The Retail Industry Leaders Association (RILA ) recently released an article which highlights some of the smartest way to protect the assets in retail stores.
More and more, retailers are turning to technology to help them not only protect their assets but also deliver excellent customer service. At a recent ‘innovation forum,’ several retailers came together to discuss ‘future trends” and “cutting-edge technologies.”1
As a result of the forum discussions, RILA compiled a list of some top trends in the asset protection technology.
Here are some excerpts from the article. Click here to read the whole thing.
One important trend is smart video. New technological advancements in vision and intelligence are making it possible to search information captured by and then extracted from the video. The result is that the subject’s facial expressions and even emotions can be determined. Research is also being done on technology that is able to deduce what is happening outside the range of the camera based on what is happening inside the range of the camera.
Another up and coming technological advancement has to do with biometrics, and the ability of the technology to anticipate perpetrators’ actions before they act on their bad intentions.
Predictive analytics is yet another aspect of using advancements in technology to increase asset protection in retail stores. Rather than relying on the ‘old fashioned’ way of forecasting fraud (for example by looking at older data and projecting into the future), predictive analytics peers into the future – literally. For example, a static picture of someone coming in a store could be analyzed to predict both where in the store they will go and also what their behavior will be in those areas.
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