The global retail industry has a $100 billion problem.
Shrinkage - the loss of goods due to theft, damage and misplacement - significantly crimps retailers' profits.
An estimated 65% of shrinkage is due to theft, according to the National Retail Federation's 2022 Retail Security Survey, conducted in partnership with the Loss Prevention Research Council. And many retailers are reporting theft has more than doubled recently, driven by rising prices of food and other essentials.
To make it easier for developers to quickly build and roll out applications designed to prevent theft, NVIDIA today announced three Retail AI Workflows, built on its Metropolis microservices. They can be used as no-code or low-code building blocks for loss-prevention applications because they come pretrained with images of the most-stolen products as well as software to plug into existing store applications for point-of-sale machines and object and product tracking across entire stores.
Retail theft is growing due to macro-dynamics, and threatens to overwhelm the industry, said Read Hayes, director of the Loss Prevention Research Council. Businesses are now facing the reality that investment in loss-prevention solutions is a critical requirement.
The NVIDIA Retail AI Workflows, which are available through the NVIDIA AI Enterprise software suite, include:
Retail Loss Prevention AI Workflow: The AI models within this workflow come pretrained to recognize hundreds of products most frequently lost to theft - including meat, alcohol and laundry detergent - and to recognize them in the varying sizes and shapes they're offered. With synthetic data generation from NVIDIA Omniverse, retailers and independent software vendors can customize and further train the models to hundreds of thousands of store products. The workflow is based on a state-of-the-art few-shot learning technique developed by NVIDIA Research which, combined with active learning, identifies and captures any new products scanned by customers and sales associates during checkout to ultimately improve model accuracy.
Multi-Camera Tracking AI Workflow: Delivers multi-target, multi-camera (MTMC) capabilities that allow application developers to more easily create systems that track objects across multiple cameras throughout the store. The workflow tracks objects and store associates across cameras and maintains a unique ID for each object. Objects are tracked through visual embeddings or appearance, rather than personal biometric information, to maintain full shopper privacy.
Retail Store Analytics Workflow: Uses computer vision to provide insights for store analytics, such as store traffic trends, counts of customers with shopping baskets, aisle occupancy and more via custom dashboards.
The workflows are built on NVIDIA Metropolis microservices, a low- or no-code way of building AI applications. The microservices provide the building blocks for developing complex AI workflows and allow them to rapidly scale into production-ready AI apps.
Developers can easily customize and extend these AI workflows, including by integrating their own models. The microservices also make it easier to integrate new offerings with legacy systems, such as point-of-sale systems.
NVIDIA's new Retail AI Workflows built on Metropolis microservices allow us to customize our product, scale rapidly to fit our ever-growing customers' needs better and continue to drive innovation in the retail space, said Bobby Chowdary, chief technology officer at Radius.ai.
As part of our applied AI offerings, Infosys is developing state-of-the-art loss prevention systems leveraging NVIDIA's new workflows comprising pretrained models for retail SKU recognition and microservices architecture, said Balakrishna D R, executive vice president and head of AI and Automation at Infosys. It will enable us to deploy these solutions faster and rapidly scale across stores and product lines while also getting much higher levels of accuracy than before.
NVIDIA will unveil additional details of its Retail AI Workflows at the National Retail Federation Conference in New York, Jan. 15-17.
Sign up for early access to the new NVIDIA Retail AI Workflows for developers and learn more in the NVIDIA Technical Blog. Join NVIDIA at #NRF2023.
Most recent headlines
04/08/2024
Dalet, a leading technology and service provider for media-rich organizations, is excited to announce Santiago Solanas as its new Chief Executive Officer (CEO)....
03/06/2024
Dalet, a leading technology and service provider for media-rich organizations, a...
29/04/2024
(L-R) Mark Gatiss and Polly Walker on set
Monday 29 April 2024 Further casting is now confirmed for Bookish (6x70), a brand-new drama created by Emmy Award-wi...
29/04/2024
A groundbreaking initiative offering training and mentoring to 30 women journali...
29/04/2024
Even though we've been doing this for over 40 years, a spark of excitement r...
29/04/2024
L3Harris is delivering manpack radios to U.S. Army CH-47 Chinooks as part of the Air-to-Ground Networking Radio program, providing seamless, resilient communica...
29/04/2024
He writes in Defense One: Despite the near-universal acknowledgement throughout the U.S. government and defense industrial base of the criticality of resilient ...
29/04/2024
eds3_5_jq(document).ready(function($) { $(#eds_sliderM519).chameleonSlider_2_1({ content_source:......
29/04/2024
Codemill aims to revolutionize media workflow efficiency at this years NAB Show by introducing Just-In-Time (JIT) playback technology in Accurate.Video Validate...
29/04/2024
April 29, 2024
-- TF1 Chooses Broadpeak to Power Targeted Advertising for New...
29/04/2024
LOS ANGELES Allen Media Group (AMG) has partnered with LG Electronics to bring 223 Local Now FAST channels to LG's free streaming service, LG Channels, avai...
29/04/2024
OTTAWA Ross Video has announced the introduction of Raiden, a data-driven weather graphics software that combines data gathering, processing, and visualization ...
29/04/2024
Panalux, a leading rental provider of lighting and power solutions for the motion-picture industry and part of Panavision's end-to-end service offerings for...
29/04/2024
Cobalt Iron Inc., a leading provider of SaaS-based enterprise data protection, today announced that it has received a patent on its technology for dynamic autho...
29/04/2024
SDVI, the leading platform provider for cloud-native media supply chains, today announced that Rally Access Workstation, a fully managed solution for editing in...
29/04/2024
Premier Sports, a premium sports broadcaster, has selected QuickLink's Remote Commentary solution for introducing professional, high-quality remote commenta...
29/04/2024
Glookast has chosen Jigsaw24 Media as the only UK channel partner to represent their portfolio of ingest and workflow optimisation products. The agreement, sign...
29/04/2024
Clear-Com played a pivotal role in the seamless coverage of the recent solar eclipse on April 8, 2024. Leveraging its cutting-edge Eclipse HX Digital Matrix i...
29/04/2024
PlayBox Neo will promote its complete range of television channel management, graphic branding and playout solutions to EMEA region media content owners and bro...
29/04/2024
Lingo, RuPaul's word-twisting game show, returns for season two on CBS Friday, May 24. Two episodes air that night, and stream on Paramount Plus, too....
29/04/2024
ESPN and Amazon Prime Video are reportedly close to scoring television rights to the National Basketball Association, according to published reports....
29/04/2024
Judge Judy and Hot Bench, CBS Media Ventures' genre-leading court shows, have been renewed through the 2025-26 TV season in more than 95% of the country, Gr...
29/04/2024
Premier Sports, an Irish-based premium sports broadcaster, has selected QuickLink's Remote Commentary solution for introducing professional, high-quality re...
29/04/2024
The awards celebrate the craft of behind-the-scenes TV talent and the best programmes of 2023
By Matthew Corrigan
Published: April 29, 2024
The awards cel...
29/04/2024
The team at Milk had to create and deliver the VFX and environment work for the royal residences featured in the drama from scratch
By Jenny Priestley
Publis...
29/04/2024
CEO Bob Bakish is expected to leave the company as early as today, with a new leadership committee likely to run the company on an interim basis
By Jenny Pries...
29/04/2024
Albena Ivanova, director, media and entertainment and strategic products at CHAOS talks to TVBEurope about her route into the industry
By TVBEurope Staff
Pub...
29/04/2024
The acquisition gives Grand Technix the opportunity to expand its footprint in the audio visual and broadcast technology sectors
By Jenny Priestley
Published...
29/04/2024
29 04 2024 - Media release Screen Australia announces James J. Robinson's debut feature First Light
First Light
Principal Photography is underway on Firs...
29/04/2024
Capitol Broadcasting recently became the inaugural company honored with inductio...
29/04/2024
April 29th, 2024 UNINTERRUPTED AND TRIBECA ENTERPRISES PARTNER FOR SECOND-ANNUA...
29/04/2024
Rebrand and refresh: SailGP talks bringing its graphics operations inhouse for a...
29/04/2024
Reflecting on a Storied Career: Sean McManus Looks Back While Keeping an Eye on ...
29/04/2024
Drones Take Flight Inside MSG: How Sky Candy Studios is Upping the Excitement fo...
29/04/2024
Back to All News
Netflix Announces a Diverse Lineup of Polish Titles to Debut i...
29/04/2024
Tonight on Smoke and Mirrors: Fanyana feels embarrassed about his sexual mishapDon't miss Monday, 29 April's riveting episode of South African soapie Sm...
29/04/2024
Talk about commitment. When startup SEA.AI, an NVIDIA Metropolis partner, set out to create a system that would use AI to scan the seas to enhance maritime safe...
28/04/2024
Mediahaus delivers the first SRT live-streaming sports production over 5G with U...
27/04/2024
On April 26, L3Harris Chair and CEO Christopher E. Kubasik joined CNBC's Mor...
27/04/2024
PORTLAND, Oregon Audinate Group Limited, the developer of the Dante AV-over-IP solution, announced significant new additions to Dante Connect, its cloud-based D...
27/04/2024
TORONTO Bell Media has launched 10 English and French-language FAST channels featuring entertainment, factual, news, and sports programming. The new free stream...
27/04/2024
An extensive new analysis of the news segments in the broadcast evening news programs of ABC, CBS, NBC and PBS has found that broadcasters devoted most of their...
27/04/2024
GERMANTOWN, Md. EchoStar's Hughes Network Systems has opened a new manufacturing facility and private 5G incubation center in Germantown, Maryland....
27/04/2024
Harry Pappas, one of three brothers who founded Pappas Telecasting Companies in 1971, died April 24. He was 78 years old....
27/04/2024
ATLANTA and LONDON Mexican telecommunications and broadcast company Televisa has selected Synamedia for an overhaul of its broadcast distribution....
27/04/2024
Participate in the Survey - The Impact of AI on Media and the Creative Industry
Pascal Wagner April 26, 2024
0 Comments
By participating in this surve...
27/04/2024
SDVI Rally Access Workstation Earns Two Top Awards at 2024 NAB Show
Brie Clayton April 26, 2024
0 Comments
SDVI, the leading platform provider for clo...
27/04/2024
Berklee's Music and Health Institute Launches Community Health Musician Cert...
27/04/2024
Charter Communications reported higher first-quarter profits despite continued cord-cutting and competition for broadband customers....
The global retail industry has a $100 billion problem.
