Walmart has begun using artificially intelligent security cameras to tackle theft at checkouts in an effort to reduce losses.
According to Business Insider, the US retail giant has already rolled out the computer vision technology in 1000 stores, where it has successfully reduced losses due to theft, scanning errors and fraud.
Its camera technology, which it calls Missed Scan Detection, analyses activities at self-service and manned checkouts and notifies staff when an item has passed the checkout scanner without being registered, enabling them to intervene.
“Walmart is making a true investment to ensure the safety of our customers and associates,” Walmart spokeswoman LeMia Jenkins said.
“Over the last three years, the company has invested over half a billion dollars in an effort to prevent, reduce and deter crime in our stores and parking lots. We are continuously investing in people, programs and technology to keep our stores and communities safe.”
Around 1.3 per cent of retail revenues in the US in 2017 were reportedly lost due to “shrinkage”, representing a total loss of $47 billion according to the National Retail Federation.
Considering this figure, Walmart would have lost around $4 billion last year due to shrinkage.