This is an artificial intelligence-propelled automated counter made by the startup Fainders.AI.

By Koh Hyunjeong
Photos = Fainders.AI

The domestic startup Fainders.AI has launched an automated counter propelled by artificial intelligence (AI). Customers simply place all the items they plan to purchase on the counter, and the camera will accurately recognize the products in a second or two.

This simple but revolutionary method allows payment just by inserting a card, with no need to scan each item's barcode.

 
Offering automated retail solutions based on vision AI technology such as this counter, the company in June was named by the Ministry of SMEs and Startups as the first "baby unicorn" of AI automated store solutions. A baby unicorn is a startup with high potential to become a global unicorn, or a company with a value of over USD 1 billion.

The precision of Fainders.AI's AI algorithm is 99%, as its payment accuracy is equal to that done by humans.

CEO Ham Myungwon said, "Our goal is to provide convenience to store customers and boost profitability for distribution companies and store owners through AI."

The counter debuted last month at the World Food Tech Expo held at COEX Mall in Seoul's Gangnam-gu District.

"We've received much interest from companies," Ham said. "We're discussing specific trial adoptions."

This is the AI-based automated store Super Swift near Gangnam Station in Seoul.

The AI automated store Super Swift near Gangnam Station in Seoul is state-of-the-art technology. Customers can enter the facility immediately after agreeing to provide personal information, as the store is vastly different from ones with automated kiosks.

Once a customer stands in front of the counter after selecting items to buy, a receipt appears right away. No time is needed to scan barcodes, saving time and preventing long lines.

Selected items are immediately input into a virtual shopping basket once a customer picks items from the shelves. The cameras on the ceiling and ultra-lightweight shelves analyze customer movement and the process of their item selection via a deep-learning algorithm. 

Ham highlighted his company's technical prowess, saying, "We can use inexpensive regular 2D surveillance cameras and still detect purchases with high accuracy through vision AI technology."

In August, the company launched a scaled-down version of its AI-based automated store installable within a week anywhere in a space of at least 16.5 square m. All of the components are modularized and can be flexibly adjusted to the space, much like assembling Lego blocks.

This is thanks to a microstore where the cameras and layout of product display stands are optimized by considering customer flow and standardized frame sizes to allow mass production. This leads to lower production costs and higher installation efficiency. 

Fainders.AI CEO Ham Myungwon on Nov. 18 talks about his company's plan to advance to distribution markets abroad.

"The distribution market is struggling due to rising labor costs, long lines and worker shortages, which cause headaches for each country and distributor," Ham said. "We will actively advance to markets abroad focused on Singapore and Japan."

Fainders.AI offers customized solutions to convenience stores, stadiums, colleges and in-house cafeterias, setting new standards in retail by listening to consumer groups. 

hjkoh@korea.kr