IOTech Partners with Lotus Labs to Create AI and Visual Inference at the IoT Edge
Through video analytics and conventional sensor data, the Edge software platform with computer vision technology gives a more accurate real-time operating picture.
FREMONT, CA: IOTech, an edge software provider, declares cooperation with Lotus Labs, a machine learning expert, to supply AI and visual inference solutions at the Internet of Things' edge. IOTech can now incorporate Lotus Labs' computer vision technology into its edge software solutions due to the relationship.
This combination enables businesses to develop intelligent solutions for a variety of vertical use cases. These include loss prevention in retail, population control in entertainment venues, flaw detection in manufacturing components, COVID safe-distancing management, and intelligent safety systems in industrial plants.
The integrated solution will enable combining data from conventional sensors and OT endpoints with results from cutting-edge AI and video inference technologies to create a far more accurate real-time operational picture and make wiser decisions based on data fusion.
“An IoT edge system’s ability to obtain immediate local insights from vision-based analytics will revolutionize how businesses create new value through their operations,” says Keith Steele, IOTech’s CEO, “Our partnership with Lotus Labs creates new opportunities to provide our customers with advanced AI and visual inference solutions.”
IOTech is now conducting pilot projects at key athletic arenas and anticipates deploying AI and visual inference solutions at a number of them shortly.
Lotus Labs, based in Arizona, provides visual inference via their artificial intelligence platform Padmé. Padmé will be combined with IOTech's Edge Xpert to offer a unified solution for edge computer vision. The system will apply to various scenarios, including population counts, predictive maintenance, product quality assurance, and theft detection. All of these gain accuracies as a result of AI and video inference.
“Growth and advancements in AI, machine learning, computer vision and edge computing are coalescing to disrupt traditional business models,” says Anjali Nennelli, founder and CEO, Lotus Labs. “Our partnership with IOTech is another step forward in this journey to combine advanced technologies at the IoT edge to deliver new value for the enterprise.”
The global video analytics market was worth $4,102.0 million in 2019 and is expected to reach $21,778.0 million by 2027, growing at a 22.7 percent compound annual growth rate from 2020 to 2027. (Source Allied Market Research, April 2021). This increase creates a tremendous potential for suppliers such as IOTech and Louts Labs that provide the software tools necessary to facilitate this adoption.
A pluggable open architecture backs the IOTech Edge Xpert edge computing platform for computer vision that enables customers to execute AI algorithms and vision models at the edge. Edge Xpert allows customers to manage camera equipment, capture video streams effortlessly, and apply AI and vision inference automatically at the edge. The platform enables the deployment of object detection, categorization, and recognition models and the transmission of inference findings to other services for real-time decision-making.