How Video Surveillance and AI Can Transform Retail Operations
We know that Artificial Intelligence is taking over the world of technology. AI is having a remarkable impact, especially on security and surveillance. Surveillance is basically the act of observing a person, place or any activity. The sole aim of surveillance is to collect information for general or specific purposes, based on which, results are deducted. Different measures are taken to improve the system, after this type of analysis. Surveillance has significantly improved the system of security worldwide. It can be categorized into the following: Computer surveillance, biometric surveillance, video surveillance, etc. All these types can implement the principles of Artificial Intelligence. Now, video surveillance can be defined as a system, having a network of cameras and computers, which supervise the activity of a specific area. We’ll cover the relationship between video surveillance and AI, moving forward.
Why is Video Surveillance Important?
Crime rates are increasing day by day. Thousands of cases are reported every day regarding robbery and theft. But how do we track and detect those? Video Surveillance is the most effective way to supervise the situation. Most of the criminals get identified on the security cameras and then are arrested. So, surveillance is indeed a great investment to increase security levels for any industry.
Video Surveillance and Artificial Intelligence
AI is playing a positive role in the video surveillance system. In today’s world, we can see the tremendous use of cameras and recorders for recording videos. The use of AI in it helps in making videos, more than a human can. The specific design of these tools lets the user be insightful about specific events. In video surveillance, it helps to keep the record safe and keep an eye on everything.
Let us see how AI works in retail operations: Artificial Intelligence is growing in retail operations as well. As we can see, people now connect their customers, their inventory, management, staff and other business-related services with AI tools to get work done quickly and efficiently.
For retail operations, technologies come with an opportunity to intelligently display ads, smart shelves, endless aisle kiosks, enhance inventory control, and self-checkout.
Future of Retail Operations with AI
As AI is an emerging technology, it is already taking many enterprises to the next level. Some of the interesting functionalities that AI can perform on retail setup are: Arranging the items in their real location, in case the consumer puts it some other place mistakenly. AI can help in forecasting the item’s value and its volume in the inventory. These tools can also detect customers’ real-time behaviors in the stores, their movements and how and which product they choose.
The most important thing about video surveillance supported by AI is face recognition, which is the detection of a face and recognition of an anonymous identity after inputting an image into a digital system. It makes sure that the identity should be similar to previously recorded data for data verification. The registered data works as biometric verification which helps in determining differences between two faces. AI forms a system that extracts useful information from visual data like videos, images, and other forms of visual inputs into a system known as computer vision. This is used to perceive the surroundings and at the same time, it increases the factor of security. Furthermore, AI uses video annotation which works by detecting objects and their tracking system. It measures autonomous driving, and robotic behavior and also monitors traffic. It tracks human activities and their poses.
3 Ways of Using AI in Retail
It is clear that big enterprises use AI tools for increasing their profit range. For instance, it depicts that AI costs of $5 skyrocketed to $31 billion just between 2021 to 2028.
Here are the 3 ways how AI can transform the retail industry:
The best way you can convert your retail setup to AI is by automating tasks performed by humans. This will increase employee productivity, help them save more time, and effectively provide solutions to customers’ problems. Automation processes can ultimately increase your sales and profit if your customers are happy with your products.
- Reduce Loss Factor
People can reduce the risk of loss through AI tools. For example, self-control technologies can be a major loss factor but AI can help. It can work as a scanning system on video recording devices to determine the theft process. AI tools also help in the alarming staff about any suspicious activity. Some solutions only allow authorized users to check confidential information, protecting the customer’s privacy and preventing financial loss.
- Supply Chain Optimization
Artificial Intelligence tools are a great way for supply chain management in business. They help in figuring out your customers’ previous buying records and recommend new ones based on their preferences. The use of AI tools can be beneficial in terms of determining potential trends in the market throughout the year as well.
The demand for AI tools is increasing day by day in today’s world. It is recommended by many business people as they know the value behind implementing AI tools in their business setup. This can increase your sales, double your profit, and triple your customer service experience. So, it’s better to implement these tools in your retail store today to be amazed by the benefits of AI. By incorporating the right AI tool, you can achieve the best in your industry within months.