The second edition of Converge @ Walmart 2022 – widely recognized as the biggest retail technology event of the year – brought together global and local leaders at the intersection of retail and technology. Organized around the central theme of “reinventing retail technology”, the powerful and insightful sessions decoded cutting-edge innovations that promise to change the retail landscape.
One of the highlights of the event was the Indian Innovators Showcase, which featured a curated list of startups. Here are some key insights from the founders who showcased their innovations at the event.
Unit-level product tracking in a multi-party environment with blockchain
StaTwig is a blockchain-powered supply chain management platform that tracks unit-level products in a multi-party environment.
“Using the StaTwig solution, our customers, including the government of Telangana, have seen up to a 23% reduction in supply chain failures or product losses in the first year of deployment. In scale-up mode, these failures can be reduced by up to 67%,” said Sid ChakravarthyFounder and CEO, StaTwig.
One of its platforms, VaccineLedger, leverages blockchain technology and connected sensors to provide real-time, tamper-proof, end-to-end tracking of the entire vaccine lifecycle, from manufacturers to recipients.
An engine for virtual worlds enabled by extended reality
“India is well positioned to enter the metaverse in the biggest and most impactful way, and it will be through technology, creativity, culture and commerce,” said Farheen AhmadCEO and Co-Founder, Interality.
Interalityis an engine for XR-enabled virtual worlds that allows users to create and monetize content, products, and experiences in the metaverse.
Virtual worlds built by Interality allow users to choose from a range of activities, including engaging with Web3 communities, opting for play-to-earn (P2E) games, or attending immersive live concerts and performances . The startup offers a host of tools and technologies that facilitate the global economy through the monetization of experiences, AR/VR content and digital assets.
Virtual avatars with empathetic AI to improve customer experience
“Artificial intelligence and machine learning are fields that will permeate society in many dimensions. Among the various problems in these fields, human-machine voice communication is one of the oldest and remains one of the harder to solve,” said Ananthakrishnan Gopalco-founder and CTO, DaveAI.
Dave AI, offers the solution by leveraging patent-pending empathetic artificial intelligence technology to create interactive digital personas for brands. Avatars can initiate conversations with customers in natural language, understand their preferences, and even make personalized recommendations through both speech and text.
Built with empathetic artificial intelligence technology, the startup collects both product data and customer interaction data which it then uses to create an affinity graph – inspiring the customer to take the right action that benefits both itself and the brand. The platform, powered by e-learning genetic algorithms while being industry-neutral, allows for the creation of a company-specific affinity graph once deployed.
AI-powered visual retail intelligence for massive sales growth
Despite phenomenal sales growth, frequent stock-outs at store level, supply chain strains and rising customer expectations are making headlines globally. This forces every customer-packaged goods (CPG) manager to think long and hard about how to keep their store shelves optimally stocked, drive store sales, and preserve market share.
“Infiltration Technologies challenges the philosophy of manual intervention by redefining merchandising audits and collecting retail insights,” said Vijay Gabaleco-founder and CTO, Infilet Technologies.
“By combining artificial intelligence with computer vision technology, Infilect enables retail brands to gather more granular details about their in-store execution, track product availability on the shelf, monitor store compliance and ‘help optimize their real-time business marketing payouts,’ he added.
Access the Converge @ Walmart 2022 Archive
Missed your Converge @ Walmart 2022 registration? You can still view India Innovators Showcase and other archived sessions from the event