ADT Inc. (NYSE: ADT) shares dropped sharply Monday morning, on the announcement that, via its commercial channel, it is investing in Percepta Labs , an artificial-intelligence technology startup out of Philadelphia.
ADT Commercial is a premier provider of commercial security, fire, life safety, and risk consulting services in the U.S., and through its investment will fund the commercialization and application of the startup’s cutting-edge AI technology to help detect and deter shoplifting.
ADT Commercial will work directly with Percepta to further test and develop the application of Percepta’s proprietary, socially responsible AI technology in commercial environments and facilitate the launch when the solution is market-ready.
Said Executive Vice President Dan Bresingham, "We’re so proud to place our support in forward-thinking organizations like Percepta, who are aiming to truly revolutionize the industry.
"We pride ourselves on being at the forefront of change in our industry. We believe Percepta could signal a tidal shift in how we approach AI, facial recognition, and data collection, and we look forward to seeing how their technology continues to develop."
Early tests by Percepta indicate the technology could be more than two times more accurate than human loss prevention personnel in detecting shoplifting behaviors, translating into improved margins, decreased shrink, and a better experience for customers, while eliminating biases based on race, gender, and age.
Shares faltered 14.5 cents, or 1.7%, to $8.575.
