London, United Kingdom
ThirdEye Labs, a United Kingdom-based company founded in 2016, offers transformative solutions in the retail sector through their pioneering computer vision technology. Acquired by Standard AI, the company upholds a compelling slogan: "Helping retailers save up to 7.5% of total revenues by predicting & stopping shoplifting, stockout and queues."
Utilizing existing CCTV infrastructure, ThirdEye offers an efficient and cost-effective approach—20x cheaper than traditional sensor-based systems—that minimizes the need for additional hardware. Their platform empowers store employees with real-time alerts via smart devices, tackling challenges like potential shoplifting, developing queues, and shelf stockouts, thereby optimizing store operations and customer interactions.
Last receiving a Grant investment from Innovate UK in June 2020, the company’s commitment to enhancing retail efficiency is matched by its adherence to customer data protection. Their seamless integration with existing systems diminishes the need for extensive retraining, providing valuable insights and cost savings for retail businesses.
