What Just Happened with Benoit Koenig of Veesion

In this conversation on "What Just Happened," Christine Russo welcomes Benoit Koenig from Veesion, a company using AI to combat retail theft. Benoit discusses the urgent need to address the rising issue of retail shrinkage due to factors like inflation and increasing theft. He highlights the limitations of traditional security measures like security agents, cameras, and RFID tags, emphasizing that these methods haven't effectively curbed shrinkage. He distinguishes between shrinkage and organized retail crime, noting that Vision's AI technology focuses on gesture analysis using deep learning, specifically targeting shoplifting behaviors. Benoit explains that the technology can detect suspicious gestures associated with shoplifting and alerts store personnel in real time, enhancing the response to potential theft incidents. He also mentions their upcoming shift towards generative AI to further improve detection and generate training data more efficiently.

The conversation delves into the practical implications of Vision's technology for retailers. Benoit explains that the AI system provides insights about sensitive areas, days, and times prone to shoplifting, helping retailers tailor their security measures and operational strategies. He shares examples of how their technology has already helped retailers reduce shrinkage by identifying internal theft as well as client theft. The discussion touches on the competitive landscape in AI for retail and the potential of generative AI to revolutionize data-driven decision-making by providing detailed insights into customer interactions with products in physical stores. Overall, the conversation highlights Vision's innovative approach to tackling retail theft and the transformative potential of AI in the retail industry.