Are enterprise cameras the next hot IoT platform?
Say, what? Well, recent investments indicate this might just be the case. The enterprise security camera platform, alone, has been picking up real steam. In the past few weeks, 5 early-stage startups in this vertical have announced a total funding of $51.7M, including:
Spot AI: turns your video security into video Intelligence
AI Deter: transforms your existing cameras into active observers
Deep North: using computer vision and AI to digitize brick and mortar stores
Rhombus systems: provides cloud managed video security for enterprises that is intelligent and doesn’t require complicated servers or NVR’s
Voxel: enables security cameras to automatically identify hazards and high-risk activities in real-time
So, what does this mean long-term? With the growing convergence of computer vision technology, facial recognition, artificial intelligence - and potential of sensors and connectivity - there are a number of interesting applications that could be augmented through traditional cameras and retrofitted equipment. For instance, smart street lights (or enterprise lighting) could be equipped with cameras that can help deter or stop criminal activity, in public spaces or brick and mortar stores. Drones could carry enterprise cameras and interact (or analyze) employees, customers, and their behavior. This is already happening with Amazon drivers in cameras mounted in vehicles. Or the potential of making fast food orders more accurate. From a technological perspective, the cost of LiDAR solutions is decreasing, and would substantially bolster computer vision used by enterprise.
But … there is also a big risk in the market. The camera platform is caught up in thorny pushback of more privacy- cities across the country are try to regulate its facial recognition applications, particularly when it comes to law enforcement (Baltimore’s ban on facial recognition). Also, projects such as Sidewalk Lab’s proposed Smart City in Toronto was viewed negatively by the community who feared the big brother effect, and enterprise employees could do the same.