Everseen and NVIDIA create seamless shopping experience that benefits the bottom line

Shrinkage, or inventory loss, is a major problem that large retailers and grocers deal with every day. According to the National Retail Federation (NRF), the retail industry is losing more than $61 billion a year in North America alone. And it’s only getting worse—more than 23 percent of retailers have seen their shrink rate increase from 1.8 to 2 percent. So, if you have a $20 billion grocery retailer, with the industry shrink rate average, the company’s US business would have lost more than $4 billion a year to theft and other related losses.

Everseen’s proprietary visual AI solution running on Microsoft Azure and utilizing NVIDIA technology can see and correct business process in real time, helping retailers to reduce shrinkage in real time, increase sales throughput, and optimize operations in distribution centers.

“Everseen actually provides software in the form of artificial intelligence and computer vision. We analyze video of what is happening, see if the problem is substantial, then implement our artificial intelligence and computer vision to solve that problem.”

Rafael Alegre, Chief Operating Officer, Everseen

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The future is not only about seeing it all but also about bringing it all together from markedly reducing shrinkage to AI-powered mobile shopping. With NVIDIA’s innovation and Everseen’s endless opportunities together on the Azure platform, the future looks bright for retail.

“We’ve worked together with Microsoft and Everseen to provide a seamless solution for our joint customers. Everseen’s AI applications prevent shrinkage in the stores and run seamlessly on NVIDIA GPUs through Azure or at the edge in the stores.”

Azita Martin, Vice President & GM Artificial Intelligence for Retail, CPG, & QSR, NVIDIA