Retailers combat theft with AI, technology solutions.
Retail shrinkage is the loss of inventory due to shoplifting, employee dishonesty, supply chain and delivery theft, fraud and organized crime. To combat this, retailers are investing in AI-based video analytics, cash automation technology, RFID systems, in-store heat maps, autonomous security robots, and license plate readers. These intelligence-based systems are helping to protect customers and products, and are expected to continue in the future. The National Retail Federation has urged retailers to embrace these systems, and they are increasing their budgets to do so.
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