Walmart Using New Tech To Prevent Theft

Walmart is known for its downhome Arkansas roots, but the store is going high-tech in order to fight shoplifting. Walmart is installing new security cameras powered by artificial intelligence to catch shoplifters at 1,000 stores.

The new cameras will also help prevent store losses that aren’t the result of theft, such as scanning errors at self-checkout stations.

“Walmart is making a true investment to ensure the safety of our customers and associates. Over the last three years, the company has invested over half a billion dollars in an effort to prevent, reduce and deter crime in our stores and parking lots,” LeMia Jenkins, a spokesperson for Wal-Mart, told Business Insider. “We are continuously investing in people, programs and technology to keep our stores and communities safe.”

In 2017, retail stores in the United States lost $46.8 billion due to “shrinkage,” or losses due to shoplifting, scanning errors, and waste. This amounted to about 1.3 percent of total sales.

The CEO of Everseen, Walmart’s artificial intelligence company, said most “shrinkage” is unintentional. Customers might forget to scan an item in the bottom of a cart, or an item might scan with the wrong price, Alan O’Herlihy said.

“People make mistakes. In terms of shrinkage, or loss, that’s the main source,” O’Herlihy said.