US-based retail technology company Standard AI has agreed to acquire self-checkout solution provider Skip for an undisclosed sum.
Skip claims to be a leading self-checkout (SCO) innovator, offering ‘sleek’ and ‘easy-to-install’ kiosks and mobile checkout solutions.
Standard AI said that following the deal, it will be the first company to connect self-checkout systems with autonomous checkouts powered by artificial intelligence (AI) in one integrated experience.
This will allow retailers to offer checkout experiences and give shoppers access to autonomous retail experiences through self-checkout kiosks.
In addition, Standard AI will integrate Skip’s Cloud-based point of sale with its back office ecosystem.
This is intended to streamline operations and give retailers control over prices, discounts, promotions and other variables.
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Standard AI CEO Jordan Fisher said: “Autonomous retail has seen exponential growth, and in the next five years we’ll see thousands of AI-powered stores across the world.
“Through this acquisition, we will create a unique offering that combines the self-checkout experience with autonomous retail for the first time ever to give retailers immediate relief from their labour challenges and a way to accelerate their path to an autonomous future.”
Skip founder and CEO Chase Thomason said: “Skip has differentiated itself in a crowded field of self-checkout solutions.
“By integrating with Standard AI, we are now taking our kiosks to the next level and working on solutions that will go beyond them as we create the future of autonomous checkout.”
Retailers use Standard Checkout to upgrade existing stores into checkout-free retail experiences.
Later this year, Standard AI will launch what it claims to be the first platform to connect self-checkout with autonomous retail.
The company will continue to sell Skip as a standalone to stores that choose ‘quick and inexpensive’ self-checkout units.
It will also offer the Skip kiosk together with its Vision OS^ platform.