank of China, and CP Group's Lotus Supermarket. "The KanKan AI business recently launched its edge computing systems, the S and T Series Smart Boxes. The AI-based edge computing boxes come equipped with NVIDIA's new generation of high-performance edge computing modules, with a smaller size and lower power requirements," added Tao. The KanKan Smart Box S Series can process as many as eight video streams simultaneously, thereby transforming ordinary cameras into smart cameras in one touch.


Our AI is easily scalable across industries and configurable across different systems. In comparison to other AI solutions, we spare our clients the need to source and adapt to multiple AI providers

With years of R&D behind its AI platform, Remark Holdings was able to capitalize on the opportunity presented by the COVID-19 pandemic and deliver a range of thermal scanning products that can mitigate the risk of spreading any contagious illness, improve the safety of staff, cut down operational costs of staff members individually conducting temperature checks, and provide real-time alerts on display that can be shared with respective authorities. In a pre-COVID-19 economy, sensitive retailers had already identified the need for digital transformation. The pandemic has further emphasized the need for this transformation in the retail landscape. With the Remark AI platform, retailers can survive not just the challenging market conditions caused by the pandemic but also thrive in a post-COVID-19 world. In addition to video tracking and thermal imaging, Remark Holdings has also made new progress in facial analysis. In response to the current situation where people generally wear masks, mask wearing detection, face recognition under masks, and attribute analysis models have been developed.

Remark's AI-powered Bio-Safety Thermal Kit is an all-inclusive solution that allows for fast, touch-free scanning of multiple persons (as many as 120 people per minute) as they enter through established access points. The system instantly and quietly alerts staff of any person with a skin temperature that suggests a higher-than-normal temperature, allowing site personnel to conduct a secondary temperature check. Remark's rPad provides the thermal-detection functionality on a person-by-person basis, and it can be utilized for access control at individual access points as well as to detect the body temperatures of employees or customers, all while integrating directly with a customer's database.

In August 2020, Remark Holdings’ R&D engineering team won three out of five Championships in the Visual Object Tracking category at the 16th European Conference on Computer Vision (ECCV 2020), surpassing 62 other teams from around the world. The ECCV 2020 is one of the top Artificial Intelligence academic conferences in the image analysis area. Remark Holdings has also obtained GDPR certification for its line of AI and thermal-detection products, which has opened up avenues to expand into European markets and the opportunity for additional distribution partnerships.

Recently, Remark Holdings has partnered with world-class companies such as Scientific Games Corporation to install its in-house developed AI-empowered rPads at its locations throughout North America, Europe, Asia, South America, Australia, and the Middle East. As we head into a highly competitive future for the retail industry, Remark Holdings continues to deliver AI solutions that improve business efficiency. "With our real time analytics, we even out the odds in the constant tussle between online and offline retailers. Our AI platform provides an end-to-end solution across a number of different industries. We have been in business for several years and proved our effectiveness with our partnership with some of the world's largest companies.," concludes Tao.

Company
Remark Holdings

Headquarters
Las Vegas, NV

Management
Kai-Shing Tao, Chairman and CEO

Description
Remark Holdings delivers deep insights into consumer behavior, allowing offline retailers to create better shopping experiences at lower costs and with high conversion rates. The company focuses on harnessing the power of AI through practical and accessible solutions that solve problems, reduce risk, and deliver positive outcomes across multiple industries. Remark AI gives retailers an edge by providing real-time customer analytics from the moment the customer enters the store till the final purchase and every activity in between. The company utilizes high-tech cameras and visual sensors placed throughout the store to intelligently analyze customer shopping behavior such as time of store entry, browsing habits, and walking pattern

Remark Holdings