US retail giant Walmart has revealed that it is using a Cork-based artificial technology firm to help it spot thieves and scanning errors, it has been reported.
According to the Irish Independent, the retailer, who also owns Asda in the UK, revealed that it has been working with Everseen, among other companies, to supply some 1000 stores with loss-prevention software over the last two years.
Everseen was set up in 2008 by the son of a Cork shopkeeper looking to solve the issue of point-of-sale shrinkage - the term used to cover lost revenue from theft and scanning errors.
Alan O’Herlihy, the founder and CEO of Everseen, had previously confirmed that his software is used by some of the worlds top retailers, but could not confirm who.
The software uses video analytics and AI to give Everseen a ‘digital eye’ which can track almost all non-scans.
Walmart confirmed that its shrink rates have declined since the introduction of the system.
Everseen employes up to 140 people across its headquarters in Cork and its two research centres in Romania and Sebia.
The company also opened a New York City office last year.
© 2019 Checkout – your source for the latest Irish retail news. Article by Aidan O’Sullivan. Click sign-up to subscribe to Checkout.