AI helps retailers reduce shrinkage and gain ROI

Chicago, Il (USA)

The requirement was to deliver measurable ROI, prevent loss, improve operations, and be a long-term solution.

A large retail chain wanted to leverage their camera systems to include AI technology to improve store operations and reduce loss, and Convergint Technologies stepped in when it was asked to help solve this challenge.

Before evaluating their options, Convergint met many times to understand the scope and results the retail chain expected from the technology. It had to deliver measurable ROI, prevent loss, improve operations, and be a long-term solution.

Leaders of large retail operations face complex business and security challenges when it comes to managing store operations and preventing loss. Many of these challenges can be solved with the help of Artificial Intelligence(AI) technology. Convergint, partnered with Anyvision, can provide professional design and installation for AI platforms. Anyvision’s top-ranked AI platform helps deliver measurable results and solve real-world problems.

The result for the retailer was that the artificial intelligence technology helped get a better insight into losses and how they were occurring. And according to Convergint, it resulted in a 50% increase in stops and removal of known offenders, quicker investigations, and a higher conviction rate. Thanks to the solution delivered by Convergint and Anyvision, the retailer is experiencing better store operations and less inventory shrinkage, which has resulted in a complete ROI of 7 months.

The adage “time is money” holds very true when deploying AI platforms. When business leaders begin to see the success of AI platforms, they want to accelerate the deployment of AI to maximize the business benefits. Working with organisations that have the organisational strength to quickly scale and deliver the results of AI technology is critical to achieving the benefits of AI.

Together Convergint and Anyvision can offer the option to design, install, and service artificial intelligence platforms that allow businesses to increase ROI, enhance the apprehension process, and improve customer shopping satisfaction.


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