AI in retail could help prevent shoplifting before it even occurs. The world’s largest retailers are already leveraging technology to mitigate billions of dollars in losses and protect both employees and customers.
Heat maps for crime detection
Videos and images of organized ’smash-and-grab‘ robberies in stores and shopping centers often go viral online. Recognized companies are now increasingly utilizing AI in retail to counteract the issue of organized theft.
An AI-driven heat map approach helps retailers to share real-time data, hoping to stop large-scale ’smash-and-grab‘ robberies before they happen. This is aimed at reducing losses while simultaneously protecting consumers and employees. A heat map utilizes AI to predict future criminal events by incorporating data from as many sources as possible, ranging from law enforcement agencies to the retailers themselves.
The collected data create hot spots for potential criminal activities, which participating companies can view on the map dashboard. The long-term goal is to equip participants with two-way radios and an app that triggers an alarm when a crime occurs nearby, allowing the stores to be prepared.
More investments in theft prevention
To prevent theft and support employees and customers, retailers are collaborating on solutions. According to a recent report by the National Retail Federation, over 50% of retailers are increasing spending on theft prevention. Companies like Target, Walmart, Home Depot, Walgreens, and T.J. Maxx are collectively investing in AI in retail, real-time heat maps, and other innovative technologies.
To track retail theft, the Department of Homeland Security’s Operation Boiling Point team has developed an AI-powered analytics tool called RAVEN, which aggregates criminal data from various jurisdictions. The tool aids in establishing connections between individual crimes and tracking criminal rings and their supporters.
In 2023, Operation Boiling Point saw a 200% increase in investigations. The unit received tips from retailers nearly every day.
