Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

NVIDIA CORPORATION

(NVDA)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

AI on the Aisles: Startup's Jetson-powered Inventory Management Boosts Revenue

12/28/2020 | 02:45pm EDT

Penn State University pals Brad Bogolea and Mirza Shah were living in Silicon Valley when they pitched Jeff Gee on their robotics concepts. Fortunately for them, the star designer was working at the soon-to-shutter Willow Garage robotics lab.

So the three of them - Shah was also a software engineer at Willow - joined together and in 2014 founded Simbe Robotics.

The startup's NVIDIA Jetson-powered bot, dubbed Tally, has since rolled into more than a dozen of the world's largest retailers. The multitasking robot can navigate stores, scan barcodes and track as many as 30,000 items an hour.

Running on Jetson enables Tally to be more efficient - it can process data from several cameras and perform onboard deep computer vision algorithms. This powerful edge AI capability enhances Tally's data capture and processing, providing Simbe's customers with inventory and shelf information more quickly and seamlessly while minimizing costs.

Tally makes rounds to scan store inventory up to three times a day, increasing product availability and boosting sales for retailers through reduced out of stocks, according to the company.

'We're providing critical information on what products are not on the shelf, which products might be misplaced or mispriced and up-to-date location and availability,' said Bogolea, Simbe's CEO.

Forecasting Magic

Using Tally, retail stores are able to better understand what's happening on store shelves, helping them recognize missed sale opportunities and the benefits of improved inventory management, said Bogolea.

Tally's inventory data enables its retail partners to offer better visibility to store employees and customers about what's on store shelves - even before they enter a store.

At Schnuck Markets, for example, where Tally is deployed in 62 stores across the midwest, the retailer integrates Tally's product location and availability into the store's loyalty app. This allows customers and Instacart shoppers to determine a store's availability of products and find their precise locations while shopping.

This data has been helpful with addressing the surge in online shopping under COVID-19, enabling faster order picking through services like Instacart, helping to more quickly fulfill orders.

'Those that leverage technology and data in retail are really going to separate themselves from the rest of the pack,' said Bogolea.

There's an added benefit for store employees, too: workers who were previously busy taking inventory can now focus on other tasks like improving customer service.

In addition to Schnucks, the startup has deployments with Carrefour, Decathlon Sporting Goods, Groupe Casino and Giant Eagle.

Cloud-to-Edge AI

AI is the key technology enabling the Tally robots to navigate autonomously in a dynamic environment, analyze the vast amount of information collected by its sensors and report a wide range of metrics such as inventory levels, pricing errors and misplaced stock.

Simbe is using NVIDIA GPUs from the cloud to the edge, helping to train and inference a variety of AI models that can detect the different products on shelves, read barcodes and price labels and detect obstacles.

Analyzing the vast amount of 2D and 3D sensor data collected from the robot, NVIDIA Jetson has enabled extreme optimization of the Tally data capture system and has also helped with localization, according to the company.

Running Jetson on Tally, Simbe is able to process data locally in real time from lidar as well as 2D and 3D cameras to aid in both product identification and navigation. And Jetson has reduced its reliance on processing in the cloud.

'We're capturing at a far greater frequency and fidelity than has really ever been seen before,' said Bogolea.

'One of the benefits of leveraging NVIDIA Jetson is it gives us a lot of flexibility to start moving more to the edge, reducing our cloud costs.'

Learn more about NVIDIA Jetson, which is used by enterprise customers, developers and DIY enthusiasts for creating AI applications, as well as students and educators for learning and teaching AI.

Disclaimer

Nvidia Corporation published this content on 28 December 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 December 2020 19:44:01 UTC


© Publicnow 2020
All news about NVIDIA CORPORATION
10:10aToday on Wall Street: Hope for the best, prepare for the worse
09:23aMORE THAN MEETS THE AI : How GANs Research Is Reshaping Video Conferencing
PU
09:23aGFN THURSDAY HEATS UP WITH ‘LE : Bridge of Spirits
PU
09:16aVolvo's electric XC90 SUV to include lidar as standard equipment next year
RE
06:35aNVIDIA  : Wells Fargo Adjusts NVIDIA's Price Target to $875 From $715, Reiterate..
MT
06/23SHERD ALERT : GPU-Accelerated Deep Learning Sorts Pottery Fragments as Well as E..
PU
06/23NVIDIA STUDIO GOES 3D : Real-Time Ray Tracing and AI Accelerate Adobe's New Subs..
PU
06/23AS FAST AS ONE CAN GOGH : Turn Sketches Into Stunning Landscapes with NVIDIA Can..
PU
06/23MASAYOSHI SON : SoftBank CEO Son says share buybacks remain an option for firm
RE
06/23SOFTBANK  : CEO Son says share buybacks remain an option for firm
RE
More news
Financials (USD)
Sales 2022 24 835 M - -
Net income 2022 8 133 M - -
Net cash 2022 10 707 M - -
P/E ratio 2022 58,2x
Yield 2022 0,08%
Capitalization 475 B 475 B -
EV / Sales 2022 18,7x
EV / Sales 2023 16,8x
Nbr of Employees 18 975
Free-Float 61,8%
Chart NVIDIA CORPORATION
Duration : Period :
NVIDIA Corporation Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends NVIDIA CORPORATION
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 41
Last Close Price 762,29 $
Average target price 734,03 $
Spread / Average Target -3,71%
EPS Revisions
Managers and Directors
NameTitle
Jen Hsun Huang President, Chief Executive Officer & Director
Colette M. Kress Chief Financial Officer & Executive Vice President
William James Dally Chief Scientist & Senior Vice President-Research
Tony Tamasi Senior Vice President-Content & Technology
Debora Shoquist Executive Vice President-Operations
Sector and Competitors
1st jan.Capitalization (M$)
NVIDIA CORPORATION45.98%474 907
TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED12.26%551 099
INTEL CORPORATION10.92%223 140
BROADCOM INC.6.58%191 452
TEXAS INSTRUMENTS13.39%171 868
QUALCOMM, INC.-11.04%152 867