Computer vision has come up as a strong concept developing alongside AI. Image processing and object recognition technology has already been introduced in several consumer facing products across – Search Engines, eCommerce stores, Product Discovery Apps etc. Research and progress of this technology has enabled processing of real time visual data as well, such as in creating autonomous drones.
Artificial Intelligence and Machine Learning technologies are going to play a big role in helping enterprises in big data analysis. Automation of decision making using data could be delegated to algorithms in the coming future. This is not only applicable for IT and Internet firms which keep collecting data on a regular basis, but also for organisations operating in the tangible world.
Corseco Technologies is an India-based startup which is working on leveraging the power of computer vision and machine learning to generate meaningful analytics for businesses.
Corseco was founded in July 2016 by Arush Kakkar and Vivek Pratap Singh. It utilises the footage recorded by CCTV cameras, to capture data that can be used for optimising business processes. When asked about the problem they are addressing to, Vivek says “(At present) CCTV Camera’s are only used for Security and theft prevention. Urgent need to extend utility from the data from the videos.”
The company has built an end-to-end Artificial Intelligence driven solution that can be implemented within the existing client infrastructure. Their system can identify and track any object in places such as warehouses, retail stores and manufacturing industries.
The Driving Technology
The company uses object recognition technology that is further evaluated by proprietary Neural Network and Deep Learning methodologies. Their objection recognition system can be used for tracking items or people within the above mentioned places.
Its Intelligent Video Analytics System or IVAS, sifts through video streams for actionable data. These data points can be customised depending on the nature of the business and the clients requirements. Using facial recognition technology for instancge, it can figure out the demographics of the customers visiting a physical store.
Use Cases IVAS
In Retail Stores
Similar to the image shown above, the video analytics system can generate heat maps of a store to show how much time a customer dwells at a particular product, establishing its demand. By understanding the demography of the audience which tend to concentrate more in a particular area, store owners can place the inventory strategically. The system can also determine whether a store or a facility is under staffed, and can raise an alarm to call in more employees.
In Warehouses and Factories
Vivek shares that their product is being deployed in warehousing for tracking the footfall of the employees. The solution can also be used for security purposes – for tracking the movement of consignments, or for checking the person of any unauthorised personnel in any restricted area.
In Other Public Settings
The product can offer queue management analysis, which can come in handy for any place that has customers lining up. The same technology offers license place recognition, that can be used by corporate offices, residential societies etc.
Current Status & Future Plans
The company consists of 8 members, and has on boarded a few clients for its product. It had raised $75,000 in seed investment from UK-based Sanjay Chaudhary, and further $150,000 from Ameera Shah, managing director and CEO, Metropolis Healthcare Limited, and Vivek Bhargava, CEO, iProspect India in November 2016. They aim to become a 50 membered team in another couple of years, and install their technology in international locations too.