Shoplifting costs retailers almost $20 billion dollars every year and, minorities who represent just 20% of shoppers, account for a disproportionate 70% of all shoplifting apprehensions. Our goal is to combat shoplifting in a fair, unbiased manner.
Loss prevention personnel today monitor up to 50 screens simultaneously for over 8 hours a day, and end up missing 70% of all shoplifting incidents. Even worse, due to their susceptibility to bias, 40% of the time that they're watching someone, it's exclusively due to the color of their skin, even when the individual has shown no suspicious behavior. And, in spite of this poor performance and racial bias, retailers still spend upward of $100,000 dollars per store on these personnel.
Percepta alleviates these issues with its AI-based shoplifting detection software. We send retailers' existing camera feeds to our cloud software and immediately strip away all demographic information before feeding it to our AI to determine shoplifting risk. When a high-risk incident is found, we send an alert to our mobile app on store personnels' phones with a clip of the suspicious behavior.
Because of our anonymization process, our AI can't see race, gender, age, or any identifiable characteristics, making it unbiased and privacy-preserving. Percepta, therefore, offers 24/7 monitoring at 3x the accuracy of humans all in an ethical, socially responsible manner.
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