Revolutionizing Retail: Trigo Vision’s Cutting-Edge AI Solution for Loss Prevention
The technology has already been implemented by Tesco in the UK and REWE in Germany. Credit: Trigo Vision Ltd.
The Challenge of Retail Theft
In an era where convenience and efficiency are paramount, retailers face an increasingly daunting challenge: retail theft and inventory shrinkage. Reports indicate that losses due to these issues surpass a staggering $130 billion annually. This figure not only encompasses lost profits but also impacts operational costs, making it a critical concern for retailers globally.
Introducing AI-Driven Solutions
To combat these growing threats, Trigo Vision has unveiled an innovative, AI-driven loss prevention solution. This state-of-the-art technology has already seen successful implementation in stores like Tesco in the UK and REWE in Germany. What sets Trigo’s approach apart is its capital expenditure-free model, which enables retailers to tackle loss without the need for hefty investments.
How It Works
Trigo’s revolutionary system employs advanced computer vision technology that operates alongside existing infrastructure. The AI solution continuously compares each item scanned at checkout against what the shopper physically picks up, detecting discrepancies in real time.
The process is seamless; if an item is taken from the shelf but not scanned at the register, an alert will be triggered to notify staff. This mechanism is designed to ensure an effective balance between loss prevention and a frictionless shopping experience, prioritizing customer convenience and privacy.
Enhancing Existing Systems
One of the notable features of Trigo’s technology is its ability to function as the "brain" of existing CCTV systems. By tracking shoppers as anonymized entities, it identifies items, particularly in high-theft areas. This proactive approach addresses a critical blind spot in traditional loss prevention systems, detecting concealed items before a shopper reaches the checkout.
Privacy First
In an age where data privacy is of utmost concern, Trigo Vision remains committed to upholding customer privacy. Their solution ensures that no biometric data is collected, used, or stored, all while maintaining a seamless shopping experience. By prioritizing privacy, Trigo alleviates concerns that often accompany advanced surveillance technologies.
Quick Deployment and ROI
Another significant advantage of Trigo’s solution is its rapid deployment capability. By leveraging existing CCTV infrastructure in retail stores, retailers can connect to Network Video Recorder (NVR) systems, allowing for easy integration with Point of Sale (POS) systems. This swift implementation minimizes operational disruptions and promises an immediate return on investment.
Commitment to Empower Retailers
Daniel Gabay, CEO of Trigo, emphasizes the company’s mission: “Trigo’s mission is to empower retailers with cutting-edge computer vision AI technology to address the sector’s biggest challenges. With retail theft on the rise, we are proud to launch a solution that integrates easily into existing estates and delivers quick and efficient loss prevention, along with an improved experience for both retailers and customers.”
The Future of Retail Loss Prevention
As retailers continue to seek ways to safeguard their bottom lines, solutions like Trigo Vision’s offer a glimpse into the future of loss prevention. By combining advanced technology with a customer-centric approach, retailers can combat theft while enhancing the shopping experience. As the retail landscape evolves, so too will the strategies to address the persistent challenge of inventory shrinkage, all made possible by innovations like those being pioneered by Trigo.