Artificial Intelligence (AI) technology, patented by StopLift Checkout Vision Systems, analyzes and compares security video and POS data to determine what occurs during each transaction at retail and supermarket checkouts, quickly distinguishing between legitimate and fraudulent behavior.
StopLift CEO Malay Kundu says that his scan avoidance technology is being used at manned and self-checkouts at retail stores, supermarkets and specialty stores throughout Australia. Up to one out of five items at the self-checkout are not scanned. Shoppers often leave expensive items in a reusable bag while scanning cheaper items. There are many other ways shoppers avoid scanning their purchases at the self-checkout.
“Scan avoidance and ‘sweethearting’ have traditionally been the Achilles heel for retailers in terms of asset protection, because they leave no data trail,” said Malay Kundu, CEO and founder of StopLift.
The real goal of Artificial Intelligence (AI) in retailing is to uncover hidden gems of revenue multiplication in the data that retailers already possess. The largest treasure trove of such data is a retailer’s video footage, and the second largest source is its POS data. As it turns out, marrying the two data sources has uncovered a potential 20X to 50X revenue multiplier.
Artificial Intelligence technology, patented by StopLift Checkout Vision Systems, analyzes and compares security video and POS data to determine what occurs during each transaction at the retail or supermarket checkout and immediately distinguish between legitimate and fraudulent behavior.
Cashiers are “sweethearting” pumpkins and other items for their friends by not scanning them at the checkout. Malay Kundu of StopLift, whose surveillance technology detects sweethearting, says this theft costs retailers $14 billion annually.
No one wants to sit in a back room watching surveillance videos of the checkout to see if anyone is stealing. And most stores don’t want to pay someone to do it. Security people are looking for thieves in the aisles. Malay Kundu, founder of StopLift Checkout Vision Systems, has technology that detects unscanned items at the checkout, where most of the shrink occurs.
Malay Kundu founded and serves as CEO for StopLift Checkout Vision Systems, which has developed checkout vision software that automatically detects unscanned merchandise at the manned and self-checkouts at supermarkets and retailers around the world. It analyzes regular CCTV video to detect various forms of theft, training error, and operational analytics.