Smarter AI Cameras Everywhere Hold Much Promise
This article discusses the global AI smarter camera market, explores different camera use cases, highlights the innovations in the logistics and transportation industry, and includes recent interview highlights with, Chris Piche, CEO of Smarter AI, a USA headquartered company that has a compelling product platform and ecosystem community vision beyond many of the incumbent players. In a nutshell, Chris Piche, CEO of Smarter AI, described his company as “the leader in AI cameras and enablement software. Smarter AI software-defined cameras program AI-like apps on a phone and are supported by AI Store, our ecosystem of AI models and developers, to scale AI camera use cases.” The Las Vegas company, with offices in Singapore and in Dubai, has also recently secured its Series A financing of over $30M to advance its scale-up enablement needs, and from all early signals, Smarter AI is heading in the right direction.
The global smarter camera market, according to BlueWeave Consulting, the market was worth USD $7.4 billion in 2020 and is further projected to reach USD $33.3 billion by the year 2027, growing at a CAGR of 24.0% in the forecast period.
What is very exciting about the smarter AI intelligent camera market is that it uses so many diverse technologies to create new capabilities, including: computer vision, image recognition, machine learning, deep learning, speech and voice recognition technologies. These methods are further augmented by data scientists and computer engineering specialists to build AI models that can also solve different business use cases – as the world continues to decompose business problems faster using these advanced methods.
These intelligent cameras solve many business challenges ranging from: driving assistance systems, accident reconstruction intelligence to security surveillance cameras for preventing crimes at retail stores, or providing increased security in residences. The AI smarter camera technology can capture everything around it: the landscape, the intensity of light, the decomposition of every section of the image for precise classifications, the timing of the footprint, the situational awareness, the sound and noise detection, even the gait of the person walking around a vehicle can provide health intelligence – the possibilities for breakthrough innovations are simply endless.
Smarter AI-enabled cameras have been for some time enabling law enforcement agencies to identify any unwanted activity and prevent crimes. At the same time, there are growing concerns from many public channels on the risks of society creating a surveillance driven world, where humans no longer have the right to be invisible, unseen or even unknown. All these dynamics are putting increased strain on policy, ethics and governance regulators, as well as challenging legal legislators to create a more balanced technology and human interface world and set new laws more rapidly as once again technology innovators are out front of legal legislators.