How Data Is Reshaping Real Estate
November 9, 2021 | Patrick Sisson | The NY Times
Jordan Fisher was troubled. Every variety of the Red Bull energy drink comes in a similar metallic can, and his company’s camera system, which tracks products that customers pick up in stores, was having trouble distinguishing them.
This obstacle was one of many that his company, Standard AI, faced while retrofitting a Circle K convenience store in Tempe, Ariz., with computer vision software, which tracks every item customers pick up so they can simply scan their app-enabled phone to pay as they leave, eliminating the checkout line. A network of more than 100 cameras can identify any of the thousands of similarly sized candy bars or beverages grabbed by customers, including cans of Red Bull, now identifiable thanks to a combination of geometric projections and higher-resolution cameras.
This tracking of consumer activity within the store — where shoppers look and linger, with cameras capturing their interactions and their near-misses — is part of a growing effort to use data collection to make commercial real estate more efficient.
“Checkout is kind of the killer app, but that’s just the tip of the iceberg,” said Mr. Fisher, the chief executive of Standard AI, which hones camera accuracy in high-volume, high-density environments. “You have a system that understands where people are in real time, down to the centimeter. It’s all about utilization of real estate.”
