BrainChip Launches New AI-powered Software that Accelerates Pattern Search and Facial Classification

BrainChip Holdings (ASX:BRN) has announced the release of its latest software product, BranChip studio.
As quoted in the press release:

BrainChip Studio is the result of more than 10 years development and uses an artificial intelligence technology called a spiking neural network, a type of neuromorphic computing that simulates the functionality of the human visual tract. Powered by this technology, BrainChip Studio aids law enforcement and intelligence organizations to rapidly search vast amounts of video footage for identifying patterns or faces.
Because faces are potentially a uniquely identifying feature, the software includes advanced facial detection, extraction, and classification algorithms. The spiking neural network technology enables BrainChip Studio to work on low resolution video and requires only a 24×24 pixel image to detect and classify faces.
In a recent field trial, BrainChip Studio detected, extracted and classified in real-time more than 500,000 facial images during 3 1/2 hours of video across eight different cameras. In a separate trial, it processed 36 hours of recorded video in less than two hours, extracting over 150,000 facial images.
There is a large market opportunity for this type of software given there has been little increase in the ability to analyze video despite the massive growth in video surveillance — driven by increases in crime and terrorism — and an exponential growth in the storage of video data.
“According to IHS market research, 197 million surveillance cameras will be sold during 2017. This is in addition to the estimated 300 million cameras already in use,” said Robert Beachler, BrainChip’s Senior Vice President of marketing and business development.

Click here to read the full press release.