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Posted 9/25/2023, 11:00:00 AM

Retail Theft Surges During Pandemic as Stores Turn to AI and Facial Recognition, Raising Privacy Concerns

Retail theft has skyrocketed since the pandemic, with merchants expecting $100 billion in losses this year.
AI and smart surveillance systems are being rapidly adopted by retailers to detect shoplifting and employee theft in real time.
Facial recognition allows retailers to identify and track past offenders when they enter stores.
While AI helps combat theft, privacy concerns arise from increased surveillance of customers and employees.
Illinois' Biometric Information Privacy Act regulates use of facial recognition and other biometric data, which should serve as a model for other states.

chicagotribune.com

Relevant topic timeline:

8/16/2023

Expert Insights: AI in Cybersecurity: Enhancing Defense Mechanisms and Regulations Amid Evolving Threats

Main topic: The role of artificial intelligence (AI) in cybersecurity and the need for regulation. Key points: 1. AI-powered cybersecurity tools automate tasks, enhance threat detection, and improve defense mechanisms. 2. AI brings advantages such as rapid analysis of data and continuous learning and adaptation. 3. Challenges include potential vulnerabilities, privacy concerns, ethical considerations, and regulatory compliance. Note: While there are seven questions in the provided text, it is not possible to limit the key points to just three within the given context.

8/20/2023

How AI Can Revolutionize Our Broken Supply Chain

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8/25/2023

AI not just a buzzword, startups must use it to build businesses: Lenskart CEO Peyush Bansal

Artificial intelligence should be used to build businesses rather than being just a buzzword in investor pitches, according to Peyush Bansal, CEO of Lenskart, who cited how the company used AI to predict revenue and make informed decisions about store locations.

8/26/2023

5 Ways People Are Getting Rich Using AI

Artificial intelligence (AI) is revolutionizing industries and creating opportunities for individuals to accumulate wealth by connecting businesses to people, streamlining tasks, improving selling strategies, enabling financial forecasting, and assisting in real estate investing.

8/28/2023

How PayPal is using AI to combat fraud, and make it easier to pay

PayPal is integrating artificial intelligence (AI) into its operations, including using AI to detect fraud patterns and launching new AI-based products, while also acknowledging the challenges and costs associated with AI implementation.

8/29/2023

Protecting Society From AI Harms: Amnesty International’s Matt Mahmoudi and Damini Satija (Part 1)

Artificial intelligence (AI) tools can put human rights at risk, as highlighted by researchers from Amnesty International on the Me, Myself, and AI podcast, who discuss scenarios in which AI is used to track activists and make automated decisions that can lead to discrimination and inequality, emphasizing the need for human intervention and changes in public policy to address these issues.

9/1/2023

Could AI be the spark that ends the opioid epidemic?

Artificial intelligence (AI) is being explored as a potential solution to end the opioid epidemic, with innovations ranging from identifying at-risk individuals to detecting drug contamination and reducing overdoses, but concerns about discrimination and misinformation must be addressed.

9/2/2023

Thursday, September 7: Artificial Intelligence

"Generative" AI is being explored in various fields such as healthcare and art, but there are concerns regarding privacy and theft that need to be addressed.

9/5/2023

'A gift to scammers': Thieves are using artificial intelligence to develop new scams, improve old ones

The evolving tools of artificial intelligence are providing scammers new ways to carry out fraud, such as using AI-powered voice-cloning technology to convince victims of emergencies and sophisticated phishing schemes with convincing language, making it crucial for consumers to take precautions and verify unsolicited contacts.

9/5/2023

How Artificial Intelligence Can Transform Financial System

Artificial intelligence has the potential to transform the financial system by improving access to financial services and reducing risk, according to Google CEO Thomas Kurian. He suggests leveraging technology to reach customers with personalized offers, create hyper-personalized customer interfaces, and develop anti-money laundering platforms.

9/11/2023

FTC: Entrepreneurs Allegedly Defrauded Clients of $22M With Bogus AI Business Claims

Three entrepreneurs used claims of artificial intelligence to defraud clients of millions of dollars for their online retail businesses, according to the Federal Trade Commission.

9/12/2023

SEC Confirms Use of AI Technology for Financial Market Surveillance

The US Securities and Exchange Commission (SEC) is utilizing artificial intelligence (AI) technologies to monitor the financial sector for fraud and manipulation, according to SEC Chair Gary Gensler.

9/12/2023

Small Businesses Eager to Adopt AI, But Wary of Keeping Pace with Tech and Cyber Threats: Visa Study

Small and medium businesses are open to using AI tools to enhance competitiveness, but have concerns about keeping up with evolving technology and fraud risks, according to a study by Visa.

9/13/2023

How AI is Transforming Fraud Detection and Cybersecurity in Banking

Financial institutions are using AI to combat cyberattacks, utilizing tools like language data models, deep learning AI, generative AI, and improved communication systems to detect fraud, validate data, defend against incursions, and enhance customer protection.

9/13/2023

Cramer: AI to Drive Profitability Through Efficiency Gains, Not Excitement

Artificial intelligence (AI) will be highly beneficial for executives aiming to save money in various sectors such as banking, insurance, and healthcare, as it enables efficient operations, more accurate data usage, and improved decision-making.

9/13/2023

Real Estate Turns to AI to Streamline Search and Sales, But Experts Urge Caution with Emerging Technology

Artificial intelligence (AI) is transforming the real estate industry, providing convenience and improved accuracy in home buying and selling through various applications and algorithms; however, industry leaders emphasize the need for vigilance and oversight to avoid potential inaccuracies and misinformation.

9/14/2023

DHS Unveils New Guidelines for Responsible and Transparent Use of AI Technology

The U.S. Department of Homeland Security is set to announce new limits on its use of artificial intelligence (AI) technology, aiming to ensure responsible and effective use while safeguarding privacy, civil rights, and civil liberties. The agency plans to adopt AI in various missions, including border control and supply chain security, but acknowledges the potential for unintended harm and the need for transparency. The new policy will allow Americans to decline the use of facial recognition technology and require manual review of AI-generated facial recognition matches for accuracy.

9/18/2023

Restaurants Turn to AI to Boost Efficiency and Enhance Customer Experience

The restaurant industry is increasingly incorporating artificial intelligence (AI) to reduce costs, enhance productivity, and improve customer experience.

9/18/2023

FBI Warns of Growing Threat from Criminals and Adversaries Exploiting AI While U.S. Struggles With Ethical Use

Adversaries and criminal groups are exploiting artificial intelligence (AI) technology to carry out malicious activities, according to FBI Director Christopher Wray, who warned that while AI can automate tasks for law-abiding citizens, it also enables the creation of deepfakes and malicious code, posing a threat to US citizens. The FBI is working to identify and track those misusing AI, but is cautious about using it themselves. Other US security agencies, however, are already utilizing AI to combat various threats, while concerns about China's use of AI for misinformation and propaganda are growing.

9/22/2023

UPS Leverages AI to Combat Package Theft with New Delivery Confidence Scores

UPS is using artificial intelligence (AI) to prevent package theft and help consumers receive their orders by generating a delivery risk assessment and recommending alternative delivery options based on historical data and address characteristics.

9/23/2023

AI Bots and Deepfakes Increasingly Used for Scams and Fraud

Criminals are increasingly using artificial intelligence, including deepfakes and voice cloning, to carry out scams and deceive people online, posing a significant threat to online security.

9/25/2023

CFPB Cautions Lenders Against Using AI to Skirt Credit Denial Explanations

The Consumer Financial Protection Bureau (CFPB) has warned that artificial intelligence (AI) cannot be used by creditors as an exemption to deny consumers credit without providing specific reasons, as regulators grapple with the intersection of AI and regulation. The CFPB issued new guidance on the use of AI and other modeling in credit decisions, emphasizing the need for transparency and protection against discrimination.

9/25/2023

AI's Dark Side: How Data Collection and Surveillance Fuel Inequity

AI and big data are closely linked to the surveillance business model, used by companies like Google and Meta, to make determinations and predictions about users, shaping their access to opportunities and resources, according to Signal president Meredith Whittaker. She also highlighted the exploitation of human labor in creating AI systems and the potential negative implications of facial recognition technology.

9/27/2023

AI Transforms Grocery Shopping Experience Through Data Insights and Personalization

Artificial intelligence is rapidly being adopted in the grocery industry, with the potential to transform shopping experiences, personalize marketing, and optimize decision-making for retailers.

9/27/2023

AI Bots Provide Some Value to Crypto Trading But Still Lack Sophistication for Complex Strategies

Artificial intelligence (AI) is bringing value to the crypto industry in areas such as trading, data analytics, and user experience, although there are limitations in the sophistication of AI-powered bots and the availability of off-chain market data.

9/28/2023

Booker leads panel on dangers of biased AI, calls for 'AI Bill of Rights'

Artificial intelligence (AI) has the power to perpetuate discrimination, but experts also believe that AI can be leveraged to counter these issues by eliminating racial biases in the construction of AI systems. Legislative protections, such as an AI Bill of Rights and the Algorithmic Accountability Act of 2023, are being proposed to address the impact of AI systems on civil rights.

9/29/2023

AI Fuels Rise of Sophisticated Social Security Scams - How to Protect Yourself

AI-driven fraud is increasing, with thieves using artificial intelligence to target Social Security recipients, and many beneficiaries are not aware of these scams; however, there are guidelines to protect personal information and stay safe from these AI scams.

9/26/2023

Sextortion of Teens Using AI-Generated Fake Images On the Rise

Artificial intelligence is now being used in extortion cases involving teens, making an already dangerous situation even worse. It is crucial for both teens and parents to remain vigilant and have open conversations about the dangers of online activities.

10/2/2023

JPMorgan Leads Wall Street's Massive AI Investment, Seeing It Soon 'Everywhere'

Artificial intelligence (AI) is becoming increasingly prevalent in various industries, including banking, as companies like JPMorgan Chase invest billions of dollars in technology and AI initiatives to improve decision-making and enhance customer experiences, making AI a crucial tool for future success in the business world.

10/6/2023

AI Disrupters: How Symbotic, CrowdStrike, and Palantir Are Transforming Industries With Artificial Intelligence

Artificial intelligence (AI) leaders, Symbotic, CrowdStrike, and Palantir Technologies, are well-positioned to capitalize on the AI gold rush and deliver significant returns to their investors. Symbotic aims to automate warehouse operations, CrowdStrike specializes in cloud cybersecurity, and Palantir Technologies provides machine-learning solutions for generative AI applications.

10/6/2023

AI Fuels Rise in Sophisticated Cybercrime

Artificial Intelligence is being misused by cybercriminals to create scam emails, text messages, and malicious code, making cybercrime more scalable and profitable. However, the current level of AI technology is not yet advanced enough to be widely used for deepfake scams, although there is a potential future threat. In the meantime, individuals should remain skeptical of suspicious messages and avoid rushing to provide personal information or send money. AI can also be used by the "good guys" to develop software that detects and blocks potential fraud.

10/9/2023

AI Set to Revolutionize Fintech Compliance by Automating Decisions and Boosting Efficiency

AI has become a game-changer for fintech firms, helping them automate compliance decisions, mitigate financial crime, and improve risk management, while also emphasizing the importance of human involvement and ensuring safety.

10/11/2023

AI Advances Fuel Rise in Synthetic Identity Fraud Targeting Banks and Consumers

The prevalence of online fraud, particularly synthetic fraud, is expected to increase due to the rise of artificial intelligence, which enables scammers to impersonate others and steal money at a larger scale using generative AI tools. Financial institutions and experts are concerned about the ability of security and identity detection technology to keep up with these fraudulent activities.

10/12/2023

AI Tech Aims to Cut Retail Theft and Speed Checkout

Toshiba Global Commerce is developing AI technology to combat retail theft and improve the checkout process, aiming to reduce losses for stores and ultimately lower prices for consumers. The technology uses AI to identify scanned products and detect potential theft, providing video evidence to deter shoplifters. Retailers lost $112.1 billion last year due to theft, and Toshiba aims to address this issue by leveraging AI and innovative solutions.

10/17/2023

AI Adoption Offers Revenue Opportunities for Middle East Amid Accelerated Digital Transformation

Artificial intelligence is becoming a key driver of revenue for businesses, particularly in the Middle East, as companies invest heavily in data collection and capitalizing on it, with the potential for the region to benefit from a $320 billion economic impact by 2030.

10/20/2023

Domino's Partners with Microsoft to Bring AI to Restaurants, Improving Operations and Customer Experience

Artificial intelligence (AI) is revolutionizing the restaurant industry by streamlining operations, improving customer experience, and optimizing resource utilization, although it is not intended to replace human workers entirely.

10/21/2023

Beware of AI-Powered Crypto Scams Trying to Steal Your Wallet - How to Keep Your Assets Safe

Cryptocurrency scammers are now using Artificial Intelligence (AI) to steal cryptocurrencies, and investors need to be cautious and take necessary measures to protect themselves and their investments. Scammers commonly rely on social engineering and trick users into revealing their private keys or wallet addresses. Warning signs of cryptocurrency scams include the absence of a whitepaper, lack of relevant background information on the cryptocurrency, and promises of guaranteed returns. To protect your crypto wallet, use a secure and encrypted wallet, avoid sharing your wallet address, and enable two-factor authentication. Additionally, offline crypto storage is considered the safest option. AI can also be used to detect and prevent hacking attempts in the cryptocurrency space.