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Shoplifting, self-checkout and the limits of AI
A short-lived retail crime wave is a warning about the unintended consequences of automation.
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Many chain stores that reported unexpected jumps in shrinkage had ramped up use of self-checkout and sensors during the pandemic.
PHOTO: BLOOMBERG
Brooke Masters
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The US just suffered through a horrific retail crime wave, or so its big retailers would have us believe.
Starting in late 2022, mentions of theft shot up 80 per cent on earnings calls, according to AlphaSense, and the National Retail Federation warned that “unprecedented” levels of shoplifting had pushed losses to an all-time high of US$112 billion (S$151.3 billion).
