How iRetailCheck and Hikvision are partnering to help retailers minimize losses at the checkout with Checkout AI
In partnership with Hikvision, iRetailCheck helps retailers minimize losses caused by theft at checkouts and store exits. This is made possible with Hikvision varifocal dome cameras and highly specialized AI algorithms that identify when items are left in shopping carts at the checkout, alerting cashiers of the need to control carts in real time, or when scan avoidance occurs at self-checkouts. Hikvision interviewed Tom Symons, Founder and CEO of iRetailCheck to explore how retailers can reduce losses and improve their net profit.
Q: What is iRetailCheck, what are the origins of the company, and what do you provide for your customers?
A: iRetailCheck started with a retailer request for a solution to prevent theft in shopping carts at the checkout. At that time, we partnered with an AI team with a proven track record in object identification to create our first retail AI solution, “CaddyCheck”. This detects when items are left in shopping carts and alerts cashiers in real time of the need to control the cart.
Since then, we’ve created a number of real-time AI loss prevention solutions. These include SCO-Check (for Self-Checkouts) to detect scan avoidance, and PushOut-Check, which prevents “customers” from taking full shopping carts out of the store without paying.
So far, our Checkout AI solutions have controlled over 350 million transactions and made huge savings for our clients.
Q: What is special or unique about iRetailCheck’s technology solutions and, in particular, what differentiates your AI/ML capabilities in the market?
A: Research shows that 70% of cashiers don’t check carts for unpaid items, and a staggering one-in-three customers don’t scan all their items at self-checkouts. Our solutions tackle these problems head-on with highly advanced Visual AI capabilities which automate the visual control of every transaction with a 95% success rate for detecting unpaid items left in shopping carts and reducing sweethearting. With iRetailCheck, all of this is available from a single partner.
Q: How does Hikvision technology contribute to the solution? What makes Hikvision cameras ideal for hosting iRetailCheck vision AI solutions?
A: To deliver accuracy that results in a precise, reliable and scalable solution, Checkout AI needs a consistent, stable image for the precise analysis of every shopping cart and self-checkout station during the checkout process. We trialled a range of cameras at first, but they didn’t offer the reliability and quality needed for first class results.
With Hikvision cameras, our Checkout AI sees every cart in fine detail as it passes the checkout, which is what we need to deliver optimal results to clients. Specifically, the stable and reliable frame rate of Hikvision cameras means that our algorithms can accurately analyze live streaming video data in every frame.
Q: Which Hikvision cameras support CheckoutAI?
A: For staffed checkouts, the Hikvision varifocal dome cameras are ideal for our needs. Now we’re also trialling other Hikvision models to prevent losses at self-checkout stations, including cameras that can be embedded in SCO stations. I am very impressed that these much smaller, cameras are starting to offer the same resolution and reliability as the dome cameras.
Q: Are you using any other Hikvision technologies to support CheckoutAI?
A: Not for now, but this could change in the near future. For example, we’re currently looking at the benefits of integrating with the HikCentral software platform. This would enable our clients to centralize security solutions in multiple stores at a single security centre, helping them to maximize operating efficiency.
Q: Are there other benefits of partnering with Hikvision besides the fast, reliable cameras?
A: Yes, absolutely! The fact that Hikvision is a trusted brand with a worldwide commercial presence has been a major benefit for us. It has definitely helped us to broaden our geographical reach and eased access to blue chip retailers that were previously more difficult to engage with.
Q: What does the future hold for the iRetailCheck and Hikvision partnership?
A: In a word: innovation. Our retail clients are continually asking for more in terms of loss-prevention functionality, now we’re working with Hikvision to deliver a range of new solutions and capabilities, such as self-checkout and a convenience store solutions, that meet and exceed their needs.
Our technology could also be used to count electric scooters as part of urban mobility schemes, or to identify vehicle identification badges in low-emissions zones, or even dangerous goods vehicles entering tunnels and other sensitive areas.
So, although we’re firmly focused on retail loss prevention, we recognize that the potential applications for our AI are diverse. Working with Hikvision is helping to open these possibilities and we look forward to continuing to work closely with them to explore new markets in the future.
If you'd like to find out more about iRetailCheck and Hikvision solutions for retail loss reduction, visit the TPP Portal, or contact us today.
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