MUMBAI: Happy Finish, the VR content specialists and global production studio, has launched its Artificial Intelligence (AI) technology.

Shoegazer, currently a proof of concept (PoC) for the fashion-retail industry, uses image recognition and transfer learning technologies to identify brands and models of trainers in real-time – with 95 per cent accuracy. To support the full launch of Shoegazer, Happy Finish is also embarking on a round of capital fundraising for £395,000.

Happy Finish’s Shoegazer is a unique PoC for the fashion and retail industry.

There is also opportunity to apply the transfer learning technology from Shoegazer to other areas within fashion and retail, including clothes, accessories and bags. The nature of the application also means that it is not solely limited to individual brands - there is also an opportunity for retailers to use the application to cross-sell other products within their portfolio. The prototype is already being presented to partner brands with a view to market launch in late 2016.

Happy Finish global CEO Stuart Waplington shared, “Retail is always one of the first markets to adopt new and emerging technologies. We have seen the retail industry successfully adopt VR and AR and we have even been heavily involved in the process - which means diversifying into AI is a natural next step for us.”

Happy Finish will use its first-hand market experience to support its diversification into AI. According to Markets & Markets, the global market for AI is set to be worth $5.05 Billion by 2020. Rapid adoption of AI is set to transform a range of markets, including advertising and media, finance and retail, offering benefits such as improved productivity and increased customer satisfaction.