The Ivideon cloud-based video surveillance and video analytics service, which raised $8 million of investments from Rusnano Sistema SICAR and Skolkovo Ventures funds, launched Russia’s first cloud solution for face recognition Ivideon Faces, the press service of Rusnano Group said on Friday.
“Existing face recognition solutions from other vendors require installation of local costly and complex equipment. The technology transfer to the cloud will release the business from the need to buy new specialized equipment and give access to analytics from any device worldwide subject to Internet access availability,” the press service said, according to Kommersant.
The new service targets retail, banks, and the services sphere, along with office and public spaces. The product already undergoes pilot testing in café chains and other companies.
“Consumer market players has the acute necessity to ‘recognize’ faces of their buyers: personalize the service and offers, analyze the guest’s mood and his or her readiness to return. Our principal task is to give an affordable and friendly instrument of emotions recognition and audience portrait identification to the market. We want to make the product as providing maximum benefits and convenience for the progressive business, which has the need to cut costs and return clients, rather than merely buy technology solutions for reporting,” the press service cited Andrei Yudnikov, chief executive of Ivideon.
The launch of the new cloud-based technology from Ivideon is in line with the global trend: according to estimates of iKS-Consulting, the cloud services market in Russia amounted to 68.4 billion rubles ($1.1 billion) in 2018 and may reach 155 billion rubles ($2.4 billion) by 2022.
“We see at the moment that machine learning technologies, particularly the video recognition function, penetrates the majority of business process, starting from security provision and ending with forecasting consumer behavior in retail chains and entertainment centers,” said Sergei Vakhterov, a senior executive at Rusnano.