Cost of Living Crisis Drives Grocery Chain to Use AI for Shoplifting Detection
Rising Costs and Shoplifting in Grocery Stores
As the cost of living crisis intensifies, grocery chains are feeling the financial pinch. The Co-operative has revealed a 20% increase in costs related to shoplifting in the first half of the year, totaling around £39.5 million.
Impact of the Cost of Living Crisis
In response to rising prices and economic pressures, The Co-operative is launching Project Pegasus, an AI initiative. This project aims to work with retailers and law enforcement to identify and deter shoplifters.
A Deeper Look at Financial Strain
New figures indicate that up to 5.5 million people in the UK have no savings, exacerbating their vulnerability during the cost of living crisis. The urgency for grocery chains to protect their assets is more crucial than ever.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.