Game changing technology comes infrequently in the retail arena when it comes to finding the perfect product. The bar-code was one of the first true innovations as it gave products a tag that could be referred to in order to find it. Another major innovation came with the internet. Finally we can now search for everything and anything online and order whatever we want from the comfort of our homes. Now let’s talk about the next game changing technology: a Shazam-like service, but for all the retail items around you…
Slyce intends to offer a service that will allow you to visually search for any items you can photograph. Think: you see a shirt on a character in a sitcom; pause the screen; pull up the app and point your cam at the shirt. Based on the visual, Slyce will search through their directory of items and tell you where the shirt (or similar ones) are sold and potentially even give you the option to order right there. Now, obviously something as innovative as this may not be the kind of thing that you can launch overnight, but Slyce has created quite the war chest through investment rounds, most recently raising $10.75 million in March.
The concept is not without its competitors. Amazon has a service similar to this, however in order for it to function the item needs to be in its original packaging when you submit a visual. Slyce intends to avoid this limitation and make items entirely searchable in as many situations as possible. It is plausible that Slyce is also considering the power of crowd-sourced images to help constantly improve their recognition services.
That said, before we all get too excited about the technology, Slyce is in this for the money. It is currently working with retailers to test the system, and is looking at other opportunities for its technology. This may mean that only companies who have signed up for Slyce’s service may be searchable, however, if this technology works as intended it is going to be the kind of innovation that every retailer will want to be in on.
What are your thoughts on Slyce? Would you use their services? Let us know in the comments below or tweet us @ViewTheVibe.
