Utilising AI-Technology For An Enhanced Retailing Ecosystem

KUALA LUMPUR, Dec 23 (Bernama) -- Nano Commerce Sdn. Bhd., the commercial arm of NanoMalaysia Berhad (NMB), Malaysia’s leading agency in nanotechnology and advanced solutions commercialisation under the Ministry of Science, Technology and Innovation (MOSTI), is proud to launch ezyCart, Southeast Asia’s first and only Smart Shopping Cart what is 100% conceptualised, designed and developed in Malaysia by our investee company, Retailetics Sdn Bhd (Retailetics).
 
When the pandemic struck, larger grocery retailers, namely hypermarkets & supermarkets, were quick to adopt new innovations to facilitate checkout, locate products in the store and keep customers up to date on products and promotions. It is unlikely they will ever go back to the pre-pandemic ways now that their customers are used to, expect deeper personalisation, and avoid checkout queues with seamless checkout and cashless payment services inside the cart.
 
With an intuitive user interface that is supported by real-time data from sensors, cameras and Artificial Intelligence (AI), ezyCart enables grocery retailers to engage shoppers and deliver personalised and frictionless experiences inside their stores while gaining access to real-time insights into shopper preferences and behaviour and boosting brand value, footfall, sales and customer retention. ezyCart and its shopping systems are patent-pending in 9 major patent offices worldwide.
 
NanoMalaysia Berhad Chief Executive Officer, Dr Rezal Khairi Ahmad said: "The digitally enabled shopping cart powered by Internet of Nano Things (IoNT) system, data analytics and artificial intelligence promises both significantly improved shopping convenience and safety in terms of quick information accessibility, product location navigation and on-site payment as well as minimising physical contact.”
 
Since January 2020, Retailetics has successfully developed ezyCart using IoNT Solution for Retail Platform, including integrating beacon technology for cart navigation, items detection and promotional activities at the designated shopping sections. This solution, paired with wireless technology, enables efficient power management of the carts. Through this project, Retailetics created an enhanced retailing ecosystem through three components: ezyList, ezyRetail, and ezyCart.
 
Dr Rezal added, "NanoMalaysia's joint effort with Retailetics is an outcome of the 4IR-inspired REVOLUTIoNT programme to digitalise further our lifestyle for a better alignment with Malaysia's 4IR Policy and MyDigital Blueprint. It will also assist the company and other potential enterprises in capturing a slice of the Internet of Nano Things market at USD 36.17 billion by 2025 at a CAGR of 24.12% from 2020 to 2025."
 
For the project's next phase, the development of Retailetics' custom-manufactured carts is targeted for the second quarter of 2023, while ezyList and ezyRetail have been further enhanced with new features for better functionality. ezyRetail can now track ezyCart usage, status and other functional information. At the same time, the ezySupport application has been developed to support customers shopping in-store who might face difficulties with their ezyCart, such as price and promotion mismatch, barcode or other technical issues on products that require store personnel assistance.
 
About Nano Commerce Sdn Bhd
Nano Commerce Sdn Bhd (NCSB) is a wholly-owned subsidiary and a business and commercial arm of NanoMalaysia Berhad. It is an investment company engaged in developing, buying, and selling nanotechnology products and other related service activities. Its role includes identifying and facilitating business opportunities.
 
About NanoMalaysia Berhad Group of Companies
NanoMalaysia Berhad was incorporated in 2011 as a company limited by guarantee (CLBG) under the Ministry of Science, Technology and Innovation (MOSTI) to act as a business entity entrusted with nanotechnology commercialisation and industrialisation activities through a venture builder model. Nanotechnology continues to provide efficient and enhanced solutions to various applications in smart living, smart manufacturing, agriculture, electronic devices, energy and the environment. NanoMalaysia is currently the leading agency for electric vehicle (EV) technology development under MOSTI.
 
Source: NanoMalaysia Berhad 
 
FOR MORE INFORMATION, PLEASE CONTACT:
Name: Raja Riznal Raja Abidin 
Senior Vice President
Tel: +603 2779 0200 ext 6001 
Email: corporateaffairs@nanomalaysia.com.my 

--BERNAMA