Bingobox humanless supermarkets are here!
Chinese startup Bingobox operates humanless supermarkets, relying on artificial intelligence for almost their entire operation.
Would it be possible for 4 people to run 40 supermarkets?
According to Bingobox, a Chinese startup company that operates unmanned supermarkets, that’s the exact ratio that’s required. Bingobox has partnered with French supermarket giant Auchan, and through its franchise model, Bingobox plans to launch 5,000 stores by end 2017.
After a successful trial run, Bingobox opened its first store in Shanghai in June.
This is how it works:
1. Register yourself with Bingobox using WeChat, a popular mobile messaging app.
2. You will then be given access to the store by scanning your barcode at the door.
3. Each item you take is scanned and paid for through WeChat or Alipay, Alibaba’s payment app. Verification is done by on premise cameras.
4. Support is given via a video link, and the only time a human is needed physically at the store is for replenishment of stock, which takes 20 minutes a day.
If you think this sounds like someone’s fanciful dream then you should know that Bingobox has secured USD15 million in Series A funding with GGV Capital leading the round. And if you need even more proof, watch their corporate video:
Many tech startups in recent history have started off heavily reliant on Artificial Intelligence at the outset but as they expanded started relying on humans to ensure that their expansion plans go smoothly.
BingoBox setting the pace for artificial intelligence
Artificial intelligence is arguably at an inflexion point and that trend will likely be reversed if Bingobox CEO and Founder, Chen Zilin has his way. Bingobox has “built a team of artificial intelligence experts to research and develop technologies including product recognition and sorting algorithms. Currently, the technology has successfully recognized over 200 products…”. Bingobox is clearly a company on the move to decrease its reliance on the human workforce.
That’s a trend that I’ve noticed even in the last couple of years in my 20 year career as a corporate lawyer. Law firms were increasingly relying on artificial intelligence to increase efficiency and accuracy of tasks such as pre-merger or acquisition due diligence. Costs lowered, and accuracy increased is win-win for everyone except the lawyer doing the due diligence. And we see that trend everywhere.
How to take advantage of artificial intelligence
Honestly, as a lawyer, I saw the threat that artificial intelligence brought, but also the opportunity that it offered. Today, artificial intelligence is my friend, it provides me with reports of my business that I could only dream of getting without it, and those reports allow me and anyone who is willing to get educated, the ability to run a business profitably.
Many businesses are not profitable because of either an information or execution lag, and artificial intelligence closes that gap. I now work with people around the world showing them how they can run their own profitable online business.
If you’re ready to take advantage of the opportunity that artificial intelligence offers, submit your application to start working with me on our training program today.
All images captured from BingoBox’s Corporate Video
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