When store cameras can do more than just record footage

Retail stores use cameras mainly to keep an eye on what is happening inside their premises. But with AI, cameras can now more than just record footage. Retailers are now using AI to spot problems, check unusual activity and get useful information to manage their stores better. 

Videonetics, an AI-powered video computing and surveillance software company founded in 2008, is helping retailers improve store operations, safety and security, while making better use of their existing camera systems. The company offers solutions that can help businesses identify problems, understand store activity and take action based on information collected through videos. 

Bhardwaj Naik, CEO of Videonetics, said the company offers a complete technology platform rather than a single product. Its solutions cover video management software, video analytics, traffic management, facial recognition and other applications that can work independently or together.  

“We have our own AI models, our own AI pipeline that goes into our software,” said Bhardwaj, adding that the company has around 22 patents, apart from patents held by its founders. 

One of the key features of the platform is that retailers can continue using their existing cameras, provided they meet the required standards. The system can be deployed on-premises, through a hybrid setup or in the cloud, depending on the business's needs. This gives retailers the option to introduce AI-based solutions without replacing their entire infrastructure. 

However, Bhardwaj believes that helping retailers understand the value of AI remains a challenge for them. While some large brands are already familiar with the technology, many businesses are still trying to understand how it can improve their operations and justify the investment. 

According to him, brands often focus on the initial cost rather than the longer-term benefits, which can include preventing losses, improving safety and identifying many operational issues. He believes the industry needs to explain these benefits in simple language and show how the technology can solve real business problems. 

Now, for retailers, the question is whether AI can help solve everyday problems and reduce losses over time. As Bhardwaj pointed out, understanding the long-term benefits, rather than looking only at the initial cost, is important when deciding whether to invest in the technology.