BUSINESS WIRE
Everseen secures new patents for self-checkout innovations and receives accolades for industry-leading retail AI
Everseen Achieves Key 2024 Milestones in Vision AI for Retail
Everseen, a leader in vision AI, today announced key 2024 milestones, including new patents, a loss prevention solution for high-value aisles, and a new inventory management solution. These achievements, along with industry accolades and impressive ROI findings, underscore Everseen’s continued leadership in transforming retail operations.
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Evercheck’s patented vision AI in action-- minimizing retail shrink with global shrink intelligence and recognition of 30 distinct loss patterns. (Photo: Business Wire)
“Vision AI has the power to transform retail operations,” said Alan O’Herlihy, Founder and CEO of Everseen. “We not only improve business operations and profit margins for retailers but also help ensure positive customer experiences. Over the past year, we’ve made major advancements and expanded our offerings to better support retailers in tackling their most critical challenges.”
Patented Vision AI and Advanced Shrink Intelligence
In 2024, Everseen achieved key advancements in retail AI innovation, including:
- Patented Vision AI: Everseen was granted two new patents in 2024, one for anomaly detection and another specifically for detecting cart-based loss. These innovations combine vision AI with advanced data processing, and bring Everseen’s total patents to 83 worldwide, protecting more than 20 distinct technology innovations.
- Enhanced Global Shrink Intelligence: Everseen’s enhanced intelligence provides retailers with unparalleled insights, empowering them to anticipate and address emerging types of shrink such as cart-based loss, which Everseen identified in early 2024 as the source of 30% of all self-checkout incidents.
- Unmatched Pattern Identification: Building on insights into cart-based loss, non-scans, and abandoned transactions, Everseen’s platform now catalogs 30 distinct shrink patterns-- far surpassing the limited set tracked by other industry solutions.
Accolades and Customer Success
- Technology Vendor of the Year: Everseen was named the winner of this prestigious award (in the Rest of World category) at the 2024 RTIH Innovation Awards, recognizing the company’s leadership in retail technology innovation.
- AI Innovation: In 2024, Everseen was recognized as a Top 10 AI Company in the UK & Europe by AI Magazine, and was included in Analytics Insight’s Top 100 Generative AI Companies.
- 100% Customer Retention: Over the past four years, Everseen maintained a 100% customer retention rate, now counting 11 of the top 20 global retailers among its clients. In 2024, Everseen’s solutions were deployed in over 8,000 stores, supporting major global relations including Kroger, Meijer and Woolworths.
- Measurable ROI: The Total Economic Impact™ (TEI) of Everseen’s Evercheck Solution (Sept 2024), commissioned by Everseen, found that retailers using Evercheck achieved a 374% return on investment (ROI) over three years, with a break-even period of under six months.1
About Everseen
Everseen is a leader in vision AI, trusted by 11 of the top 20 global retailers. The company is transforming retail by reducing shrink, streamlining operations, and enhancing customer experiences. Everseen’s Vision AI Platform has the largest footprint of AI-powered computer vision endpoints in retail, and can be applied to a wide range of industries with visual or physical workflows. For more information, visit: www.everseen.ai.
1 ROI findings are from the commissioned Total Economic Impact™ (TEI) study conducted by Forrester Consulting on behalf of Everseen, Sept 2024. Results are based on a composite organization representative of interviewed customers.
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