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Vsblty pushes live facial recognition capability of retail analytics portfolio

Vsblty pushes live facial recognition capability of retail analytics portfolio
 

Vsblty, a company focused on bringing biometrics to retail, is laying out its business plans for the years 2023 and 2024. The Vancouver-headquartered firm plans to expand the deployment of its retail analytics technology for security and theft prevention with real-time facial recognition.

Vsblty makes digital displays integrated with cameras that detect and classify faces to deliver real-time targeted advertising. The displays are placed in stores and can identify both specific customers and types of customers based on demographics such as age and gender.

Its platform collects anonymized data about customers’ behaviors, providing analytics to businesses on where their products are being purchased and who are their customers in real-time. The company says that the platform has increased sales by over 25 percent.

The company also sells security products that can recognize known offenders with live facial recognition and detect weapons, as well as track and report suspicious behavior in public spaces.

Its platform has been deployed and tested in over 10,000 security cameras in Mexico, with over 3,700 of those cameras installed in the Benito Juarez district of Mexico City. The deployment has resulted in a 48 percent reduction in high-impact crimes such as violent assaults, robberies, and burglaries and an increase in public perceptions of safety in the district, according to the company.

“Our AI-driven approach delivers quantifiable, real-world benefits in both retail environments and for crime prevention,” says CEO of Vsblty Jay Hutton. “With our recent financing, we have the funds, the team, the experience and opportunities to create additional shareholder value as we further deploy systems for our clients through 2023 and 2024.”

Vsblty has pulled in $3.9 million in private placements by November 2022. In March, the company made digital media veteran Luiz Barros its new executive chairman.

The retail industry has been introducing more biometric technology into stores. Aside from customer analytics, facial recognition is also being used to prevent shoplifting despite mounting criticism from civil rights groups and politicians. A recent case study from RecFaces shows that such systems can identify thieves and reduce theft-related losses by 50 percent.

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