Point Roberts, Washington and Delta, British Columbia--(Newsfile Corp. - September 5, 2019) - Investorideas.com, a global investor news source covering Artificial Intelligence issues a special edition of The AI Eye, reporting on breaking news for VSBLTY Groupe Technologies Corp. ( CSE: VSBY) (OTC: VSBGF) ( FSE: 5VS.F), a leading retail software and technology company using artificial intelligence.
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VSBLTY Groupe Technologies Corp. (CSE: VSBY) (OTC:VSBGF) (FSE: 5VS.F) is uniquely positioned to facilitate the growth of smart city technology in the Latin American market, according to company co-founder and CEO Jay Hutton.
This will be made possible through the company's just announced three-year agreement with intelligent lighting solutions provider Energetika. VSBLTY is to provide real time crowd analytics and audience measurement for Latin American communities. Hutton explained how VSBLTY's technology is ideal for the growth of smart cities in the region.
"If you think of smart cities as a three-legged stool: the one leg is information, the second is analytics and the third is facial recognition for the purposes of law enforcement," said Hutton. "With VSBLTY [having] software solutions to satisfy each of those legs of the stool, we're in a great position to take advantage of this coming revolution."
This is achieved through VSBLTY's proprietary software platform, DataCaptor™, which provides instant information, capturing consumer traffic using advanced optics and sensors to provide objective, real-time, qualitative measurements and analysis of retail venues and other public spaces. And the company's Vector™ software provides security by detecting persons and objects of interest through facial recognition and weapons detection technology.
Specifically, the agreement will see Energetika's Efficient Lighting and Smart Energy solutions for residential, commercial and governmental applications incorporate VSBLTY's security technology that includes crowd analytics and facial recognition. In the press release, Hutton expanded on the application of VSBLTY's technology and the potential growth afforded by the agreement.
"We will be providing advanced analytics as well as public safety applications including tracking of persons of interest, weapon detection, vehicle and crowd analytics using the power of machine learning and computer vision. This contract is expected to generate more than $10 million USD in SaaS revenue to VSBLTY in the initial three years."
Hutton said the agreement will not only expose the market to VSBLTY's technology, but will also make solutions more affordable, allowing the company to scale.
"The most important thing, and the thing we're most proud of with our […] arrangement with Energetika, is that we've really broken the back of high-end surveillance systems from an economic point of view," Hutton said. "By that I mean that a lot of these solutions, though very capable, were unreachable for municipal governments, residents and neighborhoods. And because of the combination of facilities and infrastructure with lighting, we've really made this considerably more attractive and affordable. And because of that we're able to scale this utility in a very aggressive way, and that's going to give us a unique growth opportunity."
Expanding on this, Hutton explained how previously, many cities throughout the world have been prohibited from adopting smart city technology by the sheer cost.
"If you look at the category of smart city and surveillance, it has been historically dominated by the largest cities in the world that leverage very high-end camera infrastructure and technology," Hutton said.
"The largest cities in Latin America, as an example, could not afford the kind of technology that would be deployed in the largest cities in the world," Hutton said. "We've reached the point, and I think VSBLTY is absolutely a leader in this category, where we've driven the price down to the point where not only is it accessible to cities that don't have that kind of pocketbook, but has the kind of capacity and capabilities that is really broadening the utility and use cases."
"It's an important milestone in the growth of the company."
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/47515