W&F Issue 10 2018

www.wealthandfinance-news.com 6 Wealth & Finance International - Issue 10 - 2018 Organizations install thousands of cameras each year but these are only useful after an incident has taken place because humans just do not have the attention span to watch them continuously. iOmniscient provides systems that analyse what is happening on thousands of these video streams simultaneously in real time. It can tell if someone has installed a data skimming device on an ATM or if an old person has fallen down in the bathroom of their nursing home (without jeopardizing their privacy). It can help find lost children in minutes and minimize traffic accidents by understanding the major risks at a particular junction. And once an incident has been detected the system can automatically find the nearest, appropriate first responder and tell him where to go and what to do. At its core the company provides behaviour analytics, face recognition and multilingual license plate recognition. It differentiates itself from all the other suppliers in the market with its ability to do such analyses in very crowded and complex environments. Where others can recognize people in high resolution cameras walking in single file through a door, iOmniscient can recognize them in an uncontrolled crowd at a distance on low resolution cameras. Interestingly iOmniscient systems provide higher privacy protection than traditional recording systems. Once the system has detected an event such as a traffic accident, the system can automatically find the nearest first responder (which in this case would be the nearest police car, ambulance and fire brigade) and it can tell them where to go and what to do. (See Automated Response) http:// youtu.be/n_2cGKtLqmE ) And most importantly these systems can cost nothing extra. ZERO. Their unique design enables them to operate with fewer cameras, less storage and lower network bandwidth and computing power than recording systems. So it is cheaper to put in their intelligent system than a dumb one. iOmniscient provides solutions for 30 different industries from schools, hospitals and banks to railways, oil companies and police organisations. They have implemented systems in 50 countries and their customers include the China Fast Train and the Empire State Building, Smart Cities around the world and multiple airports, railways and traffic systems in many places. (see SUNTEC Singapore https://youtu.be/eowNe6FDFm0 ) iOmniscient is the oldest privately held company in this field having introduced its first artificial intelligence based product 18 years ago. Today it has the most comprehensive portfolio of products for multi-sensory analytics in the industry and the team strives to be the best in its field for every product class. With over 50 international patents it has the ability to do things that no one else can do and many larger companies from CISCO and Huawei to Microsoft and Oracle use the firm to address their most sophisticated customer problems - even though they have their own technology to handle simpler requirements. Rustom goes into some detail about iOmniscient’s approach to client service and support. “From the start we realized that our customer base would be worldwide. We put in place several support centres in Sydney, Bangalore, Dubai and Toronto and through these we provide 24x 7 support to our customers around the world. As this is a new field, many customers do not understand what they need to do to implement such systems. Their traditional consultants did not have such implementation experience. We have a professional services team that can advise them on how to implement systems successfully as well as offer a turnkey implementation service.” In recent times, the term ‘Artificial Intelligence’ has been made fashionable by new entrants to the field. Having been in this field for a long time, iOmniscient’s products are robust and proven in hundreds of real customer environments, as Rustom explains. “We can never be complacent. There are many well- funded companies entering this field in China and elsewhere. They attempt to buy market share by virtually giving away their technology. However, we have been able to maintain our position by offering products that are robust, superior in performance and good value for money. Our most significant challenge is educating our customers. We believe that well educated customers will always make smart decisions and hence we spend much of our energy on this. We have even written several books on how the various technologies work to enable non-experts to feel comfortable with them.” iOmniscient is an Artificial Intelligence Company that provides sophisticated Multi-sensory – video, sound and smell - analytics. Having evaluated the firm’s technology, we spoke to its CEO and Co- founder, Dr Rustom Kanga to discover more about their innovative ways. Best in Class 1808WF18 Contact: Dr Rustom Kanga Company: iOmniscient Address: 6/ 6 Help Street, Chatswood, Sydney, NSW 2067, Australia Telephone: +61 2 9411 7776 Web Address: www.iomni.ai Reflecting on their internal culture, Rustom highlights the philosophy that enables the company to continue to develop ground-breaking products. “Maintaining an innovative culture is not easy. We do not to hire experienced developers from other companies as we have found they tend to use traditional methodologies such as those taught at most Universities. We prefer to take young graduates and post grads and train them in our own counter-intuitive ways of doing things. This has been the key to generating solutions that are patentable, and which cannot be replicated by others who think along traditional lines.” Looking ahead to what the future holds, Rustom signs off by revealing some of the major developments which are on the horizon. “The technology keeps evolving. Our most recent advance is the ability to do Face Recognition from Moving Cameras (e.g. from Drones and Body cameras) at far distances in crowded environments. This patented new capability is unique, and we see so much potential in it that we have spun off a company just to focus on this. “For 18 years, we have managed to stay ahead of the competition. Moving forward, we have to remain nimble and responsive to our customers to maintain this lead.”