US Retailers Turn to French AI Cameras to Fight Shoplifting Surge
▼ Summary
– Veesion, a Paris-based AI startup, raised €38mn to expand its shoplifting-detection technology to the US, addressing the country’s rising theft problem.
– The company’s AI software analyzes security camera footage to detect suspicious gestures, alerting store owners via an app while preserving privacy by not capturing facial or clothing details.
– Veesion’s CEO criticizes traditional security cameras as ineffective, as they require constant human monitoring, whereas their AI automates detection in over 6,000 stores across 25 countries.
– Shoplifting losses are significant, with US retailers reporting $112bn in inventory losses in 2022, while the UK saw a 50% rise in violence against shop workers in 2023.
– Veesion plans to open a Florida office, expand its AI to detect other retail risks like falls, and explore sectors like manufacturing and healthcare.
Retailers across the United States are adopting innovative French AI camera technology to combat escalating shoplifting rates that have reached epidemic proportions. Paris-based startup Veesion recently secured €38 million in funding to accelerate its expansion into the American market, where retailers lost over $112 billion to inventory shrinkage last year—with shoplifting accounting for nearly $40 billion of those losses.
Unlike traditional security cameras that passively record footage, Veesion’s AI-powered system actively analyzes real-time video feeds for suspicious behavior, such as customers concealing merchandise. When potential theft is detected, the software immediately alerts store staff through a mobile app, displaying the recorded activity for verification. The company emphasizes privacy by focusing solely on movement patterns rather than facial recognition or personal identifiers.
Thibault David, Veesion’s CEO, criticizes conventional surveillance as ineffective. “Most retail cameras just collect dust because nobody monitors them continuously,” he explains. Since its 2018 launch, the startup has deployed its technology in 6,000 stores worldwide, including major markets like the UK and Brazil. Now, with a new Florida office and 50 planned hires, Veesion aims to strengthen its U.S. footprint amid soaring retail crime.
The urgency for solutions is clear. Beyond financial losses, retailers face growing safety concerns—UK shop workers endured over 2,000 daily incidents of violence or abuse last year, a 50% annual increase. While AI detection won’t eliminate theft entirely, it provides retailers with actionable intelligence to intervene strategically, reducing reliance on understaffed security teams.
Beyond theft prevention, Veesion envisions broader applications for its computer vision platform, including hazard detection like slip-and-fall risks. Future expansions into manufacturing and healthcare sectors could further diversify its impact. As retail crime evolves, AI-driven tools are becoming indispensable for businesses determined to protect both profits and personnel.
(Source: The Next Web)
