Video surveillance systems, smart case locks, and AI security robots are among just a few anti-theft technologies on the market. But what if the answer to loss prevention could be simplified?

The Loss Prevention Research Council (LPRC) at the University of Florida develops and tests theft prevention technology, funded by dozens of retailers who pay an annual membership fee to access the lab’s findings. The lab, in turn, works on solutions that bring retailers together who traditionally compete. Walmart (WMT), Amazon (AMZN), and Kroger (KR) are just some of the companies that have already come together to share their data in real time with the ultimate goal of stopping theft before it happens.

Yahoo Finance’s Madison Mills gets an inside look at the research lab where heat maps are designed to pull information from a variety of sources, including retailers, law enforcement, and fire rescue agencies to pinpoint where and when crime occurs — not only to prevent losses but to combat much larger, global issues that retail crime funds.

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Editor's note: This article was written by Cindy Mizaku

Video Transcript

AKIKO FUJITA: Season 2 of our series NEXT. Yahoo Finance's Madison Mills visited a research lab that develops and tests theft prevention technology for retailers. Maddie, how does this differ from what retailers are already doing right now?

MADISON MILLS: Well, Akiko, in our upcoming episode of NEXT, we got a look at how retailers are investing in AI-powered technology that's brand new to help fight an existing problem with theft. We were given an exclusive look at one of those technologies. We visited the Loss Prevention Research Council, which houses over 400 of these brand new tools within the University of Florida. Here's a look at what we saw.

Retail theft like this could be prevented with new AI-powered technology. This lab develops and tests new tech that aims to curb theft. And over 80 companies who traditionally compete, from Target to T.J. Maxx are coming together to fight that theft, investing in AI-powered tech like this live heatmap. This dashboard pulls information from retailers, law enforcement, and fire rescue agencies to paint a clearer picture of where and when crime happens.