AI, Video and IoT tag along to transform businesses through technology innovation.
FREMONT, CA: From conventional analog and closed-circuit cameras to today’s digital and IP video technology, the surveillance industry has seen some core technological changes. Besides, Artificial Intelligence (AI) is also making its mark in the field.
The Vendor Management System (VMS) industry is unquestionably escalating. Presently, sensors and cameras have become more progressed and integrated with emerging technologies such as the Internet of Things (IoT). With the progression, video management systems and video technology are bound to influence markets and businesses alike.
So, what can one expect in the upgradation of the video technology industry? Here are three trends that will persist in transforming the view of the video industry.
AI will Enable a Market Shift in Video Surveillance
AI continues to boost surveillance cameras–equipping the cams with digital brains to match their eyes. AI enables systems to evaluate recorded and live video in large volumes with less human intervention.
Proactive insights and behavior analysis are already turning passive cameras into valuable productive assets. In most cities, smart video technology systems are being adopted in surveillance and command centers to fight crime more efficiently.
In one city, facial recognition technology is being tested with an extensive network of closed-circuit surveillance cameras. The AI-driven video system can moreover recognize faces in a multitude and pick out persons-of-interest in police watchlists. AI-powered video technology will make even more impact on the video surveillance industry as the business progresses.
Every Enterprise IT Strategy is Required to Have Video Technology
In today’s modern enterprise, key decision-makers and business leaders are not only placing significance on the security and safety of company assets but are also underlining better awareness of business surroundings and processes. The encompassment of the central aspect is where intelligent video technology can help improve business performance, thereby reducing operating costs.
The retail sector is a paradigm, which is flawlessly poised to reap the benefits of enhanced video technology. At present retailers have an extensive range of capabilities and tools like video analytics systems and the IoT. The technology allows businesses to gain insights into their customers’ behavior and in-store journeys.
Intelligent video can recognize people as they enter a store and track their activities around the shop. The identification creates a graphical map that lets retailers know a few critical aspects. The features include—how long a person is looking at a particular display, what areas shoppers are ignoring, and where the accessible areas of a store are. The representation helps retailers understand who to endorse items better and set off their store more effectively, along with influencing marketing campaigns.
Video can furthermore spot queues. So, store owners can see the times when they require additional staff, as well as train staff to open a new checkout when the store gets unpredictably busy. Overall, the technology helps retailers to optimize their workforce resources.
The data-driven strategy can result in reducing customer retention costs and the time required for consumer profiling. On the other hand, customers gain extra benefits in terms of better product and services.
IoT and Video Tag-Along to Transform Businesses Through Technology Innovation
With a mounting figure of connected IoT devices and the overwhelming datasets being produced, video analytics will speed up the automation of copious amount of unstructured data to unlock business value and create actionable insights.
More enterprise captured video or image content will be analyzed by machines rather than humans in the upcoming years. The prediction can be enabled by improved automation and data aggregation in systems, software, and services as it continues to boost video analytics and video innovation.
The Potential of Video
The improvements in video surveillance commerce are prompting businesses to reorganize how they view video systems. From optimizing retail stores to keeping smart cities safe, the future of video illustrates the potential. By foreseeing, as businesses start to see practical and enterprise use cases of video surveillance, one can expect to see an extensive implementation of video beyond security across diverse industries.