Standard AI, a world leader in retail AI, announced the signing of a definitive agreement to acquire leading self-checkout solutions provider, Skip. The new offering will connect self-checkout with AI-powered autonomous checkout into one integrated experience.
Standard AI will also integrate Skip’s cloud-based point of sale (POS) with the complex back-office ecosystem to streamline operations and give greater control over price, discounts, promotions and more. Skip is a leading self-checkout innovator that offers sleek, easy-to-install kiosks and mobile checkout solutions.
Retailers are using Standard Checkout, part of the Vision OS platform, to transform existing stores into checkout-free retail experiences. It offers fast, accurate time-to-receipt and insights about store operations – all from one platform.
“Autonomous retail has seen exponential growth, and in the next five years we’ll see thousands of AI-powered stores across the world,” Jordan Fisher, CEO of Standard AI, said in the announcement. “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 labor challenges and a way to accelerate their path to an autonomous future.”
Chase Thomason, founder and CEO, Skip, added in the announcement: “Skip has differentiated itself in a crowded field of self-checkout solutions. In addition to being modular and easy to install, it delivers all the functionality required by retailers at a fraction of the cost of its competitors. 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.”
Later this year, Standard AI plans to bring to market the world’s first platform that connects self-checkout with autonomous retail. Standard AI will continue to sell Skip standalone or together with its Vision OS offering (upon close of the acquisition).
"Standard AI's addition of Skip’s self-checkout solutions creates a well-rounded suite of capabilities to address varying levels of retailer needs – from traditional SCO to fully-autonomous stores and hybrid stores in-between," Kevin Struthers, associate director of digital at W. Capra, added in the announcement. "Additionally, Skip’s cloud-based point-of-sale system and back-office integrations will help streamline retailer implementations, especially for stores operating hybrid models that include a fixed register with self-checkout or autonomous capabilities."