Isn’t it fascinating how our brain processes the vast amounts of information that we receive throughout the day? Our sensory organs convert information into stimuli as they process the information they receive.
Complex processes like recognizing and detecting objects require only a split second of the brain’s attention. A computer can replicate human vision using innovative AI solutions as time progresses. With this technology, computers can do more and more tasks that are traditionally performed by humans.
In today’s world, computer vision technology automates operations, improves performance, improves quality control, and helps businesses generate more revenue. Are you wondering what new tech can do for your business? The following list has been hand-picked to boost your business with computer applications.
What is Computer Vision?
In computer vision, digital visual content, such as photos and videos, is identified, classified, and analyzed by computers. Normally a computer is taught by feeding it a huge number of images, so it can recognize patterns from the data, and CV aims to recognize all kinds of patterns from pictures.
Essentially, this involves teaching machines to “see,” “understand,” and “process” visual information more accurately than humans are capable of doing.
Computer Vision as It Stands Today
Convolutional neural networks (CNN) are special neural networks that are used in modern computer vision algorithms to analyze digital content. Every pixel of an image is processed, each pattern is captured, and these networks memorize each pattern. An output that is more likely to be accurate depends on how many images the system scans.
Security
Since security currently depends on the precision and attention of humans, CV represents a revolution in surveillance technology.
Maintaining a decent level of security on an object or managing traffic can be tiring for humans. A human’s attention span on average is 8 seconds, according to a study conducted by Microsoft. For someone dealing with security issues, this can be critical because we are frequently distracted.
As computers have become increasingly capable of analyzing data via high-tech computer vision techniques, it is becoming easier for them to identify and analyze objects.
Transportation
If you were asked to think of Batman or other sci-fi movies, what images would you come up with? The car might be self-driving, or something new and high-tech.
People and businesses around the world now have access to this real-life solution that was once only a science fiction dream. By using CV, vehicles learn traffic rules and avoid obstacles without the driver’s involvement.
Sports
Because sports are all about motion, they are excellent fields for CVs. The NBA has used computer vision technology since 2009 to record player and ball movement, analyse actions, and identify players and balls. Using gameplay analysis to identify weaknesses and create better gaming experiences is a great benefit for coaches and players.
Real Estate
With CV, clients can find the right property for them, take real-time tours, and get an idea of accommodation costs. In order to find the property with the best value-to-quality ratio, the machine compares the house’s value to its characteristics, including its size, number of floors, and number of rooms.
What are the applications of computer vision?
We can move on to the list of areas where you can apply computer vision to scale your business as soon as you are aware of how computer vision is advancing.
On the surface, computer vision might appear to be a complex and expensive technology available only to large enterprises. In reality, it is a myth. Your business will benefit from computer vision if you stay focused on your customers’ needs and wants, and revenue won’t lag behind.
Computer Vision in Healthcare
1 – Improving the Accuracy of Diagnosis
Using computer vision to help medical workers diagnose accurately is one example of how it can be used in healthcare. This machine is capable of scanning, analyzing, and detecting a vast range of diseases and tumors with impressive precision, among them cancer.
A CV-based solution can also diagnose and suggest treatment based on X-rays, CT scans, and MRIs in order to detect certain symptoms.
Researchers at UCF’s CV Research Center developed a CV solution for detecting faint specks of lung cancer in CT scans, something radiologists could not even detect. There is a 95% accuracy rate for this system, while 65% accuracy is found for humans. By analyzing CT scans and detecting tumor patterns, engineers taught the system how to find the patterns.
Women during childbirth can benefit from CV, according to researchers at Orlando Health Winnie Palmer Hospital. This solution would have made it impossible for medics to know how much blood had been lost during labor without it. Medical professionals are able to properly treat patients thanks to CV applications.
2- Health Monitoring Software
Smartphone users have access to more than just medical diagnostics.
“Aysa” was designed to help people identify skin diseases and check their skin condition using only their phones’ cameras. In just a few clicks, Aysa collects a photo of a user’s skin concern, compares it with 120 000 medical images, and then offers customized information, possible diagnoses, and next steps.
Computer Vision in Automotive
1- Self-driving Vehicles
Autonomous vehicles, such as those offered by Uber and Tesla, have probably caught your attention. Computer vision is key to these cars – there are many cameras installed to analyze and understand the environment, and to detect obstacles and people along the way.
This use case is, however, not the only one that can benefit from computer vision. In the automotive sector, computer vision software can be used to analyze the body and eyes movements of drivers and detect inattention.
2- Route Predictions
The automotive industry is going to be transformed by AEye – a US software development company. They have developed a CV solution that uses military-spec technology to detect objects and people on the route, as well as predict how they may move or behave in the future.
Investors including Subaru, Intel, LG, and Airbus Ventures have already invested $19.4 million in AEye.
Computer Vision in Retail
1- Contactless Payment Systems
The retail industry is expected to undergo a revolution thanks to computer vision technology. Suppose you are going to the grocery store to get foodstuff for the family dinner, and when you pay for your purchase you don’t have to wait in a long line. Let CV handle your purchase by processing your purchase after you have taken all the necessary items.
With Bossa Nova Robotics, a US-based smart robot provider, you can check the price tags and the register prices without touching anything. They scan inventory and ensure that discounts and prices are applied correctly, improving the customer experience. There are already $69.6 million in funding raised by bossanova robotics from the largest retailers in the world.
2- Personalized Promo Campaigns
The Swiss company Advertima uses CV to discover new retail solutions based on customer behavior. By using its services, retailers are currently generating nearly 10% more revenue than they used to. Businesses could create personalized promotions and discounts for their clients by understanding their target audience better.
As well as cashierless checkout solutions, Advertima offers solutions to track customers, and products, and detect human activity. By using this CV solution, long queues can be eliminated and manual checkouts can be eliminated. A $26.1 million investment has already been raised from investors for this CV solution company.
Computer Vision in Manufacturing
As factories become more efficient, autonomous, and safe, computer vision technologies are actively implemented.
1- Improved Quality Control
By scanning products for breakdowns and defects, machines combined with computer vision can replace quality control functions. As automation replaces human intervention in manufacturing and surpasses human capabilities, it becomes safer and faster. Using computer vision algorithms, the system analyzes images from the camera in order to predict potential problems.
2- IoT Software
Manufacturing-related Internet of Things (IoT) was created by Allerin, one of the leading software solution providers. Through IoT, workers can access all the pertinent information, improve production management, and perform predictive maintenance at every stage.
In order to prevent breakdowns and excessive energy consumption, manufacturers use predictive analysis. Whenever the machinery is repaired in advance, equipment costs are reduced. In addition to IBM, HPE, Predix, and ThingWorx, Allerin collaborates with other partners as well.
Computer Vision in FinTech
A close relationship between a fintech company and its clients or partners is achieved through the use of artificial intelligence, machine learning, and data science solutions. Digital codes and KYC (Know Your Customer) are two options that can be applied to fintech in terms of computer vision software.
1- Contactless Payment Systems
ATMs can be used without cards using digital codes. Rather than using a physical card, customers receive a digital code on their smartphones when they visit an ATM. Frauds may be reduced and security may be enhanced through this process.
2- KYC Procedures
By taking a selfie or making a video call, customers can verify their accounts. You don’t have to wait several days for your results at the bank if you verify your account online instead. By using CV software, it will only take a few hours. The customer won’t have to wait in a queue, and the banks will save time and effort.
3- Software for Text Extraction and Analysis
In order to automatically extract documents and decipher handwritten texts, Hyperscience has developed computer vision software. It is extremely difficult to find the right document in financial institutions because there are tons of them. A solution developed by Hyperscience is a CV algorithm that analyzes and reads documents, classifies incoming records, and extracts data from a variety of documents.
The investors contributed $60 million to Hyperscience by July 2020. In addition to Anika Systems, Blue Turtle, Hexaware, Productive Edge, Softomotive, and others, the company has already partnered with a number of big tech companies.
Your Business Can Grow With Innovative CV Solutions Providers
As you can see, companies of all sizes and industries can use computer vision applications today. It may be time to learn about AI software if you have a problem you can’t seem to solve. Model-neutral computer vision training data solutions are available from companies in the AI space such as Cogito, Anolytics, and others.
