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Artificial Intelligence

AI and Computer Vision: A Powerful Combination for Growth in the Coming Years

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Chicago, Feb. 24, 2023 (GLOBE NEWSWIRE) — The AI in Computer Vision Industry by Component, Machine Learning Models, Function, Application (Industrial, Non-Industrial), End-Use Industry (Security & Surveillance, Consumer Electronics) and Geography – Global Forecast to 2026“, The major factors driving the growth of AI in computer vision market are growing need for quality inspection and automation, increasing demand for computer vision systems in non-traditional and emerging applications, and rising need for ASICs and government initiatives to support industrial automation and integration of AI into the edge devices. However, several factors, such as rising security concerns related to cloud-based image processing and analytics can act as a key challenge in the market during the forecast period.

Artificial intelligence (AI) is rapidly advancing and has a significant impact on a variety of industries. Computer vision is one of the areas where AI is having a significant impact. Computer vision is the interpretation and analysis of visual data from images and videos using algorithms and deep learning models. With the use of AI, computer vision is becoming more sophisticated and accurate, with applications in a wide range of industries, including healthcare, automotive, retail, and security. The growth of the market is driven by the increasing demand for AI-powered computer vision solutions in various applications, including autonomous vehicles, facial recognition, and medical image analysis.

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AI in Computer Vision Market Report Scope :

Report Metric Details
 Estimated Market Size  USD 15.9 Billion
 Projected Market Size  USD 51.3 Billion
 Growth Rate  CAGR of 26.3%
 Market size available for years  2021–2026
 On Demand Data Available  2030
 Report Coverage
  • Revenue Impact Forecast,
  • Major Company Ranking,
  • Competitive Landscape,
  • Growth Factors,
  • Trends.
 Segments covered
  • By Component,
  • By Machine learning models,
  • By Function,
  • By Application,
  • By End-use industry,
  • By Region
 Geographies covered
  • North America (NA)
  • Asia Pacific (APAC)
  • Europe (EU)
  • Rest of World (ROW)
 Companies covered
  • NVIDIA (US),
  • Intel Corp. (US),
  • Microsoft Corp. (US),
  • IBM Corp. (US) and
  • Qualcomm (US).
 Key Market Driver  Growing need for quality inspection and automation
 Largest Growing Region  Asia Pacific (APAC)
 Largest Market Share Segment  Consumer Electronics Segment
 Highest CAGR Segment  Software Segment

One of the major factors driving the growth of AI in computer vision is the increasing adoption of deep learning techniques. Deep learning models have shown significant improvements in accuracy and performance compared to traditional computer vision algorithms. With deep learning, computer vision systems can learn from vast amounts of data, enabling them to detect and recognize objects with higher accuracy and speed. This has opened up new possibilities for AI-powered computer vision solutions, such as self-driving cars and advanced facial recognition systems.

The increasing availability of data is another factor driving the growth of AI in computer vision. With the proliferation of smartphones and other visual data-capture devices, there is an increasing amount of data available for use in training AI-powered computer vision systems. This, together with advances in cloud computing and big data analytics, is making it easier for businesses to develop and deploy AI-powered computer vision solutions.

“Browse in-depth TOC on “AI in Computer Vision Trends, Growth Drivers“­­­­­­­­

163 – Tables
71 – Figures
246 – Pages

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The increasing demand for automation in various industries is also driving the growth of AI in computer vision. AI-powered computer vision solutions can aid in the automation of previously manual tasks such as quality control in manufacturing and security surveillance. This can lead to increased efficiency, accuracy, and cost savings for organizations.

Related Reports:

The Machine Vision Market size is projected to reach USD 17.2 billion by 2027 from USD 12.0 Billion in 2022 at a CAGR of 7.4% during the forecast period. It was observed that the growth rate was 10.7% from 2021 to 2022

The Artificial Intelligence (Chipsets) Market size is expected to be valued at USD 7.6 billion in 2020 and likely to reach USD 57.8 billion by 2026, at a CAGR of 40.1% during the forecast period.


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Artificial Intelligence

Rockwell Automation and its PartnerNetwork™ Ecosystem Present Artificial Intelligence, Autonomous Operations, 5G and Cybersecurity in Driving Digital Transformation at Hannover Messe 2024

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In collaboration with partners including Cisco, Ericsson, Microsoft, ODVA, the OPC Foundation and NVIDIA, Rockwell will showcase the latest technologies shaping the future of industrial operations
DUSSELDORF, Germany, April 18, 2024 /PRNewswire/ — Rockwell Automation, Inc. (NYSE: ROK), the world’s largest company dedicated to industrial automation and digital transformation, will showcase its innovative, industry-leading technology and services with its partners, including Microsoft and Cisco, at the Hannover Messe 2024 trade fair, April 22-26, in Hannover, Germany.

Rockwell will collaborate with its PartnerNetwork™ ecosystem and demonstrate solutions that address a variety of challenges for industrial companies, including modernizing operations, achieving sustainability goals and accelerating digital transformation.
“Our partnerships embody a shared vision of building and delivering the best solutions to drive digital transformation in industry and enable intelligent factories,” said Malte Dieckelmann, vice president, enterprise software sales, Europe, Middle East and Africa, Rockwell Automation. “We do this by simplifying how manufacturers design, operate and maintain their operations and empower their people in a secure, connected enterprise.”
In collaboration with Cisco, Ericsson, Microsoft, ODVA, the OPC Foundation and NVIDIA, Rockwell will present technology and services that help solve complex challenges with solutions for the entire value chain of a digital transformation journey.
Artificial intelligence (AI), autonomous operations, 5G and cybersecurity are among key technologies that help manufacturers accelerate their digital transformation. According to Rockwell’s recently published 9th annual “State of Smart Manufacturing Report,” industrial companies around the world cite artificial intelligence as their top priority for new investment over the next 12 months.
At the Microsoft booth, visitors will see the latest technology integrations between the two companies, including how AI is transforming manufacturing through a customer-inspired digital twin of a quality inspection process using artificial intelligence, highlighted by a real-world simulation of product sorting and autonomous material handling.
Following a recently announced collaboration with NVIDIA, Rockwell will share how it is integrating NVIDIA Omniverse Cloud application programming interfaces (APIs) into Emulate3D by Rockwell Automation, bringing users data interoperability, live collaboration and physically based visualization for designing, building and operating industrial-scale digital twins of production systems.
At the Cisco booth, Rockwell will present how the two companies enable a secure connected industrial environment leveraging Rockwell’s Converged Plantwide EthernetTM reference architecture (CPwE) with its co-developed industrial ethernet switching, as well as cybersecurity solutions such as Cisco® Cyber Vision, which enables network segmentation, asset discovery and security monitoring.
Rockwell will highlight its collaboration with Ericsson by demonstrating Plex Asset Performance Management (APM) – enabled by industrial private 5G connectivity – driving real-time decision-making and managing new assets such as autonomous mobile robots (AMRs). Private 5G allows manufacturers to be more agile, flexible and sustainable while adding more devices and intelligence to their networks.
Rockwell is also partnering with ODVA, a standards development organization, to demonstrate the benefits of EtherNet/IP, CIP Security™ and 5G. Reliable wireless industrial automation appliances using EtherNet/IP and CIP Safety in private 5G networks will be shown. Also on display will be recent wireless device additions to Rockwell’s EtherNet/IP product portfolio.
Finally, Rockwell will be at the booth of OPC Foundation, an industry group that maintains standards for the secure and reliable information exchange in industrial applications. Rockwell offers scalable OPC UA solutions for machine builders and end users through Embedded Edge Compute Modules and the FactoryTalk® Optix™ software platform, supporting heterogeneous software applications and control environments.
About Rockwell AutomationRockwell Automation, Inc. (NYSE: ROK), is a global leader in industrial automation and digital transformation. We connect the imaginations of people with the potential of technology to expand what is humanly possible, making the world more productive and more sustainable. Headquartered in Milwaukee, Wisconsin, Rockwell Automation employs approximately 29,000 problem solvers dedicated to our customers in more than 100 countries. To learn more about how we are bringing Connected Enterprise to life across industrial enterprises, visit www.rockwellautomation.com.
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Artificial Intelligence

LG STRENGTHENS EUROPEAN PRESENCE WITH ITS KITCHEN SOLUTIONS SHOWCASE AT MDW 2024

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Featuring Advanced AI Technologies and Sleek Design, Company’s Expanded Lineup of Built-in Appliances Brings Outstanding Convenience and Style to the Kitchen
SEOUL, South Korea, April 18, 2024 /PRNewswire/ — LG Electronics (LG) is unveiling its latest built-in kitchen appliances at Milan Design Week (MDW) 2024, taking place in Milan, Italy, from April 16-21. At the center of LG’s Milan showcase are the brand-new Signature Kitchen Suite built-in oven, free zone induction hob, and downdraft hood. Boasting innovative, premium design and highly-convenient features, the company’s refined built-in solutions bring exceptional ease-of-use and effortless elegance to the kitchen.

Signature Kitchen Suite Built-in Oven with Advanced Cooking Technologies
Debuting at MDW 2024 and designed with European consumers in mind, the Signature Kitchen Suite 60-centimeter (24-inch) built-in oven offers a variety of cutting-edge features and AI technologies to elevate the culinary experience. Equipped with Gourmet AI™️, the oven can identify what the user is cooking and automatically select the appropriate cooking mode from 130 recipes. Gourmet AI also enables ‘browning’ control for foods such as pizza and steak, actively keeping tabs on the cooking process and notifying users via the ThinQ™️ app as soon as their food is done. Thanks to video-recognition, LG’s intelligent oven can suggest the optimal settings for the dish being prepared, while real-time video monitoring and time-lapse recording make it easy to check on the progress of one’s meal using the ThinQ app.
Employing enhanced ProBake powered by inverter technology, the new oven delivers uniform heat and fast, efficient cooking with an A++ energy rating. LG’s innovative technology rotates the convection fan back and forth to ensure shorter preheating times, even heating, and crispier results when using the oven’s Air Fry mode. The company’s unique InstaView™️ technology further enhances user convenience, making it possible to see inside simply by knocking twice on the oven door.
Free Zone Induction Hob for Convenient and Flexible Cooking
The Signature Kitchen Suite’s 90-centimeter (36-inch) free zone induction hob presents next-level flexibility and ease-of-use, allowing users to place any size and type of cookware – such as Paella pans and moka pots – anywhere on its cooking surface.* The new appliance can detect and track the position of cookware, eliminating the need to manually cancel and reapply settings when moving a saucepan or skillet from one part of the cooking surface to another. What’s more, the AI technology embedded in the hob can detect the temperature of cookware and automatically lower the heat when necessary, helping to minimize spills and splatter when boiling water or preparing soups and sauces.
Expanded Built-in Lineups for Diverse Kitchen Lifestyles
LG is further bolstering its built-in product lineup with the introduction of the new Signature Kitchen Suite downdraft hood. Made to integrate seamlessly into islands and countertops, the 90-centimeter (36-inch) hood offers a sleek, sophisticated look with its chic black glass and modern frame design. It also provides powerful ventilation, effectively extracting steam and odors for a more pleasant cooking experience.
Additionally, LG has expanded its portfolio of built-in appliances for the European market. Along with new products, such as an 80-centimeter (30-inch) induction hob and built-in combi refrigerators and microwave ovens, the company now provides a wider range of options within its oven lineups – from more product variation to a greater choice of colors and sizes. Among the new models are the Signature Kitchen Suite 122 centimeter (48 inch)-wide French-door refrigerator and stunning appliances from the Transitional lineup, featuring slim handles and satin stainless steel exteriors with a velvety matte finish. To help customers create a curated kitchen aesthetic, the company offers an array of new finishes for its premium built-in products, with black stainless steel and stainless steel joining the previously-introduced black glass finish.
“We are thrilled to showcase our latest built-in innovations at this year’s Milan Design Week, demonstrating our commitment to leading new design trends and meeting the diverse needs of European customers,” said Lyu Jae-cheol, president of LG Electronics Home Appliance & Air Solution Company. “LG will continue to strengthen its presence in Europe through an expanded range of built-in appliances delivering style, performance and convenience in the kitchen.”
Visitors to MDW 2024 in Milan from April 16-21 can experience LG’s latest built-in lineups at the LG booth at Milan Fairgrounds.
* Cookware recognition may vary depending on the size or number of items placed on the surface.
About LG Electronics Home Appliance & Air Solution Company 
The LG Home Appliance & Air Solution Company is a global leader in home appliances, air solutions as well as smart home solutions featuring LG ThinQ. The company is creating various solutions with its industry leading core technologies and is committed to making life better and sustainable for consumers and the planet by developing thoughtfully designed kitchen appliances, living appliances, HVAC and air purification solutions. Together, these products deliver enhanced convenience, superb performance, efficient operation and sustainable lifestyle solutions. For more news on LG, visit www.LGnewsroom.com.
 
 
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Artificial Intelligence

DataTracks Celebrates Completion of 19 Years

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SINGAPORE, April 18, 2024 /PRNewswire/ — DataTracks, a provider of cloud-based software to automate/generate compliance reports for filing with financial/security regulators to more than 28,000 business enterprises in 26 countries, celebrates the completion of 19 years of service and innovation.  Founded with a vision to make regulatory compliance “accurate, reliable, timely, and easy”, DataTracks has grown into a leading name in the industry, worldwide with cutting edge software that incorporates “artificial intelligence” aided features to reduce “time to prepare” and improve “accuracy”.

Decades of Dedication and Expertise
Over nearly two decades, DataTracks has achieved significant growth, with its software delivering more than 400,000 reports, showcasing its pivotal role in regulatory reporting. The software and service address regulations across diverse jurisdictions, including SEC in the USA, HMRC and FCA in the UK, Revenue in Ireland, CIPC in South Africa, ACRA in Singapore, MCA in India, SSM in Malaysia and ESMA, EBA, and EIOPA in Europe. 
DataTracks distinguishes itself in the industry
(a) with its global footprint (preferred by business enterprises whose regulatory obligations are spread across multiple jurisdictions)
(b) with its state-of-the art software that incorporates “AI/ML” features and
(c) with its credentials for information security (including ISO 9001:2015 and ISO 27001:2013 certifications)
Addressing the employees and spouses in a town hall meeting to celebrate the event, Vinod P John, President of DataTracks said: “We are happy to start our 20th year in the industry. I have to thank the 28,000 clients who trust us and the several hundred employees who developed our software and who helped customers (and our internal team) prepare compliance reports for reaching this milestone.  We’ve always believed in leveraging technology to make regulatory compliance as easy, quick, timely, and accurate as possible for our clients.  Our continuous investment in AI and machine learning is a testament to this belief, and it’s what keeps us at the forefront of the industry.”
Looking ahead, DataTracks is ready to address upcoming mandates such as the DATA Act and FTA in the US as well as the MBRS/XBRL mandate by SSM in Malaysia.
About DataTracks
DataTracks is a Singapore-based globally renowned leader in providing cloud-based regulatory compliance software for self-use and “black box services” using the same software, catering to 28,000 clients across 26 countries. In 19 years DataTracks has helped its client enterprises prepare more than 400,000 compliance reports for filing with financial/security regulators in several jurisdictions. Financial analysts have rated the quality of reports generated using DataTracks as top of industry for quality; significantly above that of several of its competitors.  For further information, visit www.datatracks.com.
For Business Enquiries: Email: [email protected]; Phone: Singapore: +6531582850, US: +1(646)9048324, UK: +44(0)2036088035
Media Contact: [email protected] 
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