REAL-TIME LOSS PREVENTION
Thanks to 5G’s capacity and flexibility, you can scale theft-monitoring solutions and better protect revenue.
The theft of merchandise, equipment, and supplies is a costly problem for businesses across industries. When this happens, construction projects may be stalled, manufacturing production lines halted, or cargo shipments delayed or lost.
Inventory loss is the scourge of retailers large and small. Known as “shrink,” it comes in many forms, including shoplifting, employee theft, and losses from inadequate inventory controls.1 Making matters worse in retail is the rise of organized looting.
“Inventory shrink is a challenge for retailers. 5G-enabled computer vision enhances the customer experience while combating losses and improving margins and productivity.”
With near-real-time AI alerts, computer vision allows your business to better protect inventory and equipment. And of course, avoiding shrink or loss has a positive impact on margins and profits.
Computer vision provides always-on visibility as security teams monitor a store, plant, or job site. Video from hundreds of cameras, processed by AI algorithms, lets your team take action promptly.
You can respond more quickly to a single incident and implement longer-term security changes based on observed patterns. Greater vigilance discourages bad actors from targeting your business.
Strategically located cameras, whether inconspicuously placed or mounted in plain sight, can detect or deter theft.
Video cameras transmit footage over 5G to an on-premises edge or network edge server for analysis in near-real time.
AI running in the computing environment provides constant monitoring. It can identify a security risk and send an alert to the manager’s dashboard so they can quickly take action.
Tools and equipment are frequently stolen in the construction industry. Deterring theft with 5G-connected solutions like computer vision can help minimize costly losses and delays.
Production line theft is a costly issue. With 24x7 monitoring, businesses can significantly improve loss protection compared to relying solely on security personnel.
Medications getting “diverted” from intended use is a big problem in healthcare. One study found that advanced analytics detected drug diversions 160 days earlier than other measures.3
Over $223 million in cargo was stolen in 2022.4 Connected cameras help security constantly track cargo from the moment it arrives until it’s shipped to its next destination.
No industry is immune from theft, fraud, or damage. The global market for video analytics is expected to mushroom from $6.35 billion in 2022 to $28.4 billion by 2029, driven in part by a need to prevent losses.5 With 5G-connected cameras providing automated, always-on monitoring, your business can protect not only its physical assets, but also its bottom line.
One big-box retailer has mounted smart cameras, connected by 5G, inside its massive stores. In a research interview with us, a VP with the retailer recounted how their organization implemented this solution. Computer vision allows them to see when someone picks up a high-ticket item and issues an alert if it appears that person is moving toward an exit without paying. That won’t stop all losses, but store managers can at least thwart theft of their priciest merchandise. “The biggest benefit is the analytical reporting that gives us a lot more granular details,” said the VP.
In addition to using them for loss prevention, those detailed analytics provide insights into store activity that businesses can use in other ways. “We can better serve our customers based on their needs and the things they like from our stores,” said the retail executive.
In another example, a VP in healthcare explained how their company uses 5G-enabled computer vision to fight loss and theft of expensive medical devices. If someone unplugs a device or moves it without authorization, an alert goes out.
And an IT director in education said 5G-enabled computer vision has become a differentiator for their organization. Before deploying the new system, the security video was “so grainy you could barely see the person at all.” Now, with high-definition 4K video and 5G’s bandwidth, video analytics can identify anyone who approaches one of its buildings after hours. Floodlights snap on, and security is notified. The system automatically alerts police if an intruder lingers in the area for too long.
“It’s a great solution that’s very easy to deploy,” the IT director said. “It’s been very reliable and cost effective.”
“Comparing 4G to 5G, we see an almost 85% increase in productivity and visibility. Our stores are able to do a lot more with analytical reporting and camera vision with 5G.”
VP in a retail company
