Technological advancements are continuing to change the world around us. With or without your knowledge, you must have been impacted by the effects of technology in one way or the other. GPS applications, self-driven cars, automatic tag photos, and intelligent Chatbots result from artificial intelligence.
‘Computer vision solutions are among the Artificial Intelligence components that software engineers have used to develop technological solutions. It involves training machines to use vision technology to analyze and understand the visual world. Computer vision solutions give vision to devices, thus enabling them to bring life to some of the world’s most creative technologies’.
Andrei Alkhouski, Machine Learning R&D Engineer at computer vision solutions provider InData Labs
Computer vision solutions leverage computer visual data to come up with applications. Today, smartphone applications can identify animals through image analysis, food delivery is contactless, and farming is precise. Computer vision business solutions also offer businesses and organizations great promises. It’s estimated that by 2023 the computer vision market will have increased its worth to $48 billion.
This article highlights how computer vision applications have revolutionized and benefitted modern businesses.
Uses of Computer Vision in Business
There are several ways in which computer vision can be used. When merged with other technologies like virtual and augmented reality, computer vision becomes more effective. Here are some of the ways it has impacted business.
This technology has led to the invention of technological equipment used in surveillance and security systems. Facial recognition uses image analysis algorithms to identify human faces in videos and images automatically. It’s present in applications and equipment used for motion capture and photography.
Facial detection is also the technology that Facebook uses to help you identify people to “tag” in your photo collection. Retail stores use face recognition in payment portals, tracking customers in and out of the store, and monitoring inventory. Through virtual paying, customers can skip the cash register and use facial recognition to pay their bills.
Autonomous Vehicle Production
Vehicle manufacturers like Tesla and Ford are in the race of producing many autonomous vehicles. Autonomous vehicle production can only be made possible through computer vision technology. These vehicle’s systems process a wide range of visual data, including seeing pedestrians on the road and reading traffic light signs, before deciding on the appropriate action to take. Truck owners who use this technology in their tracks enhance their goods’ safety during transportation and increase productivity. It can also reduce travel time, decrease harmful emissions, and increase income.
Using computers to analyze and interpret millions of online images has helped marketers get real-time information about their target audience quicker than the traditional human approach. Besides that, computer vision is being used to control the placement of ads and ensuring contradictory ones aren’t placed near content. This technology has also helped marketers carry out online transactions quickly and securely without fearing fraud. For example, Zappos, uses digital marketing to make money through ads. Their Facebook marketing manager, Nate Luman reported that for every dollar they spend on ads they make $3.50.
The Bottom Line
Computer vision technology has benefited the business industry immensely. It has not only led to the development of advanced equipment that has made life easy, but it has also increased digital marketing effort, autonomous vehicle production and facial recognition. As it continues to grow, you’re likely to see more advances.
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