International. An Artificial Intelligence system implemented in security cameras that discovers possible thieves before they commit a theft was developed by a Japanese company. The Vaak company uses camera footage to find gestures of nervousness, restlessness or other body language that is considered suspicious.
The system's algorithms analyze images from security cameras and alert staff to potential thieves via a smartphone app. The goal is prevention. They consider that if the target is approached and asked if they need help, there is a chance that the theft will never happen.
Last year, the company's technology helped catch a thief in a store in the city of Yokohama, south of Tokyo, Japan. The firm set up its software in the store on a test basis and detected theft activity, which had not been previously warned. The perpetrator was arrested a few days later.
"Then I thought, 'Oh, finally!'" exclaimed Ryo Tanaka, the 30-year-old founder of Vaak, in an interview with Bloomberg. "We took an important step towards a society where crime can be prevented with AI."
Store theft cost the global retail industry about $34 billion in 2017, making it the biggest source of contraction and loss in the sector, according to a report by Tyco Retail Solutions. While that equates to about 2 percent of revenue, it can make a big difference in an industry known for its very small margins.
The opportunity is enormous. Retail chains are projected to invest $200 billion in new technology, according to Gartner, as they become more open to adopting tools to meet consumer needs and have better financial outcomes.
As a security issue, retailers have asked AI software providers such as Vaak and London's Third Eye not to disclose their use of anti-theft systems in stores.
"We are still discovering the full potential of the market," Tanaka said.
Founded in 2017, Vaak currently conducts tests in dozens of stores in Tokyo. The company began selling a market-ready version of its in-store theft detection software this month, and aims to be in 100,000 stores across Japan in three years.
