The Benefits Of AI Surveillance To Reduce Shoplifting

Inventory loss due to theft is an ever-present menace to businesses in the retail sector. Retail businesses worldwide incur losses of around $100 billion due to shoplifting. One research study found that shoplifting accounts for 33% of retail shrinkage, while employee theft accounts for 33.1%. To combat shoplifting, some stores are now using computer vision technology. Artificial intelligence (AI) cameras and advanced computer vision algorithms have allowed shops to cut down on inventory loss caused by theft drastically in AI surveillance to reduce shoplifting. These tools can detect, locate, track, and notify businesses when theft is occurring. So, how does AI video surveillance work, and what benefits does it have for retail stores?

How AI Video Surveillance Works in Supermarkets

Security cameras and CCTV equipment have long been the go-to solutions for many supermarkets when it comes to combating shoplifting. Unfortunately, shoplifters still succeed in stealing a significant amount of goods from supermarkets and other retail stores due to staffing limitations or the inherent limitations of human observation in detecting suspicious activity and behaviors.

The AI surveillance software from Veesion uses computer vision to detect unusual motion patterns, concealed items, and even the faces of known shoplifters. The artificial intelligence framework used in CCTV surveillance follows a brick system:

• The first brick identifies an individual.
• A second brick uses anonymous analysis to determine the position of the arms at any given moment based on the body’s motion.
• The third brick uses object recognition technology to determine whether the product in hand was placed in the shopping basket, cart, or the buyer’s backpack, purse, etc.

When the system detects any unusual activity, it immediately notifies the retailer or security guard, who can verify whether the merchandise has been paid for at checkout.

The Benefits of AI Surveillance in Preventing Shoplifting

There are several significant benefits for retailers when AI is used for retail loss prevention, such as:

Increased Processing Speed

The main feature differentiating AI surveillance cameras from regular CCTV cameras is their ability to immediately analyze large amounts of data. Even a company with a hundred cameras watching consumers around the clock could not catch every suspicious action.

Additionally, AI can filter through data and only provide the security personnel with the most relevant details, which is a huge help when making decisions. The ultimate decision-maker is always a person!

Faster Video Search

Although it may seem simple, reactive security procedures like forensically reviewing video material to learn more about what happened may be a huge pain in the neck when you don’t have access to AI video analytics. This is something that security guards at major corporations’ facilities would probably agree with.

With artificial intelligence, video surveillance systems can scan through all recorded material far more quickly than a human operator. This shortens the time it takes to get useful data for investigating problems.

Maintains Ethical Standards while Enhancing Security

Many people mistakenly believe that AI can identify human beings; however, this is not the case. It picks up only questionable movements and actions. Therefore, it can withstand the scrutiny of CCTV without being influenced by prejudice or bias.

Through AI-enabled surveillance, retail store security personnel can now use visual evidence and facts alone to identify shoplifting incidences without being biased on factors such as race, dress code, or even biometric markers that resemble tattoos.

Improves and Adapts Constantly

A key component of AI is self-learning, or the capacity to acquire new knowledge independently through experience. The security system gets smarter and more precise the more the retailer uses it. The best part is that the user doesn’t need to invest in more training or upgrades to accomplish all this. Eventually, it becomes so good that it can spot previously unseen red flags.

Takeaway

The use of AI-powered surveillance systems has revolutionized how retailers tackle shoplifting. This technology uses a data-driven, proactive approach, which helps cut down on losses and makes shopping better for other customers. By using this technology, stores can significantly enhance their overall safety and financial performance.