Use Cases

AI Security

AI Security
One of the biggest challenges that major national retailers such as Walmart have to deal with is ‘shrinkage’ due to theft. Every year around 1.3% of retail revenues in the US is reportedly lost due to this common form of fraud, representing a total loss of $47 billion according to the National Retail Federation.

To combat this common fraud from occurring during checkout, many companies have adopted computer vision technology and AI to identify when store items are moved past the scanner without being scanned. This proprietary technology has been implemented in more than 1,000 stores across the country, and can monitor both self checkout kiosks and traditional registers managed by human cashiers.

By using surveillance cameras to track and analyze potential issues, the technology alerts checkout attendance in real-time so that they can intervene and stop the theft from occurring.

 


Credit Card Fraud Detection

Credit Card Fraud Detection
Global transaction losses in the United States due to credit card fraud topped $25 billion in 2019. Due to this dramatic rise, financial service companies such as VISA are using AI and Machine Learning to detect and flag transactions in real time that do not match a cardholder’s profile and spending patterns.

With this technology they pioneered the use of neural networks modeled after the human brain to power its AI platform and identify possible fraud, looking at activities, patterns and over 500 risk attributes in less than a millisecond. Financial institutions can now use integrated predictive analytics to identify and prevent fraud with real-time authorization.


References:

https://www.chargedretail.co.uk/2019/06/21/walmart-using-ai-powered-cameras-to-tackle-checkout-fraud/
https://www.theverge.com/2019/6/20/18693324/walmart-ai-camera-computer-vision-tracking-theft
https://usa.visa.com/about-visa/newsroom/press-releases.releaseId.16421.html
https://ourcodeworld.com/articles/read/1150/credit-card-fraud-detection-with-ai-and-machine-learning