Retail fraud represents a significant challenge for businesses, costing the industry an estimated $100 billion annually. For large retailers like Pets At Home, managing fraudulent activities is a constant concern. However, Pets at Home is taking proactive steps by integrating innovative technology to empower their team and combat fraud more effectively. They’ve developed bespoke tools using Microsoft Copilot Studio, currently undergoing trials to streamline fraud detection processes.
The Growing Challenge of Retail Fraud for Pets at Home
Pets at Home, as a major retailer in the pet industry, encounters a wide spectrum of fraud attempts. These range from dishonest return schemes and the misuse of coupons or discounts to more serious issues like the utilization of stolen credit card details. Kay Birkby, the Senior Fraud Manager at Pets at Home, highlights a common fraudulent tactic: the repeated submission of the same damaged package photograph by various individuals to claim refunds or redeliveries.
The sheer volume of cases demanding investigation previously made it challenging to identify such systematic fraud patterns. Manual detection methods were time-consuming and prone to overlooking subtle connections within large datasets.
Copilot Agent: A Technological Solution for Enhanced Detection
To overcome these hurdles, Pets at Home turned to Microsoft Copilot Studio to create a tailored agent. This AI-powered agent is designed to rapidly analyze substantial volumes of data, enabling the swift identification of anomalies and patterns indicative of fraud. During trials, Pets at Home’s fraud team discovered the agent’s capability to efficiently sift through data and pinpoint instances like the repeated use of a single photograph across multiple claims.
By deploying this new agent, developed in-house with Copilot Studio, Kay Birkby’s team can now analyze transaction data with greater efficiency. This allows for quicker and more informed decisions regarding when and how to intervene in potential fraud cases.
Expanding Benefits Beyond Fraud Prevention
The benefits of the Copilot agent extend beyond just fraud detection. Pets at Home is also leveraging this technology to enhance product quality and customer satisfaction. By tracking customer complaints, the agent has proven valuable in identifying potential issues with specific products.
“We’re finding those anomalies and patterns of behavior, not just to identify undesirable behavior, shall we say, but also to identify cases where this customer experienced an issue that we need to look into further,” Birkby explained. “Is there an issue with this product, for example, that we need to take internally?” This demonstrates how Pets at Home is utilizing AI not only for security but also for continuous improvement of their offerings and customer experience.
In conclusion, Pets at Home’s adoption of Copilot agent technology marks a significant step forward in tackling retail fraud. This innovative approach not only improves fraud detection efficiency but also provides valuable insights into product issues, ultimately contributing to a better experience for both Pets at Home and its customers.
