AI and shoplifting: How retailers are fighting shrink to increase profits

In response to the escalating challenge of retail shrink, which rose to over $112 billion in 2022, retailers including Target (TGT), Walgreens (WBA) and Home Depot (HD) are investing in AI-powered technology. The goal? To preserve a good shopping experience while also fighting theft, a problem that’s impacting margins and causing safety concerns. The scope of the theft problem is hard to measure, though mentions of organized retail crime rose by 43% on earnings calls in the first half of 2023. To find clarity on this issue, Yahoo Finance explores a first of its kind, AI-driven heat map that could empower retailers to share real-time crime data with each other, and gets an exclusive look at the Department of Homeland Security’s response to the rise in organized retail crime, which they say is about much more than petty shoplifting. #youtube #shopping #ai About Yahoo Finance: Yahoo Finance provides free stock ticker data, up-to-date news, portfolio management resources, comprehensive mark