Retail Shrinkage is a significant concern for retailers, with losses topping billions of dollars each year for the industry. Most retailers tend to react to losses after they occur. In this article, we'll look at the reactive mode that is plaguing the industry and list down some strategies
False positives are the bane for security products and technologies. They tend to take the focus away from the prevention of incidents. Teams and personnel end up working overtime to ensure that product experience for customers and prospects are not adversely impacted due to events being misreported. With the introduction
Retail Shrinkage is at its peak and store staff are increasingly losing trust on the shoppers who visit their stores. Even though security personnel are deployed in the store to prevent theft, the number of theft incidents and the losses associated with it are mounting with each passing day. Incidents
The European Union Artificial Intelligence (EU AI) Act aims to regulate all AI systems marketed within the EU. It sets out four tiers of risk associated with potential AI implementations, ranging from Unacceptable to Minimal. The SAI Platform is currently classified as a Minimal Risk system, and therefore there are
Work with SAI Group to Reduce Loss Self-Checkout (SCO) is witnessing greater adoption, with millions of items being scanned across stores of retail chains. While this has helped retail chains showcase a futuristic tech-savvy store with fewer personnel, loss prevention officers are staring at rising self-checkout fraud, highlighting the risks
Organised retail crime (ORC) poses a significant threat to the retail industry, impacting both profitability and customer safety. As criminal activities become more sophisticated, retailers must leverage advanced technology solutions to stay ahead of these threats.
Retail chains across the US and UK have reported significant losses, amounting to billions of GBP, due to shoplifting. Store staff, whose objective is to ensure that customers have a pleasant experience while shopping, now find themselves in an unsafe work environment. Even the UK government acknowledges this as an
Take a look at the evolution of video analytics and computer vision as a tool for stopping the misuse of self-checkouts, understand how things have changed and where they are today, and how things might adapt in the future.
Loss Prevention Needs Smart Technologies With each passing year, the retail industry is witnessing a steady rise in shrinkage, which is financial losses occurring due to theft. According to the National Retail Security Survey 2023, 36 percent of retail shrinkage in the US can be attributed to external theft and
It is well known that theft and violence are heavily correlated crimes. It should be no surprise then that, as a combination of factors make shoplifting more common, there will inevitably be in increase in violence and aggression inside stores.
computer vision
Essentially, we are transforming the input from the cameras into a live assistant, one which is able to provide vital updates and answer questions backed by the most up-to-date information you have available.
Artificial Intelligence
Recent history has taught us many valuable lessons that will shape the way we live and work in the future. Reflecting on the steps taken during the early stages of the COVID-19 pandemic, we can draw valuable lessons for combating the rise in shoplifting.