Artificial intelligence is emerging as a powerful tool in the retail and business sectors, helping companies combat shoplifting and streamline administrative tasks. As AI-driven technologies gain traction, several European businesses featured in this year’s FT 1000 ranking are leveraging machine learning and automation to enhance efficiency and security.
AI Surveillance to Curb Retail Theft
Retailers have been struggling with rising incidents of shoplifting, some of which involve violence. In response, Paris-based startup Veesion has developed AI-powered surveillance software that analyzes CCTV footage to detect suspicious behavior. By combining machine-learning algorithms with biometric technology, the software can identify movements associated with theft, such as concealing items in clothing or tampering with products.
Currently deployed in over 4,000 stores across 25 countries, Veesion’s technology has helped reduce shoplifting by up to 60%, according to company estimates. Hamza Saleem, the company’s senior account executive for the UK and US, explains that the AI system continuously learns from behavioral data to improve its accuracy. Unlike traditional facial recognition systems, which rely on prior offender identification, Veesion’s software detects theft based on real-time movement analysis.
With retail theft continuing to be a major concern, demand for AI-driven security solutions remains strong. Veesion reported a revenue of approximately €6 million in 2023, a significant jump from €200,000 in 2020. The company is also exploring technology to detect internal theft by employees, addressing another major challenge for retailers.
AI Automation Enhancing Recruitment Efficiency
Beyond security, AI is also transforming business operations by automating repetitive tasks. SourceWhale, ranked 18th in the FT 1000, has developed AI-powered workflow automation software tailored for recruitment agencies. The cloud-based system integrates multiple IT platforms, reducing administrative burdens and improving efficiency.
Timothy Hogwood, co-founder and CEO of SourceWhale, describes how the company evolved from a recruitment agency into a tech firm. Initially developed as an internal tool to streamline hiring processes, the software gained traction among other agencies, leading SourceWhale to pivot into a full-fledged software provider. Since landing its first client in 2020, the company has grown rapidly, reporting €7.75 million in revenue in 2023.
Recruitment firms using SourceWhale’s technology have reported significant returns on investment. Ben Broughton, founder of the technology-focused recruitment firm Primis, claims the software has delivered up to 18 times its cost in efficiency gains and new client acquisitions.
AI’s Expanding Role in Fraud Prevention
The application of AI in fraud detection extends beyond retail and recruitment. Solidstudio, a Polish company ranked 73rd on the FT 1000 list, is leveraging AI to enhance security in the electric vehicle (EV) charging industry. The company’s software facilitates EV charging by helping drivers locate stations, manage charging sessions, and process payments.
One of Solidstudio’s key initiatives involves detecting fraudulent activities such as RFID card cloning. This type of fraud allows multiple EVs to be charged simultaneously at different locations using a single account. As such incidents become more common, AI-driven fraud prevention tools are becoming increasingly critical.
The Future of AI in Business
As AI adoption accelerates across industries, businesses are increasingly relying on intelligent automation and machine learning to improve security and efficiency. Whether through retail theft detection, recruitment automation, or fraud prevention in EV networks, AI is proving to be a transformative force in modern business operations. The continued integration of AI-driven solutions is set to reshape industries, making processes more efficient and securing assets against emerging threats.
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