Sezzle FinTech Tracker October 2023 Banner

Diebold Nixdorf Adds AI Tool to Combat Self-Checkout Shrinkage

Diebold Nixdorf, a provider of retail solutions, is launching a new artificial intelligence (AI)-based checkout solution to combat shrinkage in the retail industry. 

The new Vynamic Smart Vision I Shrink Reduction manages the risk of shrink at self-checkout stations while ensuring positive shopper and employee experiences, the company said in a Thursday (Jan. 18) press release

The solution is designed to be easily implementable and deployable across multiple store locations and geographies, and to enable retailers to address the top causes of shrink without replacing current infrastructure, the release said. 

“Retailers are committed to innovating, but they want to avoid duplication of efforts and costly implementation,” Matt Redwood, vice president of retail technology solutions at Diebold Nixdorf, said in the release. 

Diebold Nixdorf’s newest AI-powered checkout solutions will complement the company’s existing AI-based solutions that reduce friction during fresh produce scanning and age verification for restricted sales, according to the release. 

By integrating these technologies on a single platform, Diebold Nixdorf aims to offer an effective anti-shrink solutions with the ability to scale efficiently, the release said. 

Diebold Nixdorf’s new AI-equipped self-checkouts are equipped to combat the most relevant sources of revenue loss and friction at self-checkouts, per the release. It targets theft, scanning errors and fraudulent barcodes. 

The solutions also autonomously verify age for age-restricted sales, reducing the need for employee intervention, and can identify and differentiate between various fresh produce items, expediting the purchasing process and ensuring accurate pricing of loose, non-barcoded items, the release said. 

“We designed our new AI-powered offerings based on insights we’ve gained deploying millions of POS and thousands of self-checkouts across the major retailers we work with,” Redwood said in the release. 

PYMNTS Intelligence has found that self-service kiosks for speedy checkout have become one of the top five shopping features that merchants perceive their customers want from stores. 

This technology has joined the ranks of mobile apps, QR codes, digital rewards and alternative payment methods on that top-five list. 

Fifty-one percent of customers expect self-service kiosks when they shop, according to “Innovating the Retail Checkout Experience,” a PYMNTS Intelligence and LS Retail collaboration. 

For all PYMNTS AI and retail coverage, subscribe to the daily AI and Retail Newsletters.