Alan O’Herlihy, Founder & CEO of Everseen, is an experienced builder and inventor who has worked in every facet of retail, each in physical and digital channels, through privately owned retail propositions and by leading quite a few SAP implementations.
Everseen is a technology company that focuses on Visual AI solutions designed to optimize and enhance retail operations. Their AI-powered applications work across your entire supply chain to cut back shrink, increase inventory accuracy, and solve complex retail problems. Everseen’s solutions are deployed throughout various retail environments, including the front of the shop, back of the shop, and shop floor. These tools help retailers break cyclical patterns, improve gross margins, correct flawed processes, and amplify awareness of key operational moments, ultimately improving financial and operational outcomes.
Are you able to tell us more concerning the founding of Everseen and what motivated you to concentrate on combating retail shrinkage with AI?
I actually have a passion for retail, technology, and problem-solving— all of which helped me to create Everseen. As a young child, I grew up working with my parents who ran a small mom-and-pop grocery shop in County Cork Ireland.
I went on to develop into a software engineer and have become certified as an SAP business consultant where I learned how one can transform critical business processes via technology. During this time, I felt there was a greater technique to manage business processes for retailers relatively than simply counting on out-of-date data stored in a database, this led to the creation of Everseen.
We at the moment are working with ten of the world’s top 20 retailers to deal with the retail industry’s widespread issue of shrink, which represents greater than $112 billion in annual losses.
How does Everseen’s computer vision AI technology work to detect and stop shrinkage in retail environments?
We use a mixture of computer vision and artificial intelligence to remodel retail operations.
Our Evercheck product utilizes vision AI to detect issues at self-checkouts and staffed lanes– identifying anomalies comparable to unscanned items and product switching. The system then prompts the client to rescan an item, or alert a store associate to offer assistance.
We also reduce loss and improve processes within the stockroom– analyzing deliveries, identifying compliance issues, and reducing shrink at delivery doors, in addition to the shopfloor – analyzing excessive item removal, and on-hand availability status on the shelves.
These applications are operating on our vision AI platform, managing 140,000 Edge AI endpoints and processing over 300 years of video . That scale and our proprietary visual AI enable us to deliver highly effective solutions.
Everseen is working with over half of the world’s top 20 retailers. Are you able to share some success stories or case studies where your technology has significantly reduced shrinkage?
We’re proud to support major retail brands comparable to Meijer, Kroger, and Woolworths. We’re currently deployed in over 8,000 retail stores and greater than 140,000 checkouts. Our solutions have been shown to enhance retailers’ margins by as much as 20 percent through a mixture of reduced shrinkage and improved operations.
One major U.S. grocer who has broadly implemented self-checkout relies on Everseen to make that checkout experience successful. Our solution is installed at greater than a thousand of their stores. When the system flags an error, their customers have been in a position to resolve the scanning issue themselves greater than 75 percent of the time.
What are the important thing challenges you faced while developing and implementing your AI solutions, and the way did you overcome them?
The most important challenge within the AI industry itself is value assurance. While many within the industry are enthusiastic about its potential, most struggle to operationalize it in a way that delivers real impact.
That is the challenge we’ve focused on solving. We’ve designed our platform with value assurance at its core, and the dimensions we’ve achieved with global retailers has enabled us to operationalize AI and drive significant, measurable business value– dare I say, something yet to be achieved by every other AI application.
One other challenge for us is that Everseen isn’t yet well known. But that’s beginning to shift. Customers are sharing their experiences with their peers, and we’re starting to achieve recognition for having established the most important global footprint of edge AI endpoints in retail. Once we connect with customers, it quickly becomes a C-suite conversation because our solutions are positively affecting EBITDA and the underside line.
You personally consider within the importance of an open-minded society that understands AI. How do you’re thinking that public perception of AI could be improved, and what role does Everseen play on this?
Government and industry collaboration is crucial for fostering public trust in AI. Because of the efforts of federal agencies worldwide, organizations now have guidelines for responsible AI development which also allows room for creativity and innovation.
During our time working with a few of the world’s largest global retailers, we’ve seen firsthand that AI is greatly helpful to each the patron and the corporate when used properly. Within the retail AI sector, one in all our top concerns is ensuring respect for individual shoppers while also addressing the business needs of shops. Meaning applying ethical AI standards in an intensive and thoughtful way.
At Everseen, we ensure AI governance is on the core of every thing we do. We’re fully accountable and transparent about what our AI is doing and why. We’ve got an important team of AI PhDs who’re very passionate and committed to this a part of the mission— something I’m particularly pleased with.
In what ways do you see AI transforming the retail industry beyond shrinkage prevention?
Computer vision AI is a useful asset, not only in mitigating losses but additionally in transforming your entire retail operation—from the stockroom to the shelf and checkout.
There’s numerous initial effort required to get AI up and running and train it. Now that we’ve done that around shrink, now we have a strong infrastructure in place and more value could be built on top of that. We are able to start to deal with other issues like product availability, waste management, and shopper personalization. Having an AI platform will allow businesses to integrate customized vision AI solutions that drive ROI and positive customer interactions.
How do you balance the mixing of AI technology with maintaining a human touch in retail operations?
Our solutions all the time keep people in mind, from the consumer to store associates to the seller. In a recent customer conversation, we discussed the importance of finding the proper balance of technology– it’s there to reinforce the experience and add business value, nevertheless it’s also essential to keep up the straightforward joys of shopping, like seeing the beautiful apples and oranges, and interacting with people.
In retail, there may be all the time a possibility for human engagement. Our customers integrate AI into their operations in a way that augments staff roles relatively than replaces them. For instance, Everseen systems prompt store associates on when to help and interact with customers, and AI-enabled self-checkout lanes can even release store associates to interact with shoppers throughout the shop.
What advice would you give to other startups trying to implement AI solutions of their industries?
Give attention to measurable ROI. There may be a ton of pleasure concerning the potential of AI solutions, but organizations are in search of gains from their investments. Startups have to begin with an information set that proves that there’s a problem to be solved, then develop an answer and prove the impact.
We’ve been in a position to do this within the retail sector with our computer vision AI which has been shown to enhance retailers’ margins by as much as 20 percent through a mixture of reduced shrinkage and improved operations.
How do you envision the longer term of AI in retail and other sectors over the subsequent decade?
For the time being, it’s very siloed and everyone seems to be constructing point solutions. I envision AI having an expanded impact in the longer term when there may be more of a platform approach. Our vision AI platform is taking a step towards this future by ensuring access to large amounts of high-quality data, adhering to responsible AI practices, and delivering value assurance.
One other key a part of planning for the longer term of AI is maintaining a gentle concentrate on AI governance. This includes ethical considerations, transparency, and regulatory compliance to keep up trust and integrity in AI applications.
What steps does Everseen take to repeatedly innovate and stay ahead within the competitive AI market?
An progressive spirit is an element of our company DNA, and we foster that in several ways. A very powerful way is by actively listening. We stay closely connected with AI trends and innovations, in addition to being keenly attuned to our customers. We’ve got a team that is devoted to looking on the horizon. They’re listening, observing, and workshopping ideas on what the longer term might appear like. Our innovation can be supported by close ties to academia and the varied perspectives of our inventors, researchers, and experts from different parts of the world.
