TEL AVIV, ISRAEL / ACCESSWIRE / September 12, 2024 / A2Z Cust2Mate Solutions Corp. ("A2Z" or the "Company") (NASDAQ:AZ)(FRA - WKN:A3CSQ), a global leader in innovative technology solutions, is pleased to announce that its subsidiary Cust2Mate Ltd., a leading provider of smart shopping cart solutions, has submitted a patent application for its Shopping Cart Inventory Change Indicator System, a solution designed to address inventory shrinkage issues in retail through the application of advanced technologies, powered sophisticated proprietary artificial intelligence (AI).
In 2023, U.S. retailers suffered an estimated $142 billion in losses due to inventory shrink, 25% more than in 2022, according to a WSJ report, citing figures from investment bank William Blair.
The core of the Shopping Cart Inventory Change Indicator System is its AI-driven anomaly detection module. This module employs deep learning algorithms to monitor and analyze shopper behavior in real-time, identifying patterns that may indicate theft or other irregular activities. Complementing this, the system includes a barcode scanner for item tracking, a computer vision system with high-resolution cameras for product recognition, and a security scale that measures item weight to detect discrepancies.
A key feature of the system is its advanced change detection solution using a camera system. The high-resolution cameras are strategically positioned to capture detailed images of items placed into or removed from the shopping cart. The computer vision system processes these images to detect any changes, ensuring accurate product recognition and real-time inventory updates. This precise monitoring capability enables the system to identify discrepancies and potential theft attempts, thereby significantly improving inventory accuracy and security.
Mr. Gadi Graus, CEO of A2Z, commented, "A2Z focuses on leveraging artificial intelligence to provide sophisticated solutions for retail challenges. The patent-pending Shopping Cart Inventory Change Indicator System exemplifies this approach, offering an advanced method for inventory management and theft mitigation. As the retail sector evolves, Cust2Mate is committed to developing technologies that enhance operational efficiency and security."
About A2Z Cust2Mate Solutions Corp.
A2Z Cust2Mate Solutions Corp. brings innovation, ease, excitement and value to retailers and shoppers. The Company is transforming brick-and-mortar retail with innovative smart shopping cart solutions that digitize the in-store shopping experience. The proven-in-use, friendly, sensor rich, AI driven carts enhance customer satisfaction and loyalty, minimize shrinkage, optimize retailers' operations and enable new business models. The smart carts streamline in-store shopping by enabling in-cart scanning and payment, allowing users to bypass checkout lines while alleviating labor shortages. Retailers can optimize merchandising, store layouts and promotions from data-driven insights, while shoppers get real-time information and personalized offers, turning a necessary chore into a fun and rewarding experience.
For more information on A2Z Cust2Mate Solutions Corp. (NASDAQ:AZ)($AZ)(FRA - WKN:A3CSQ) and its subsidiary, Cust2mate Ltd., please visit, please visit www.cust2mate.com.
Cautionary Statement Regarding Forward-looking Statements
Matters discussed in this press release may contain forward-looking statements that are subject to substantial risks and uncertainties. Forward-looking statements contained in this press release may be identified by the use of words such as "anticipate," "believe," "contemplate," "could," "estimate," "expect," "intend," "seek," "may," "might," "plan," "potential," "predict," "project," "target," "aim," "should," "will" "would," or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on the Company's current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict, including whether the referenced patent will be granted. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the Company's filings on EDGAR and with the SEC. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. Forward-looking statements contained in this announcement are made as of this date, and the Company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. This press release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities described herein.
Company Contact Information:
Gadi Graus, CEO
Gadi.g@a2zas.com
+972-73-3700544
Investor Contacts:
Brett Maas, Managing Principal, Hayden IR, LLC
brett@haydenir.com
(646) 536-7331
SOURCE: A2Z Cust2Mate Solutions Corp.
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