Many businesses continue to feel the impact of physical security incidents on their bottom line, and they’re listing the uncertain economy as one reason why. But what do business executives think are the primary reasons for the increase in crime in 2023? And could artificial intelligence (AI) help reverse this trend?
2023 Physical Security Landscape
In Pro-Vigil’s “The State of Physical Security Entering 2024” research report, 25% of businesses reported an increase in physical security incidents in 2023. What’s driving these incidents? Will it get any better? In the fourth edition of our “State of Physical Security” survey, Pro-Vigil found that businesses reported local crime as their biggest security concern.
But even as the COVID-19 pandemic gets further in the rearview mirror, business executives still believe supply chain issues and fears of an impending recession led to an increase in physical security incidents.
RVM on the Rise
To help combat these challenges, businesses have beefed up their defenses with many adding security video cameras last year. Of those using video surveillance, 44% indicate they are using remote video monitoring (RVM) services. This is slightly higher than last year’s total and indicates a positive step in the right direction for many businesses as they leverage the power of RVM for physical security.
AI’s Untapped Potential
Business leaders are also exploring the potential of incorporating AI into physical security strategies and this year’s survey dives into how this technology is perceived. While combining AI and RVM creates a powerful tool to fight crime, this year’s survey found that 71% of businesses are not utilizing AI for security. And 57% of respondents aren’t sure if AI can be a helpful tool, illustrating an education gap when it comes to the benefits of this technology to detect and deter crime.
Security Survey Results
In conducting the survey for The State of Physical Security report, Pro-Vigil polled almost 150 business leaders across a variety of industries to understand how physical security challenges and strategies evolved in 2023, and their outlook for 2024.
Additional findings include:
That’s just the beginning. To examine additional results on the current crime landscape, security strategies, and the impact of crime on business, dive into the full “The State of Physical Security Entering 2024” report by clicking below.
Want to learn more about how Pro-Vigil can help secure your business? Contact us today.