US shoplifting 'crisis' drives interest in French AI cameras.

      The Paris-based AI startup Veesion has raised €38 million to support its expansion into the US, where it aims to address the country's shoplifting "epidemic." Veesion's AI-driven computer vision software is designed to detect gestures in surveillance footage, such as a customer placing an item into their pocket. If the AI identifies suspicious behavior, it alerts the store owner or security personnel through an app, providing a recording of the incident. The final determination on whether the action constitutes theft is left to the user.

      The software is housed in a compact unit that connects to a store's existing CCTV system. To ensure privacy, the system only tracks human movements and does not capture identifiable information such as facial features or clothing, according to the company.

      While security cameras are prevalent in retail stores, Veesion's CEO and co-founder, Thibault David, believes they are "entirely ineffective." He explained to TNW that "Cameras in shops are seldom monitored, as they require a human to oversee them."

      Established in 2018, Veesion's AI shoplifting detection system has already been implemented in over 6,000 locations across 25 countries, including France, the UK, Brazil, and now the US, where it seeks further growth.

      In 2022, American retailers reported inventory losses totaling $112 billion (€100 billion), with $40.3 billion (€36 billion) attributable to shoplifting. The UK, which has a population roughly a quarter that of the US, is also facing an uptick in shoplifting incidents, suffering losses of £2.2 billion (€2.5 billion) in 2023, as per a recent survey by the British Retail Consortium (BRC).

      David noted, "Shoplifting is a significant challenge for retail businesses, particularly in the US, which is grappling with a theft crisis." However, detecting the crime is only one aspect; responding to shoplifters poses another challenge. The same BRC survey indicated that violence and abuse against UK shop staff increased by 50% in 2023, with an average of over 2,000 reported incidents daily. In both the UK and the US, efforts to enforce against shoplifters are dwindling.

      As retailers strive to adapt to rising theft rates, some are exploring technological solutions. Although Veesion's AI does not claim to eliminate shoplifting entirely, it could provide store owners with improved tools to identify and respond to such incidents.

      In pursuit of its US growth strategy, Veesion plans to establish an office in Florida, aiming to hire approximately 50 employees. One of its co-founders, Benoît Koenig, will also be relocating permanently to support the company’s expanded operations in the country.

      Looking forward, Veesion hopes to leverage its computer vision technology to identify additional issues within retail environments, such as risks of falling or slipping. The company is also contemplating expansion into other sectors, including manufacturing and healthcare.

      The evolution of AI will be a prominent topic at the TNW Conference, set to take place on June 19-20 in Amsterdam. Tickets for this event are currently available, and you can use the code TNWXMEDIA2025 at checkout for a 30% discount.