Put simply, “Computer Vision” is a term used to describe techniques computers employ to gather information, similar to how a human would (e.g. image recognition), then do something useful with it (e.g compute massive amounts of data).
Currently, the most popular example is image recognition for airport security. Algorithms watch passengers’ faces from a security camera as they pass through a checkpoint. Any faces recognized from a no-fly list trigger an alert to security, an impossible task for humans to do efficiently for long lengths of time.
Computer Vision can be applied to anything you can think of that would benefit from NOT having a human laboriously observe and record. Humans need to eat and sleep; algorithms do not. As video-gathering devices become cheaper and more prominent, there won't be a person watching on the other end, there will be artificial intelligence.
At Mobalysis, we’ve applied this tech to snow webcams for ski resorts. Since much of the new snow falls at night, it’s beneficial to automate the process of “watching” snow cams for when it starts snowing. This artificial intelligence is able to detect snowfall and alert skiers without human involvement.
A more technical application, is computer vision to analyze rapid diagnostic tests. A pregnancy test is the most popular example of a rapid diagnostic test. Pharma companies now make these tests for all types of targets like malaria and cancer to get quick “yes” or “no” results in the field for low cost, usually pennies on the dollar. Mobalysis tech can quantify, or apply a measured number, to these tests. Instead of telling you you have cholesterol in your blood for instance, Mobalysis can tell you “how much”. Imagine the implications. You could wake up every morning, pee on a stick, and monitor cholesterol or cancer like you would steps with a Fitbit®. If you notice an abnormal spike, pro-actively schedule a doctor's visit. According to the American Cancer Association, early detection is known to reduce mortality rates in cancer cases.
Still other companies are using computer vision for driver-less vehicles, gesture-controlled smartphones, and "Internet of Things" applications like home security and appliance functionality. Companies like Snapchat recently acquired a company called Seene which lets you capture 3D models from your phone, likely for new engaging funny faces in the increasingly competitive market of social apps. Intel recently agreed to buy up Itseez which develops algorithms for autonomous vehicles to “see” their lane and avoid obstacles. Small startups are being purchased left and right by the big boys for their tech teams and IP in hopes of creating more immersive, engaging product experiences. ■
Mobalysis is an image recognition technology company. For investor inquiries visit our Contact Page.