In Part 1 of this FaceID article series, we explored retail applications in USA / UK and were introduced to the face as the next computer cookie. Part 2 introduces us to GAFAM and face recognition in the security and health care industry sectors.
Security has been a primary market for face recognition for some time. Threats of terrorism and violent crime have accelerated its adoption by governments and law enforcement worldwide.
With a 25% CAGR, the security sector is leading facial recognition deployments worldwide.
From London, Tokyo, Helsinki, Rome and now to Atlanta in USA, airports worldwide are adopting FaceID solutions. Delta Airlines will soon roll out ' curb to gate' facial recognition for travelers departing out of the International Terminal F in Atlanta, the first biometric terminal in the United States. Smile for the camera at self-service check-in including baggage, through security checkpoints, and boarding your flight. Using the technology is optional and will save travelers up to nine minutes per flight.
In January 2018, in a D&D Daily "Live from NY" interview, we debated the impact of iPhoneX on FaceID technologies. This new Apple iPhoneX had just placed the disruptive future of facial recognition technology in our pockets.
Less than a year later, it is surprising to observe the continued advanced deployments of FaceID solutions, especially outside the United States. For 2018, the global facial recognition market is valued at $3.97 billion and is estimated to reach $10.15 billion by 2025 at a CAGR of 14.35% during the forecast period.
Very interesting is the mix of the major organizations investing in face recognition. Out of the top 10, eight are academic entities with most based in China. The only USA university that makes the top 10 is Carnegie Mellon. Microsoft leads the top 10 followed by Samsung which already has 186 patents in facial recognition.
Over the next several weeks, in four parts, we will delve into the latest adoption trends of facial recognition. This first post will explore selected USA / UK retail developments and introduce FaceID as your computer cookie.
Retail inspiration can be found in every corner of the world and for this blog post we visit Switzerland. FREITAG is the quiet Zurich based fashion accessory brand selling over 300,000 of its unique products across the globe every year.
"In 1993 graphic designers Markus and Daniel Freitag were looking for a functional, water-repellent and robust bag to hold their creative work. Inspired by the multicolored heavy traffic that rumbled through the Zurich transit intersection in front of their flat, they developed a messenger bag from used truck tarpaulins, discarded bicycle inner tubes and recycled car seat belts.” Their first core product became a designer bag with a conscience.
The Internet, mobile and social media have forever transformed the distribution of viral messaging. No longer the best kept secret, at the center of successful communication is the medium of video.
82% of Twitter users watch video content on Twitter. More than 500 million hours of videos are watched on YouTube each day. Ten million videos are watched on Snapchat per day. Over 500 million (half a BILLION) people are watching video on Facebook every day. The Top 10 YouTube stars of 2017 generated over $110 million in personal pre-tax income. Every second, a million minutes (17,000 hours) of video content will cross global IP networks by 2021.
Having a passion for powerful visual communications, weekly through my personal website I share one to three new videos. As we enter the fourth quarter, it is time to showcase my 2018 top five amazing innovation leadership videos.
Frictionless secure commerce coupled with immersive customer experiences have been on my mind for some time. Engaging with an in-store geolocation security company and new updated data on internet connectivity, growth of smartphones, and the Internet of Things (IoT) inspired this post.
Future consumer in-store interactions will include autonomous digital conversations with physical products. As discussed in a previous post, increased digital interactions will create brand ambassadors of both consumers and store associates.
For those individuals focused on securing commerce, that same digital exchange will lead to innovative applications such as geolocation solutions that will dramatically reduce retail crime. As an example, the geolocation security company mentioned above has so far in 2018 taken nearly 600 criminals off USA streets and led to the recovery of over $5 million of in-store physical assets.
Several weeks ago I had the pleasure of being the moderator and Master of Ceremonies for a Tyco Retail Performance Council in Silicon Valley, California. Seven loss prevention retail executives representing roughly $600 billion in industry revenue joined the Tyco Retail Senior Leadership Team in a two day innovation deep dive.
Day one consisted of hands-on immersion into innovation, technology trends, new ideas and solutions through the eyes of venture capitalists, futurists, start-up companies, academia, and industry experts. First stop of the innovation tour was the offices of Andreessen Horowitz (known as "a16z"). To date, a16z has raised $7.1B, across seven funds.
Opening the a16z session was futurist Benedict Evans who spoke to "the state of tech today and what's likely to happen in the next decade: mobile, Google / Apple / Facebook / Amazon (GAFA), innovation, machine learning, autonomous cars, mixed reality and crypto-currencies."
Check out this variation of Benedict's presentation "10 Year Futures (vs. What's Happening Now).
Welcome to Dubai or as CBRE calls it, the key stepping stone for international brands entering the Middle East. Over the next three years, more than 1.5 million square meters of new retail space could be delivered to the Dubai market, adding roughly 50% to existing inventory.
Being on the Board of Advisors for the upcoming Dubai Smart Stores Expo and having personally experienced the vibrancy of Middle East on multiple occasions, it is time to revisit this region and explore its global retail possibilities.
Retail is not dying. Today's consumers are being presented by an increasing number of shopping options. Online versus in-store engagement trends are converging and technology is increasingly the differentiating element.
A recent IHL research study titled "Out-of-Stock, Out of Luck - How Retailers Alienate Customers and Lose Billions Due to Poor Inventory Practices" prompted this relook at retail RFID. The top answers as to why consumers still prefer to shop in-stores include: want / need the product immediately, desire to touch and feel the item (try it on), don't want to pay expedited delivery charges, support local retailers, and convenience / easier than online.
Fast checkouts and products being in-stock are the two most relevant components of positive instore experiences.
Being a firm believer that branding is a critical component to the future success of all companies, every year I look forward to the latest edition of the BrandZ Top 100 global brands report. Disruption, disintermediation, and differentiation are the three words that stood out in the nearly 300-page 2018 edition.
With an increase of 21% in 2018, the BrandZ global top 100 brands added a record $748 billion, to reach $4.4 trillion in total value, an increase of $2.9 trillion since 2006. 2018 set a record as the largest one-year value increase in the 12 years publishing the global report.
Every industry category had an increase with retail rising the most and for the second consecutive year in a row. The brand value of the retail sector rose 34% as e-commerce brands spiked in value and the category adjusted to disruption.
With the USA NRF Loss Prevention Trade Event taking place this week, it is time to revisit the new Sensormatic Global Retail Shrink Index published earlier this year. Covering 14 countries representing 73% of global GDP and 80% of global retail sales, it is the authoritative document on worldwide loss prevention trends.
In 2017-2018, the cost of retail shrinkage was $99.56 billion for the countries surveyed. This post focuses on my two favorite charts from the entire study.