Today, we are discussing Computer Vision applications, one of the most impactful AI-powered technologies that is reshaping our world, with Oleg Goncharenko, the CEO of Alltegrio. Oleg has been an entrepreneur for over 25 years and built a successful 8-figure software service company, as well as a few more innovative tech projects.
Alltegrio is Oleg’s AI development-focused company that specializes in creating AI and Machine Learning-powered custom solutions for businesses worldwide. Over the 10+ years of Alltegrio’s existence, the developers completed quite a few Computer Vision projects.
In this article, Oleg will share with us his insights into the growth of Computer Vision technology and its impact on different industries. Read on to learn how this tech affects our lives daily and what businesses must invest in it to stay compliant with evolving regulations.
What is Alltegrio’s expertise in Computer Vision?
AI Computer Vision is one of the most common demands in AI development. However, it’s crucial to note that many clients looking for AI and ML solutions don’t even realize they need Computer Vision services. That’s why spreading awareness about this technology and its actual role in the apps we use daily is so important.
It’s also important to understand that many of these solutions aren’t strictly full-scale Computer Vision applications. This technology is usually only a part of a more complex solution.
At Alltegrio, we worked on many projects that included some Computer Vision components, and they cou;dn’t have been more different from each other. Some Computer Vision examples from our practice are:
- Sports Analytics Solutions
We created several products for sports analytics companies that can analyze game footage and evaluate athletes based on it. These tools use Computer Vision technology to analyze visuals and specifically trained ML algorithms to understand data input and predict the player’s fitness levels, performance, injury risks, etc. This analytics solution is used for recruiting, betting forecasts, and even by coaches to improve strategies.
- Selfie-Processing for E-commerce
One of my favourite projects was the app we created for a major beauty products retailer. It fully realized the Computer Vision definition, meaning we created an app that could ‘see’ and understand selfies taken by customers. Then, generative AI joined in and offered the user personalized skincare suggestions based on the image analysis.
- OCR Solutions for Receipt Processing
Our number one request that uses Computer Vision services is receipt-processing automatization tools. We’ve created several for invoice and receipt processing for retail and logistics businesses. These apps use cameras, like the one on your phone, to process images and enter receipt data directly into your bookkeeping software. It’s highly convenient and saves tons of time.
In which niches does Computer Vision show the fastest ROI?
From our experience, clients who are able to get good ROI on their Computer Vision applications come from retail, logistics, and manufacturing industries. It’s because, in these niches, this technology can offer major improvements and process optimizations. Therefore, the client can experience the benefits it offers right away. For example:
- In manufacturing, Computer Vision solutions can be used for automated and precise defect detection, saving the user from millions of losses caused by recalls.
- In logistics and warehousing, Computer Vision technology is used in tools that manage automated sorting and real-time parcel tracking. This immediately reduces losses on lost and damaged cargo and speeds up deliveries.
- In retail, we’ve already talked about receipt-processing automation. Still, Computer Vision models can also be used in inventory management, warehouse optimization, and automation. They are also integral for checkout-free stores.
Where is Computer Vision most important for security?
Did you think about the fact that every time you unlock your iPhone, you are using a Computer Vision application? Facial recognition is now an essential part of security systems, and it’s powered by this exact technology. I’d say that in terms of security, Computer Vision solutions are now crucial to the critical infrastructure and public security sectors.
These solutions literally manage access to our most vulnerable and important services. Any business or state-funded organization that wants to ensure the highest level of security must use Computer Vision services in some capacity today.
Which emerging niche is relying most on real-time Computer Vision solutions?
I’d say that Computer Vision technology had the most profound impact on the development of autonomous vehicles and drones. To put it simply, no machine can move by itself without using Computer Vision solutions. Smart city technologies, like smart traffic lights and pedestrian safety systems, also can’t function without specialized AI Computer Vision tools.
In what niches has using Computer Vision become a regulatory requirement?
AI technology, as a whole, is a murky area in terms of legal regulations. As the tech is so new, governments are only now mobilizing to manage it with proper regulations. Therefore, it would be incorrect to say that Computer Vision technology is a mandatory requirement from the legal standpoint.
However, Computer Vision models are indispensable to ADAS (Advanced Driver Assistance Systems) installed in modern vehicles. Those systems must undergo rigorous testing to ensure they are safe and efficient enough to be licensed for use in traffic conditions.
Moreover, Computer Vision apps used for quality control in food production and diagnostics in healthcare applications also fall under strict quality testing regulations.
Which industry faces the greatest risks without using Computer Vision?
Computer Vision solutions impact many industries and can have an impact on life-and-death situations. In my personal opinion, the industry that faces the greatest risks without advanced AI Computer Vision tools is self-driving vehicle production. In this case, the industry itself won’t exist without this technology.
What business benefits does Computer Vision bring?
Computer Vision projects can be extremely versatile, but all of them contribute to business success in similar ways. Those are:
- Improving customer experiences
- Reducing labor costs via automatization
- Streamlining workflows through many levels of the business
- Reducing the number of errors and losses associated with them
- Increasing safety in many areas (self-driving cars, warehouses, transportation, crime monitoring, etc.)
All in all, I cannot stress enough the importance of Computer Vision applications for our future. And I’m anxious to see what else we will achieve with this technology.
Featured/Top Image by Garik Barseghyan from Pixabay
