Artificial Intelligence has begun to impact industries in a big way but nowhere has the impact been as profound as it has been in the security vertical. New and innovative solutions are being released not just be established security vendors but also by smaller startups and together these solutions are adding value to the security operations of an organization. Let's discuss how AI shall impact the video surveillance industry in the near future. Initially, in the days of CCTV cameras the video used to be streamed live on the TV screens but very little effort was made to make any meaningful analysis of a possible security incident. The video surveillance solutions in those days were always reactive and continue to remain so in large parts of the world. Most agencies as for CCTV footage only when an incident has occurred or when there is a massive threat perception.
Security cameras are a great way to keep an eye on commercial spaces without being on-site, especially after-hours. While security is a 24/7 business, most organizations can't afford to monitor their systems at all hours of the day and night. Hiring a third-party provider to monitor is expensive, and even with eyes on screens, human error still results in missed reports, slow response, and increased insurance and liability costs. However, new strides in cloud-based and AI technology are leveling the playing field for small and mid-sized organizations, and are making commercial video surveillance systems smarter than ever before. Recent advancements in AI-based video security have made this technology more powerful and accurate.
Construction sites are a massive jigsaw of people and parts that must be pieced together at the right time. With larger projects, delays become more expensive. McKinsey projects that on-site mismanagement costs the construction industry $1.6 trillion a year. But you might usually only have five managers overseeing construction of a building with 1,500 rooms, foresees Founder and CEO of British- Israeli startup Buildots Roy Danon. "There's no way an individual can control that much of detail." Mr. Danon thinks that artificial intelligence (AI) can help developing an image recognition system, which monitors every detail of an ongoing construction project.