Milestone Systems will increase innovation capacity by 45% by 2019 year-end and deliver on its promise to develop unique innovations that will meet future market demands in six key long-term innovation areas. These innovation investments will take place in multiple locations between Copenhagen, Sofia and Barcelona.
The objectives of this investment are to increase development capacity of disruptive innovations within deep driver integration, advanced rendering, IoT and metadata sources, online services, advanced data management and Milestone Systems’ platform software development kit (SDK). The results of which will accelerate Milestone System’s leading position in enabling the processing of video and data from solution partners who use neural networks, deep learning and AI technologies.
Executives expect Internet of Things (IoT) and AI to bring about the biggest change; 73% say they are investing in IoT and 54% in AI
Increase in demands for smart solutions
“Market trends are changing at accelerated rates towards device aggregation, artificial intelligence and visual intelligence augmentation. We believe that by increasing our development capacity within these disruptive innovation areas, Milestone Systems will be able to enable our partners with new market growth opportunities,” said President & CEO Lars Thinggaard, Milestone Systems.
According to The World Economic Forum, more than one trillion sensors will be connected to the Internet by 2022. Alongside the development of these market trends, the demands for smart solutions and machine learning technologies increase. Executives expect Internet of Things (IoT) and AI to bring about the biggest change; 73% say they are investing in IoT and 54% in AI (PwC Global Digital IQ Survey).
Offering an innovative video technology platform
As part of the long-term innovation investment, Milestone Systems will partner with leading technology companies on the development of Imaging of Things frameworks to connect, aggregate and secure the ecosystem of IoT devices and frameworks.
“Milestone Systems wants to be part of every video installation in the world. To do this, we must be able, to offer the most innovative Video Technology Platform which can enable our partners to address the wide range of challenges that our end-customers are facing. We want to push our technology beyond security in areas such as smart buildings and cities where our video technology can play a vital role,” says Chief Technology Officer Bjørn Skou Eilertsen, Milestone Systems.