Disseminated on behalf of Knightscope, Inc.

Harnessing Robots and Security Cameras to Combat the Surge in Shoplifting

image1 2 Harnessing Robots and Security Cameras to Combat the Surge in Shoplifting

New York Police recently shared a grim statistic – shoplifting in New York City has surged by an alarming 45%. 

Among the victims was drugstore giant Rite Aid, which lost a whopping $5 million in revenue, highlighting a nationwide problem that cost retailers a staggering $100 billion in 2021. 

When it comes to combating this crisis, the NYPD is turning to robotic solutions to add an extra layer of protection to the CCTV cameras most retailers already have in place.

Imagine a city-wide robotic platform designed to identify repeat shoplifters and alert stores when they enter. A system that can discreetly monitor customers’ hand movements, instantly notifying security when suspicious, rapid swiping motions occur, a hallmark of shoplifters.

Advanced AI-powered security cameras and autonomous security robots are already being utilized in an effort to get New York City back on its feet post-CV19 by enhancing retailers’ ability to catch shoplifters in their tracks. 

Among the tech companies gaining traction in New York is Knightscope, Inc. (NASDAQ:KSCP), a leading developer of autonomous security robots (ASRs) and blue light emergency communication systems. 

Founded in 2013, Knightscope embodies the convergence of autonomy, robotics, artificial intelligence, and electric vehicle technology. 

Bolstering New York’s Crime Prevention Efforts With Autonomous Security Robots

On September 22, Knightscope, Inc. (NASDAQ:KSCP) announced that the NYPD and the Metropolitan Transportation Authority (MTA) have officially launched a pilot test of its K5 security robots in Manhattan’s subway stations. These autonomous robots will be trained for two weeks to navigate the subway’s unique landscape before beginning their patrol duties from midnight to 6 am.

NYC Mayor Eric Adams proudly announced this innovative move, emphasizing that technology plays a pivotal role in ensuring the safety of New Yorkers. 

“The NYPD must be on the forefront of technology and be 2 steps ahead of those utilizing technology to hurt New Yorkers,” Adams explained.

He highlighted the robots’ efficiency, noting they operate “below minimum wage” with continuous service, requiring no breaks.

Knightscope‘s robots have already made a name for themselves, with police departments, including those in Los Angeles County, lauding the robots’ effectiveness in reducing crime in public areas. The deployment of these ASRs is not just a leap in tech-savvy policing but also a cost-effective solution that addresses the nationwide decline in law enforcement personnel.

Besides being a testament to modern policing’s potential, these robots are designed to be user-friendly, engaging, and respectful of privacy.

“Today we take that notion of tried-and-true policing of assigning a transit cop to their post, and we bring that to a different level,” said NYPD Transit Chief Michael Kemper. “It’s fitting that we’re near the theater district, because today the K5 is taking center stage. Welcome to New York City, K5!” 

The introduction of Knightscope‘s K5 in transit systems is crucial for boosting the public’s confidence in urban transportation, especially with the NYC Transit president, Richard Davey, highlighting the current week’s potential record ridership post-pandemic. Davey expressed confidence in the robot’s capacity to enhance safety.

For those interested in delving deeper into Knightscope‘s innovations and ongoing projects, additional information can be found by visiting this link or by exploring the ‘Rise of the Robots‘ section on Knightscope’s official website.

Featured Image @ Knightscope

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6) This document contains forward-looking information and forward-looking statements, within the meaning of applicable Canadian securities legislation, (collectively, “forward-looking statements”), which reflect management’s expectations regarding Knightscope, Inc.’s future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. Wherever possible, words such as “predicts”, “projects”, “targets”, “plans”, “expects”, “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “anticipate” or “does not anticipate”, “believe”, “intend” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements. These forward-looking statements include, among other things, statements relating to: (a) revenue generating potential with respect to Knightscope, Inc.’s industry; (b) market opportunity; (c) Knightscope, Inc.’s business plans and strategies; (d) services that Knightscope, Inc. intends to offer; (e) Knightscope, Inc.’s milestone projections and targets; (f) Knightscope, Inc.’s expectations regarding receipt of approval for regulatory applications; (g) Knightscope, Inc.’s intentions to expand into other jurisdictions including the timeline expectations relating to those expansion plans; and (h) Knightscope, Inc.’s expectations with regarding its ability to deliver shareholder value. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about: (a) the ability to raise any necessary additional capital on reasonable terms to execute Knightscope, Inc.’s business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) Knightscope, Inc.’s ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) Knightscope, Inc.’s ability to enter into contractual arrangements with additional Pharmacies; (e) the accuracy of budgeted costs and expenditures; (f) Knightscope, Inc.’s ability to attract and retain skilled personnel; (g) political and regulatory stability; (h) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (i) changes in applicable legislation; (j) stability in financial and capital markets; and (k) expectations regarding the level of disruption to as a result of CV-19. Such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of Knightscope, Inc. to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a) Knightscope, Inc.’s operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; (b) public health crises such as CV-19 may adversely impact Knightscope, Inc.’s business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing Knightscope, Inc.’s business operations (e) Knightscope, Inc. may be unable to implement its growth strategy; and (f) increased competition.

Except as required by law, Knightscope, Inc. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither does Knightscope, Inc. nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this document. Neither Knightscope, Inc. nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this document by you or any of your representatives or for omissions from the information in this document.

7) Any graphs, tables or other information demonstrating the historical performance or current or historical attributes of Knightscope, Inc. or any other entity contained in this document are intended only to illustrate historical performance or current or historical attributes of Knightscope, Inc. or such entities and are not necessarily indicative of future performance of Knightscope, Inc. or such entities.

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About the author: Stephanie Bedard-Chateauneuf has over six years of experience writing financial content for various websites. Over the years, Stephanie has covered various industries, with a primary focus on tech stocks, consumer stocks, health stocks, and personal finance. This stock lover likes to invest for the long-term. Stephanie has an MBA in finance.