ADM Capital’s Cibus Enterprise Fund invests in Adroit Worldwide Media
Summary
Technology has reached the point where supermarkets can retrofit their stores with cameras, smart shelves and sensors which provide sufficient data for more efficient shelf stacking, checkout-free shopping, optimising inventory levels and logistics which improve waste reduction. According to a recent report by Google Cloud, application areas for AI and Machine Learning in physical retail have the potential to drive between USD280-650 billion in value within three years.AWM, based in Aliso Viejo, California, provides a suite of products for retailers that includes AWM Frictionless, a check-out free technology that enables shoppers to walk into a store, remove products off the shelves and leave the store without any need to either scan purchases or go through a checkout line. With recent advancements in machine learning and computer vision, the retail sector is set to undergo monumental disruption. We are thrilled to partner with Kevin and his team at AWM who have developed a number of technologies that can be implemented in a wide range of store sizes and formats, from micro-markets to convenience stores and larger-format retailers.Kevin Howard, CEO of AWM, says: Food and fast-moving goods waste has always been top of mind for me. Our team of leading developers, engineers and data scientists have created solutions that yield higher returns and streamline communication, while reducing waste and helping retailers become more efficient.