Surveillance in a Maryland store enhanced through utilization of artificial intelligence for apprehending suspected thieves
In the bustling retail landscape of the Greater Washington area, shoplifting has been a persistent issue for many store owners. KJ Singh, the owner of Kings Contrivance Liquor & Smoke Shop in Columbia, MD, and another shop in D.C., was one of the first to adopt a solution to this growing problem: the AI surveillance system from French company Veesion.
Singh's store was experiencing daily losses of around $50 to $100 due to shoplifting, with each stolen expensive bottle resulting in a loss of $30 to $40. However, since adopting the Veesion system, he has reported a noticeable difference. The AI surveillance system is designed to identify movements like slipping a bottle into a jacket or a backpack in seconds and send digital alerts. These videos are sent to the cash register, mobile phone, desktop, or tablet for real-time intervention.
Benoit Koenig, General Manager of Veesion, stated that shrinkage (losses due to shoplifting) has a significant impact, which is worsening since the pandemic. AI surveillance systems like Veesion have proven highly effective in reducing retail shrinkage by using real-time video analytics to detect suspicious behaviors such as concealment or product tampering, sending instant alerts to store staff. Retailers piloting Veesion have reported theft reductions and profit increases up to 50%, while maintaining a discreet and shopper-friendly atmosphere.
The adoption of AI surveillance systems by local stores may help reduce losses and improve store security. In the Greater Washington area, local stores, such as those in Maryland, have begun adopting AI surveillance to address retail theft increases, leveraging AI’s capacity to identify potential shoplifters early and improve loss prevention.
Additional benefits of platforms like Veesion include enabling hands-on customer experiences without security friction, which helps conversion rates. Integrating with other tech like RFID and sensor-enabled displays can further reduce shrink by up to 25% and improve checkout speeds by 40%, enhancing overall operational efficiency. Empowering staff with real-time tools and alerts improves intervention times and deterrence.
While exact deployment data for Veesion in Greater Washington is sparse, regional news coverage confirms that AI surveillance adoption is underway and effective in curtailing theft there. The latest solution for retailers may be the use of artificial intelligence (AI) technology. In 2022, retail shrink (losses due to shoplifting) accounted for over $112 billion in losses nationwide, according to the National Retail Federation. Estimates suggest retail shrink losses could reach $140 billion by the end of 2025.
In summary, Veesion and similar AI-powered retail surveillance systems are highly effective in reducing shrinkage, improving profits, and creating safer, more welcoming retail environments, with demonstrated impact both globally and increasingly in the Greater Washington area. The use of AI technology for retail theft prevention is a potential solution to the growing problem of shoplifting, with the potential to save businesses significant amounts of money.
- As the use of AI technology for retail theft prevention continues to grow, local stores in the Greater Washington area, such as those in Maryland, are also adopting artificial-intelligence-powered surveillance systems like Veesion to address increasing shoplifting issues.
- In the rapidly evolving landscape of retail, technology firms like Veesion are capitalizing on AI's ability to identify potential shoplifters early, enabling store owners in various industries, including finance, retail, and technology, to improve loss prevention and enhance overall operational efficiency.
