Standard AI Acquires Skip to Bridge the Gap Between Self-Checkout and Autonomous Retail

Standard AI Acquires Skip to Bridge the Gap Between Self-Checkout and Autonomous Retail

In a groundbreaking move that is set to revolutionize the retail industry, Standard AI, the world leader in Retail AI, has announced its acquisition of Skip, a leading provider of self-checkout solutions. This strategic acquisition will bring together self-checkout technology and AI-powered autonomous checkout, creating an integrated experience that offers retailers a clear path to an autonomous future.

Labor pains have long plagued the retail industry, with hiring and retaining talent becoming an existential crisis that hampers growth and store performance. In response to this challenge, retailers have increasingly turned to self-checkout (SCO) as a strategy to alleviate labor challenges. Skip, a pioneer in self-checkout innovation, offers sleek and easy-to-install kiosks and mobile checkout solutions.

With this acquisition, Standard AI becomes the first company to connect self-checkout and autonomous retail, empowering retailers to offer innovative checkout experiences to their customers. By integrating Skip's cloud-based point-of-sale (POS) system with the complex back office ecosystem, operations can be streamlined, providing greater control over pricing, discounts, promotions, and more.

Jordan Fisher, CEO of Standard AI, expressed his excitement about the acquisition, stating, "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, giving retailers immediate relief from their labor challenges and a way to accelerate their path to an autonomous future."

One of the key advantages of Skip's self-checkout kiosks is their modularity and ease of installation. Compared to competitors, Skip offers robust functionality at a fraction of the cost, making it an attractive option for retailers. This cost-effectiveness, combined with the integration with Standard AI's technology, will pave the way for the future of autonomous checkout.

Standard AI plans to launch the world's first platform that connects self-checkout with autonomous retail later this year. This platform will provide retailers with unprecedented power and flexibility, enabling them to choose the path that best suits their needs.

For stores seeking a fast and inexpensive self-checkout solution, Standard AI will continue to offer Skip as a standalone option. This provides additional support and flexibility to in-store teams while addressing labor challenges. Alternatively, for stores looking to transform their retail experience and gain relief from labor challenges, Standard AI will offer the option of combining Skip's self-checkout kiosks with its Vision OS^ platform. This powerful combination allows retailers to provide both self-checkout and autonomous checkout experiences in one solution. It not only supports the entire shopper base and alleviates labor challenges but also unlocks a new level of analytics and insights without compromising on shrink or customer experience.

Kevin Struthers, Associate Director of Digital at W. Capra, shared his perspective on the acquisition, saying, "Standard AI's addition of Skip's self-checkout solutions creates a well-rounded suite of capabilities to address varying levels of retailer needs—from traditional SCO to fully-autonomous stores and hybrid stores in-between. Additionally, Skip's cloud-based point-of-sale system and back-office integrations will help streamline retailer implementations, especially for stores operating hybrid models that include a fixed register with self-checkout or autonomous capabilities."

The acquisition of Skip by Standard AI marks a significant milestone in the retail industry's evolution towards AI-powered autonomous retail experiences. By bridging the gap between self-checkout and autonomous retail, Standard AI is not only providing immediate relief to retailers facing labor challenges but also paving the way for the future of shopping.