YoFio and its AI solution to support small stores
Artificial intelligence (AI) has become an indispensable tool in today's business world for driving growth and improving efficiency in companies. However, for micro-businesses such as corner stores, adopting this technology poses a significant challenge.
According to data compiled by the Association of Entrepreneurs of Mexico (ASEM), only 15.1% of Mexican startups utilize some form of artificial intelligence. This low adoption rate is partly due to a lack of understanding of the benefits that AI can offer and a perception of its complexity.
YoFio's Solution: Machine Vision for Corner Stores
Corner stores often view digitization and AI as obstacles rather than opportunities to enhance their performance. However, it is essential for these businesses to understand that adopting technologies like AI can make them more competitive and efficient in today's market.
In response to this challenge, YoFio, an application offering digital working capital loans, has implemented the Machine Vision solution, based on artificial intelligence. This solution uses AI-trained models to recognize images of products sold in corner stores.
The first Machine Vision model analyzes inventory images to identify products and their details, providing a detailed insight into the store's stock and sales. A second model assesses the filling level of shelves and refrigerators, helping to estimate the store's supply level.
Facilitating Financial Management for Corner Stores
In addition to improving inventory management, YoFio's AI also analyzes store purchase tickets, identifying suppliers, amounts, and sale dates. This allows YoFio to assess the credit capacity and financial needs of the stores, adapting its services in real-time.
The implementation of AI in corner stores not only enhances operational efficiency but also provides valuable insights to optimize inventory and increase business profitability. With the support of technological solutions like YoFio's, corner stores can more effectively tackle current market challenges.
As a company dedicated to developing financial solutions for businesses, YoFio is committed to providing corner stores with advanced tools, continuous support, and educational resources to harness the full potential of artificial intelligence. Their goal is to help these businesses understand that AI is not just advanced technology, but an ally in making their businesses more efficient and profitable.