Veesion, a Paris-based AI startup, has developed a gesture recognition algorithm aimed at predicting and preventing shoplifting incidents in retail stores.

This innovative system not only helps prevent theft but also reduces the need for additional surveillance staff, making it a cost-effective solution for retailers operating on tight margins.

Unlike traditional security methods that can disrupt the shopping experience, Veesion's technology integrates seamlessly with existing surveillance systems without compromising the shopping environment.

The implementation of Veesion's technology can automate the surveillance process, potentially decreasing staffing needs.

A US client reported a remarkable 50% reduction in losses from shoplifting in their health and beauty section within just three months of using Veesion's technology.

Over 85% of alerts generated by the Veesion system are considered relevant by store operators, enabling security personnel to respond promptly to suspected thefts.

Veesion is also exploring additional applications for its technology, including detecting improper scans at self-checkout and identifying slip-and-fall incidents.

Benoit Koenig, co-founder of Veesion, highlighted that the technology not only aids in recovering stolen inventory but also serves as a deterrent against future theft.

The AI system operates without using biometrics or storing personal data, focusing solely on the movement patterns of shoppers to ensure privacy.

Currently, Veesion's technology is deployed in over 5,000 stores across Europe, Canada, and the US, following a successful Series B funding round that raised $43 million for further expansion.

Founded in 2018, Veesion aims to enhance traditional surveillance systems that often leave CCTV footage unwatched due to resource limitations.

The technology analyzes live security footage to monitor shopper gestures and interactions, ensuring privacy protection while flagging potentially suspicious movements.