Retail AI Limited, a new start-up at the intersection of onsite retail media and artificial intelligence, has announced the appointment Mark Steven as its new Chief Executive Officer.
An industry veteran, the former CEO of Snappy Shopper, said, “I am delighted to take up this new appointment. With over three decades in the retail sector, I have been directly involved in many exciting developments. The Retail AI solution, however, is without question the most exciting proposition I have come across yet.”
Highlighting the seamless integration of branded sound and AI, Steven explained, “The base proposition is a powerful autonomous tool that offers personalised local in-store audio designed to engage, entertain, and promote sales and services through music and bespoke messaging. This market-leading functionality comes at the most competitive price point, providing retailers with unmatched value, but the real excitement arises when this audio is linked to real-time in-store CCTV.
“CCTV-driven AI watches for pre-determined demographic or behavioural triggers and instantly plays appropriate promotional, preventative or warning messages across the audio system. For instance, if an individual considered to look under 25 by our Age-Sense module enters a beer cave, it triggers professionally produced warning messages. This automatic and seamless process has proven to significantly minimise refusals, confrontation and incidents of aggression towards staff. Our innovative modules, including queue busting and proxy purchasing, are already making waves with additional modules addressing anti-theft and aggression or threatening behaviour currently in live testing on a number of Booker concept stores in Scotland.
“Our solution, available via subscription starting at only £1 per day, can leverage the retailer’s existing audio and CCTV equipment. In an increasingly challenging retail climate, I believe our Retail AI solution will be an invaluable asset, empowering retailers to increase sales and safeguard their businesses,” he concluded
Co-Founder John Prendergast expressed his delight at Steven’s appointment: “We are thrilled to welcome Mark as our new CEO. Mark will play a pivotal role in shaping Retail AI’s future. With his wealth of experience in rapidly growing tech businesses within the convenience sector, we are confident that Mark’s leadership will propel Retail AI to new heights.”
Mark Steven took up the position on 8 January 2024.