Here is Part 2 of our ongoing series on ? 10 Great Business Ideas For 2014?. For those who missed Part 1 where we featured ?The H?vdinghelmet?, you can read about it at : https://www.thebitbag.com/2014/01/04/10-great-business-ideas-2014-part-1-hvdinghelmet/
For today’s business inspiration, we go to Finland, where a system has been built and launched where people can actually pay with their faces. Uniqul, a technology company based in Finland, has introduced a way where web and digital technology can be applied to brick and mortar establishments.
It has long been assumed that online selling and shopping hold an exclusive advantage on ?ease of payment? because of the way it utilizes the internet and digital platforms to streamline selling and purchasing ( thinking of Ebay and Amazon right now….).
Uniqul has created a system where physical checkout counters can recognize the face of a shopper and instantly translates this facial recognition to payment data stored in its database. In short, your ?profile? is enough for you to pay for your purchases and eliminates the need for cards, PINs and signatures.
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Video: Uniqul ? Machine Inspired by Magic (Uniqul / YouTube)
Testing on the system has indicated, that it not only offered a more personalized experience to the shoppers but it has been able to reduce the checkout time to a mere 5 seconds (that’s fast!). Uniqul also claims that the possibilities for data collection and management is huge with the application of facial recognition , although they are dispelling any concerns on privacy issues (now picturing the science -fiction movie ?Minority Report?).
The system is now being prepared for commercial use and will soon be launched in Helsinki.
Uniqul is not the only company in the world who is taking advantage of facial recognition technology as a tool for retail marketing. OptimEyes, a company in the United Kingdom has created digital advertising ?media screens? (think posters or small billboards) that collects demographic data through facial recognition on shoppers who notice the ?posters?.
In Russia, a company called Synqera detects the moods of shoppers through facial recognition and uses it to offer discounts to the customer depending on the mood detected.
So the next time you shop and pay, don’t forget to smile.
Watch out for more great ideas such as these…. ?a shopping cart aid that provides recipes, 3D printing for the visually challenged, a real time language translator, ?and many more…..here at The Bitbag:?
Photo Sources: http://www.hovding.com/en/ ; http://uniqul.com/ ; www.hellmans.com ; http://sawareru.jp/en/ ; www.busysigmo.com ; www.digitalstrom.com ; www.kickstarter.com/plugaway ; www.snuh.org ; www.yrsto.re ; www.wibbitz.com ; www.almapbbdo.com.br