NVIDIA Helps Retail Industry Tackle Its $100 Billion Shrink Problem
NVIDIA News, January 12th, 2023
Developers can quickly build loss-prevention applications using new NVIDIA Retail AI Workflows, built on cloud-native microservices, that include models pretrained on hundreds of products prone to theft.
Share
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.