Retailers are suffering more than ever from ‘shrink’, the loss of goods due to theft, damage or misplacement, with the retail industry being hit hardest. According to the National Retail Federation’s 2022 Retail Security Survey, conducted in partnership with the Loss Prevention Research Council, the retail industry seeks to address his $100 billion problem, of which 65% It is presumed to have been stolen. Many retailers report that thefts have more than doubled recently due to higher prices for food and other essentials.
Retailers are suffering more than ever from ‘shrink’, the loss of goods due to theft, damage or misplacement, with the retail industry being hit hardest. According to the National Retail Federation’s 2022 Retail Security Survey, conducted in partnership with the Loss Prevention Research Council, the retail industry seeks to address his $100 billion problem, of which 65% It is presumed to have been stolen. Many retailers report that thefts have more than doubled recently due to higher prices for food and other essentials.
However, developers can use NVIDIA Retail AI Workflows to build loss prevention applications. Workflow is built on his NVIDIA Metropolis Microservices, a low-code or no-code way to build AI applications. Microservices provide the building blocks for developing complex AI workflows and enable rapid scaling to production-ready AI apps.
Retail AI Workflows Designed to Prevent Losses
NVIDIA announced three Retail AI workflows to help developers rapidly build and deploy applications designed to prevent theft. The no-code or low-code building blocks for loss prevention applications are pre-trained with images and software from the most stolen products and are compatible with existing store applications for object and product tracking across POS machines and stores. You can plug it in.
Read Hayes, director of the Loss Prevention Research Council, said:
“Macrodynamics are driving retail theft on the rise, threatening to overwhelm the industry. Firms are now facing the reality that investing in loss prevention solutions is a critical requirement.”
NVIDIA Retail AI Workflows are available through the NVIDIA AI Enterprise software suite and include:
- Retail Loss Prevention AI Workflow: The AI model in this workflow is pre-trained to recognize hundreds of products most commonly lost to theft, such as meat, alcohol, and laundry detergent. The model is pre-trained to recognize them in the various sizes and shapes provided. Retailers and independent software vendors can use synthetic data generation from NVIDIA Omniverse to customize and further train models to include hundreds of thousands of store products. Workflow is a state-of-the-art few-shot learning method developed by NVIDIA Research. Combined with active learning, it identifies and captures new products scanned by customers and salespeople during checkout, improving model accuracy.
- Multi-camera tracking AI workflow: This workflow provides multi-target, multi-camera (MTMC) capabilities that enable application developers to more easily create systems that track objects with multiple cameras throughout a store. The workflow tracks objects and associations across cameras and maintains a unique ID for each object. Objects are tracked through visual embeddings or appearances rather than personal biometric information to maintain complete shopper privacy.
- Retail store analytics workflow: Uses computer vision to provide insights for store analytics, such as store traffic trends, number of customers with shopping carts, aisle occupancy, and more, via custom dashboards.
Integrate the model
NVIDIA says developers can easily customize and extend these AI workflows by integrating models. Microservices also make it easy to integrate new products with legacy systems such as his POS system.
Bobby Chowdary, Chief Technology Officer at Radis.ai said:
“NVIDIA’s new retail AI workflows, built on Metropolis Microservices, will enable us to customize our products, scale quickly to meet our ever-expanding customer needs, and continue to drive innovation in the retail space.
Infosys also leverages NVIDIA workflows to develop cutting-edge loss prevention systems that enable solutions to be deployed faster and scaled across stores and product lines.
NVIDIA Retail Solution
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