NEW YORK, Jan. 11, 2024 (GLOBE NEWSWIRE) — NRF Jacob K. Javits Convention Center, NYC, Booth #507 — Pathr.ai, the industry’s first and only artificial intelligence (AI) powered Spatial Intelligence solution, announced today a powerful loss prevention solution to detect suspicious behavior inside retail stores. The first-of-its-kind, AI-powered loss prevention solution empowers retailers to optimize their loss prevention efforts, protect their bottom line, and improve the customer experience.
“We are seeing increased amounts of retail shrink happening in the industry today, affecting the customer experience and retailers’ profits. Without visibility into their customer behavior, retailers are left blind to preventive opportunities,” said George Shaw, CEO and Founder of Pathr.ai. “Our game-changing Suspicious Behavior Detection product bridges that gap, offering the most sophisticated in-store behavioral recognition ever seen in retail. This exciting new technology is poised to impact the entire retail industry, elevating loss prevention tactics through a data-driven approach leveraging cutting-edge artificial intelligence.”
Retail shrink continues to impact the industry in the United States, representing $112.1 billion in losses in 2022, according to the National Retail Federation. This issue negatively impacts a retailer’s bottom line and affects the customer experience, but leveraging Pathr.ai’s Suspicious Behavior Detection allows retailers to understand behavioral patterns at scale to mitigate losses inside their stores.
Pathr.ai’s Suspicious Behavior Detection product uses existing security camera infrastructure to anonymously capture shoplifting behavior happening inside and outside stores without the need for specialized hardware. The solution offers benefits to retailers by:
- Utilizing a real-time suspicious activity classifier trained for a retailer’s environment
- Scaling Pathr.ai’s Suspicious Behavior classification to every store in a fleet, even locations where there are no loss prevention personnel on-site
- Integrating with existing loss prevention systems, including security camera infrastructure, network video recorders (NVR), and real-time communication systems
Retailers can gain valuable insights through dynamic dashboards, enabling them to formulate data-driven decisions that drive their loss prevention initiatives. In addition, Pathr.ai’s platform offers powerful real-time alerting, empowering loss prevention teams to dramatically amplify their existing monitoring and detection capabilities at scale. Finally, retailers can proactively address loss prevention in their stores and mitigate the increasing impact of shrink affecting the industry.
Pathr.ai is currently working with two Fortune 500 retailers to scale its Suspicious Behavior Detection product.
Pathr.ai’s Suspicious Behavior Detection product complements the company’s existing products for in-store retail analytics. Leveraging existing camera infrastructure, Pathr.ai enables retailers to address loss prevention tactics while driving optimizations in Store Operations, Merchandising, and Marketing. The company has a proven track record in delivering Spatial Intelligence analytics to major global brands and retailers, showcasing its expertise in understanding behavioral patterns that tie into growth opportunities at scale.
“We are collaborating with Pathr.ai to deliver AI to businesses in real time and are showcasing how loss prevention technology is being implemented in today’s market to help retailers reduce in-store losses,” said Nicholas Borsotto, Global Lead for Lenovo AI Innovators. “Our partners are critical to our shared commitment of empowering retailers with innovative, AI-ready solutions that enhance the customer experience and uncover new opportunities for growth.”
The company provides a privacy-centric solution that delivers unbiased data without requiring any personally identifiable information (PII) or demographic information, empowering retailers to achieve positive business outcomes in an unbiased way. Pathr.ai complies with The General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA) privacy regulations.
The solution is available immediately. To learn more, visit https://pathr.ai/products-loss-prevention or visit Booth #507 and the Lenovo Booth #3665 at the show.
About Pathr.ai®
Pathr.ai® is the industry’s first AI-powered spatial intelligence software company that uses anonymous location data from available and existing infrastructure to observe human behavior in any physical space. Its sophisticated technology turns raw behavioral and spatial data from existing sensors into actionable and applied business learnings – allowing companies to drive the business results that matter most to the growth of their companies in real-time. Founded in 2019, Pathr.ai is headquartered in Mountain View, California. To learn more about Pathr.ai, please visit https://pathr.ai/.
Contact:
Nicole O’Keefe, Senior Product Marketing and Operations Manager at Pathr.ai
[email protected]
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