AI-based Video Analytics Making Supply Chains Smarter

The growing use of artificial intelligence (AI)-powered video analytics over the years has radically altered and improved the operations of many processes, across industries and continents. The findings of the IHS Markit Video Surveillance Intelligence Service shows that there has been a consistent growth in the global professional video surveillance equipment market, with the worldwide market revenue jumping up from $18.2 billion in 2018 to $19.9 billion in 2019. Supply chain management, which basically refers to the handling of various processes comprising the production flow, all till the end product is finally delivered to the customer, has become smarter using the next-gen video analytics technology. Devices that are intelligently embedded with the technology, such as CCTV cameras, are automatically able to gather crucial data in real-time through video feed. The AI-based system then adds intelligence to these devices, which are also able to carefully analyse this data, recognize any kind of critical or abnormal events during any leg of the supply chain, further sending automated alerts in real time.