AIQ s Video and Image Recognition Technology allows for instantaneous processing of both videos and images.
Teaching machines to recognize visuals, analyze them, and take decisions on the basis of the visual input holds great potential for many industries across the globe. Retail, Advertising, Broadcast Media, Print Media, Healthcare, Insurance, and Gaming – several industries find image and video recognition technology as a business imperative these days. According to reports, the image recognition market is estimated to grow from USD 15.95 Billion in 2016 to USD 38.92 Billion by 2021. Image recognition technologies can play a huge role in helping companies better analyze data and deliver more accurate services comparable to the ability of humans.
Especially, in the retail sector, video and image recognition technology is able to assist brands and retailers to gather information pertaining to consumer preferences and behaviour as well as for the purpose of data analytics. Some AI companies have already shown expertise in enabling businesses to attract shoppers around the globe by giving them an interactive view of their stores on their smartphones. AIQ is an eminent one among them. Founded in 2014, AIQ is a Singapore-based computer vision solutions company who merges AI and IQ. Combining the two, it bridges the gap between offline and online content to create a seamless Omni-channel approach by integrating video and image scanning capabilities into mobile applications.
AIQ s Video and Image Recognition Technology allows for instantaneous processing of both videos and images. With that, the technology is able to do away with the scanning of QR Codes, allowing customers to be involved in enhanced visual interactions with a particular brand’s product offerings. By maximizing the use of scanning and allowing customers to be transported to an interactive online media such as e-flyers and e-information kiosk link-ups, AIQ is helping to revive and reinvent traditional businesses to build up their competence and relevance in this digital age whereby e-commerce is thriving.
How AIQ works?
AIQ s video and image recognition technology aids businesses in better understanding their customers. By adapting its computer vision solutions, companies can generate important information comprising customers’ time, venue and frequency of scanning and interacting with specific brand content. For businesses, its best-in-class image and video recognition technology is affordable too. Besides, its image and video matching technology has gone through long research work and is proven as “a highly accurate and one of the industry s fastest system for image and video matching that is currently being patented. So, the business benefits for AIQ customers are huge.
“Deep learning has garnered much interest in the recent years and for this to work for any company; they have to invest heavily upfront in areas such as human capital (research scientists) in order to start exploring the possibility of applying this to their business functions. Taking the same approach with our current technology, we are looking into ways of making deep learning "affordable" for everyone. Finally, we see ourselves as a solution provider, providing solutions rather than just the technology. We think that is crucial for anyone looking to build a deep learning image recognition business,” said Khang Toh, CTO of AIQ.
As adoption of such technology grows, AIQ s vision is to provide the best-in-class image and video recognition technology and ensuring this technology is widely accessible to everyone. Marcus Tan, CEO, AIQ says, “A.I and computer vision technology remains a luxury and out of reach ticket item for many companies budget and we see ourselves well positioned to provide such access.” He further adds, “A firm s adoption of video and image recognition technology is a support of green technologies. This is contribution to environmental sustainability on the global scale. Studies have also shown that companies that support green initiatives have become well-received amongst customers.”
The Road Ahead
AIQ started its services targeting three main verticals namely traditional media, MICE and retail to assist them in providing their customers with innovative and multichannel brand experiences to boost their brand equity. At present, the company is looking is expand the use of its technologies to benefit other industry verticals. “The company has already penetrated major industries and has attracted a huge clientele. For instance, AIQ at present, is developing visual identifications for the different stages of skin rash”, adds Marcus. He affirms, “It is envisioned that by using the Video and Image Recognition Technology in conjunction with deep learning, consumers can gauge the severity of eczema by placing their mobile device near to the affected area.”
The company now researches in designing UAV drones to be used by civil administration, supermarkets and FMCG companies. It aims to conduct real-time object recognition on top of video and image recognition. “All in all, AIQ is poised for greater developments and aims to be the global leader in the realm of computer vision technology”, concludes Marcus.
"AIQ is poised for greater developments and aims to be the global leader in the realm of computer vision technology"