A software company has developed a revolutionary new artificial intelligence technology that will assist retail loss prevention specialists in effectively processing and analyzing enormous transaction data sets. Appriss Retail, a major provider of data analytics solutions, has introduced SecureGPT, an improvement to its Secure exception-based reporting platform. This generative AI-powered solution is poised to revolutionize how retail personnel approach loss prevention concerns by making data analysis faster.
SecureGPT is designed exclusively for the loss prevention industry and serves as a “co-pilot” for users. It employs a conversational interface, allowing users to communicate with the tool via plain language queries. It eliminates the requirement for technical knowledge. This tool enables loss prevention teams to swiftly extract meaningful insights from massive amounts of transaction data. Hence enhancing productivity and decision-making. The application also includes features such as stored searches, data filtering, and automatic SQL query generation, which help to streamline the case development process.
A Game-Changer for Retail Loss Prevention with AI-Driven data analysis
According to Vishal Patel, Chief Technology Officer at Appriss Retail, the release of SecureGPT represents a significant advancement in retail AI technology. He emphasizes the increasing complexity of retail data. Which includes a variety of purchasing, returning, and fulfillment techniques across many platforms. SecureGPT reduces this complexity, allowing loss prevention teams to make more timely, data-driven decisions, thus increasing operational efficiency and giving actual value.
SecureGPT employs a retail-optimized large language model (LLM), which is intended to make complex retail data more accessible. This feature is intended to stimulate wider adoption and provide meaningful returns on investment for retailers facing security challenges. The technology is scheduled to be delivered as a free update to Appriss Retail’s Secure platform in 2025.
This launch builds on Appriss Retail’s previous success with Incident + ORC Intelligence, a generative AI tool that organizes and connects incidents of organized retail crime. SecureGPT expands on this foundation by providing faster and more accessible data analysis capabilities to loss prevention teams.
Retail inventory shrinkage, caused by shoplifting, employee theft, and administrative errors, continues to cost retailers billions of dollars worldwide. SecureGPT’s AI-powered enhancements aim to significantly reduce these losses by giving loss prevention specialists the tools they need to act quickly and accurately.
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