Launch of Trigo's Innovative Loss Prevention Solution
Redefining Shrinkage Control In-Store
Trigo Vision Ltd., a prominent provider of advanced computer vision AI technology, is excited to announce the introduction of its latest AI-driven loss prevention solution. This cutting-edge technology is specifically designed to counteract the escalating issues of retail theft and inventory shrinkage, which are currently estimated to inflict financial losses exceeding $130 billion annually. Recent statistics indicate a staggering 93% increase in shoplifting incidents compared to pre-pandemic levels, making this innovation timely and necessary.
How Trigo's Technology Works
The solution builds on Trigo's established computer vision capabilities, which have already been implemented in numerous autonomous stores by some of the largest retailers globally. This new offering ensures a capex-free approach to effectively combat retail losses.
Real-Time Item Comparison
One of the standout features of this solution is its ability to compare each item scanned with what the shopper physically picks up in real-time. This function allows for immediate identification of mismatches. If a shopper takes an item without scanning it, alerts are generated at checkout, all while maintaining customer privacy and ensuring a smooth shopping experience.
Enhanced Detection Mechanism
Traditional retail security methods primarily rely on CCTV cameras, providing passive monitoring. In contrast, Trigo's computer vision AI operates as an active brain-like system. It monitors shoppers as anonymized figures and keeps track of which items are picked, focusing particularly on high-theft areas. By cross-referencing with items scanned at checkout, the system can detect concealed or visible items alike.
Addressing Retail Theft Blind Spots
One of the critical shortcomings of traditional systems is that they only monitor checkout procedures. However, the majority of shoplifting occurs long before shoppers reach the checkout area. Trigo's solution directly targets these blind spots by providing real-time identification of theft actions and delivering immediate alerts to store security personnel, regardless of the checkout method used, including self-checkouts, manned registers, or Scan&Go systems.
Prioritizing Customer Privacy
With an emphasis on privacy, Trigo's technology is designed to ensure that no biometric data is collected, stored, or utilized. This focus on privacy is crucial for maintaining a frictionless experience for honest customers while safeguarding against retail theft.
Efficient Deployment Using Existing Infrastructure
Trigo's implementation process is both simple and effective, utilizing current CCTV systems. There’s no substantial capital outlay required for new hardware, allowing for rapid deployment with minimal disruption to store operations. The only requirements are connectivity to the existing Network Video Recorder (NVR) systems and integration with the Point of Sale (POS) systems, ultimately providing swift returns on investment.
CEO of Trigo, Daniel Gabay, remarked on the launch, stating, "Trigo's mission is to empower retailers with advanced Computer Vision AI technology to tackle the industry's most pressing challenges. Given the alarming increase in retail theft, we are thrilled to introduce a solution that integrates seamlessly into current infrastructures, delivering efficient loss prevention while enhancing the overall customer experience."
About Trigo Vision Ltd.
Trigo Retail stands at the forefront of Computer Vision AI technology, collaborating with leading retailers to address many complex challenges within the sector. Utilizing proprietary technology, Trigo manages over five million shopping activities monthly with unparalleled accuracy, all while adhering strictly to privacy-by-design principles. The company’s CVaaP (Computer Vision as a Product) platform encompasses vision-based and data-driven solutions that promote loss prevention, retail intelligence, fully autonomous shopping environments, and much more.
Frequently Asked Questions
What is Trigo's new loss prevention solution?
Trigo's loss prevention solution uses advanced AI technology to combat retail theft effectively and enhance the shopping experience by monitoring and comparing items in real time.
How does the technology maintain customer privacy?
The technology does not collect or store any biometric data, ensuring that the privacy of customers is prioritized while minimizing friction in the shopping experience.
What infrastructure is needed to deploy Trigo's solution?
Trigo’s system can be integrated with existing CCTV and POS systems, requiring no major capital investment in new hardware, allowing for rapid implementation.
How does Trigo's solution compare to traditional retail security measures?
Unlike traditional systems that primarily monitor checkout areas, Trigo's solution identifies theft actions throughout the store in real time, providing immediate alerts to security personnel.
What impact does theft have on retail businesses?
Theft significantly impacts profitability, contributing to over $130 billion in losses annually, stressing the need for effective loss prevention solutions like Trigo's.
