AI solutions counter soaring retail crime losses

Integrated AI video, cloud, and access solutions combat retail crime.

Retail crime is tightening its grip on Asia-Pacific retailers, with 74% citing shrink as a major challenge. In response, Sole-Vision Technologies Pte Ltd is championing the use of AI video analytics, smart sensors, and cloud-based security to help retailers protect their assets and improve store performance.

“Basically, the AI video analytic is able to detect fraud at the cash register with the POS, and is able to have a real time intrusion alert to all the staff if there is any intrusion to the warehouse or things that are restricted from the normal customers,” said Richard Toh, Managing Director of Sole-Vision Technologies Pte Ltd.

He noted that the system also serves as a deterrent by flagging blacklisted individuals. “This is very useful for things like shoplifting in other shops, and this person is visiting the other stores belonging to the same owner, and this is potentially a very good deterrent to prevent further theft.”

Toh highlighted that the system is equipped to handle multiple safety functions, including detecting aggression, vaping, or smoke, and counting people in an area to prevent overcrowding. These capabilities alert staff in real time to prevent escalation of incidents.

Cloud-based integration further enhances security and responsiveness. “Having a cloud system is able to link all these security systems to one platform and is able to do multiple location viewing and so-called investigation of the incident that happened in a particular store at the same time,” Toh said. The cloud platform also strengthens cybersecurity by securely storing data and preventing leaks to hackers.

Beyond safety, cloud AI enables operational efficiency. “The heat map AI helps the owner to analyse where the merchandise is patronised in a certain area, and so that they can put those merchandise in those more patronised areas to induce more sales,” he said. Contactless access credentials, such as facial or mobile scanning, further streamline staff movement.

Integrating video, access, and retail systems also generates valuable business intelligence. “These reports can effectively measure the effectiveness of any promotional activities… give the marketing team more insight… and also… give the HR [data] in terms of the staff allocation and deployment,” Toh said.