Baek Byung-yeul is a journalist at The Korea Times focused on cultural content, including films and cultural events in South Korea. You can contact him at baekby@koreatimes.co.kr to share your insights.
AI, cloud to emerge as major trends in video surveillance industry: Hanwha Vision
This photo released by Hanwha Vision shows next year’s video surveillance industry trend. Courtesy of Hanwha Vision
By Baek Byung-yeul
Hanwha Vision, which specializes in video surveillance systems, said on Wednesday that the integration of security cameras and AI and the acceleration of cloud computing are major trends in the security solutions industry in the coming year.
The company released a report predicting next year’s video surveillance industry trends. It said that AI will be more widely used in analyzing incident trends and future predictions.
“The industry is leveraging AI technology that accurately detects and distinguishes objects captured in security cameras, and producing valuable insights for business through video data and AI-based analysis, and assessing the likelihood of specific events,” Noh Seung-in, head of AI lab of the company, said.
“These data and AI-driven predictive analytics provide broad and immediate visibility into numerous potential outcomes and impacts on threats and business strategies,” Noh added.
Hanwha Vision said AI-based predictive analytics in video surveillance consists of video information collection, exploratory data analysis and future situations modeling.
“These are used in industries such as urban infrastructure, retail, factories, logistics and medical sites, and make businesses more efficient through cost reduction, process optimization and service quality improvements, as well as safety and accident prevention,” the company said.
To show its presence in the market, Hanwha Vision will utilize its SightMind, which was released as a pilot program to some select customers in 2023 and will be launched in North America next year. This technology visualizes metadata extracted from AI cameras and other Internet of Things devices to help customers apply data to their businesses, according to the company.
By utilizing SightMind, retail stores can measure the effects of digital signage advertising and analyze customer traffic within the store. In factories, AI technology can evaluate slip and fall detection, as well as monitor access to restricted areas.
In regard to the industry's transition to cloud computing, Hanwha Vision said more companies in the video surveillance industry will invest in cloud to effectively operate its business.
“Companies are increasingly investing in cloud-based services that take advantage of video data due to advanced video surveillance technology, increased initial investment costs and current high-interest rates,” Ryu Jung-woo, chief product officer at Hanwha Vision, said.
Hanwha Vision continues to add more features to edge AI cameras in order to meet the needs of different vertical markets. Next year, more vertical-specific edge AI functions will be introduced.