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MESA, Ariz, July 02, 2019 (GLOBE NEWSWIRE) -- Iveda® (OTCMKTS:IVDA), worldwide enabler of cloud-based video surveillance, data management and AI-based video analytics through its Sentir® and IvedaAI™ platforms, today announced a successful pilot of its IvedaAI intelligent video search technology in Metro Manila. The paid pilot was conducted with Filcomserve, Iveda’s exclusive technology partner in the Philippines and Orange I.T., a solutions provider. They are now working with Iveda to procure additional IvedaAI appliances to fulfill the requirements of Caloocan City.
“We have several surveillance AI vendors offering and providing proof of concept but IvedaAI is the most effective, easy to use and very much cost effective," said James Lao, Director of Caloocan City Disaster Risk Reduction Management Office (CDRRMO). "AI applied to our existing surveillance system is an essential solution to improve our safety and security monitoring.”
Using existing street cameras, IvedaAI was successfully tested in busy intersections in Caloocan, one of the 17 cities in Metro Manila. The city is currently managing 150 outdoor cameras in 90 different locations and 50 indoor cameras inside Caloocan City Hall.
“Based on a total of 200 cameras in Caloocan alone, potential IvedaAI revenue is approximately $550,000,” said David Ly, CEO of Iveda. “Potential revenue to provide the same solution to all 17 cities in Metro Manila is projected to be $9.35 million over the next two years.”
Caloocan will utilize IvedaAI’s License Plate Recognition (LPR) and vehicle wrong direction functions in major intersections and roads throughout the city. They will also utilize IvedaAI’s facial recognition, people counting and intrusion detection capabilities in Caloocan City Hall’s entry and exit points, street markets and crowded areas.
The main users of IvedaAI will be Caloocan City Hall Internal Security Group, Traffic Group and Rescue Division.
“We are transforming one city at a time into “smart cities” and Iveda has provided us the best technologies that actually work, and our cities can afford,” said Lino Barte, CEO of Filcomserve.
Iveda is at the forefront in this effort to provide the cities with the necessary technologies for their digital transformation.
“Smart Cities need more than just security technology. It must embrace the IoT movement. We are empowering cities with our proprietary AI-based, IvedaIoT platform that can manage a variety of sensors throughout the city to aid administrators and officials in making prompt decisions for immediate action,” said Ly.
The intelligence within the technology will trigger actions when physical human intervention may not be timely enough, through a rule-based “what if” scenario. A smart city equipped with sensors and a platform that can manage all the sensors, send alerts and take corresponding actions remotely will save time and lives — more safely and more cost effectively.
The combination of a variety of sensors placed strategically throughout the city, will allow automatic and remote shut off of a water valve, thermostat adjustments, dimming of lights, cutting electricity to equipment, management of load controllers and switches, or calling a caregiver when an elder has fallen.
In a separate, concurrent project, Iveda is engaged with its telecom and utilities partners in the Philippines to help them offer more digital services to their end-customers. Such offerings will consist of Iveda Smart home and Smart Building services, leveraging the IvedaIoT management platform and IvedaAI.
“Our app framework for iOS, Android, Web, Alexa & Google Home enables the rapid deployment of IoT services by our partners,” said Ly
Iv eda and Sentir are registered trademarks of Iveda Solutions, Inc. IvedaAI is a trademark of Iveda Solutions, Inc. All other trademarks are property of their respective owners.
Iveda® (OTCMKTS:IVDA) enables service providers a plug-and-play cloud video surveillance offering and intelligent video search technology with its Sentir® and IvedaAI platforms. Iveda utilizes proprietary video streaming, Big Data storage and AI-based video analytics technology. Iveda has a SAFETY Act Certification from the Department of Homeland Security as a Qualified Anti-Terrorism Technology Provider. Headquartered in Mesa, Arizona, with a subsidiary in Taiwan, Iveda is publicly traded under the ticker symbol “IVDA.” For more information call (480) 307-8700 or visit www.iveda.com. To follow Iveda visit www.facebook.com/ivedasolutions,www.twitter.com/ivedasolutions or www.linkedin.com/company/iveda-solutions.
This release includes forward-looking statements. Actual results may vary materially from those expected. All forward-looking statements made herein are qualified by such risk factors, and readers are advised to consider such factors carefully. Iveda undertakes no obligation to revise these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Luz A. Berg
Chief Marketing Officer & GM