- The growing popularity of artificial intelligence-enhanced security devices and big data collection are causing a growing revolution in security technology
- Analysts at Research and Markets forecast growth in the global surveillance video market through 2026 at a CAGR of 10.2 percent in response to the evolving technological demands on the sector
- Autonomous security robot developer Knightscope recently went public on the Nasdaq Global Market with its array of models that use advanced technology to patrol and monitor client properties on a 24/7 basis – without human intervention
- A key component of the Knightscope robots’ operational capabilities is the Knightscope Security Operations Center (“KSOC”) that relays data and live-streams 360-degree eye-level video to authorized security professionals
The importance of the security industry’s evolution via the use of artificial intelligence (“AI”) and software analytics is evident in the sector’s market growth. A variety of solutions incorporating technological advances, driven by users’ growing demand for big data and AI functionality, are ushering in a new era of physical security solutions (https://nnw.fm/Blpw4).
The rising use of thermal cameras, Internet of Things (“IoT”), and smart city devices, are creating a growing list of opportunities that lead analysts at Research and Markets to predict a CAGR of 10.2 percent for the global surveillance video market between 2021 and 2026, achieving nearly $70 billion in revenues (https://nnw.fm/zJvw3).
Autonomous security robot (“ASR”) developer Knightscope (NASDAQ: KSCP) is considered a leading player in intelligent security solutions, employing a variety of stationary and mobile robots to surveil clients’ properties, anticipating potential threats to the clients’ operations, whether in the form of possible crime hazards to personnel or object hazards that may prove destructive to facilities — relaying an array of data back to the security team.
While the security robots perform many functions autonomously, the key of the Knightscope technology is the Knightscope Security Operations Center (“KSOC”). This fully functional browser-based user interface provides the managers simple access to real-time data whenever it’s needed to view and interact with the ASRs’ 24/7 flow of data stemming from facial recognition, thermal scans, automatic license plate recognition, video of people’s ingress to select areas, and more (https://nnw.fm/a1YjL).
Knightscope’s blog provides a potential scenario in which a general manager can start each workday with a feeling of security. For example, parking areas patrolled by ASRs are no longer occupied by people sleeping in cars or stairwells, and vehicle break-ins have been stopped. Operators can later tap into ASR video feeds to observe that employees are working safely and effectively, while perhaps being warned that a delivery driver is in an unauthorized area. The robot may then patrol a perimeter area and provide reports on its integrity (https://nnw.fm/E9bKR).
The scenario anticipates a number of benefits for the company, including increased employee safety and satisfaction that has resulted in fewer costs from worker compensation and wrongful termination lawsuits, fewer costs associated with training new or temporary personnel, fewer costs associated with vandalism or other types of property destruction, and fewer losses to theft.
“Robots are deployed to do the monotonous, computational heavy work while the strategic, hands-on activities are the responsibility of the humans,” Knightscope Chairman and CEO William Santana Li stated in a recent news release announcing a strategic partnership with global security and facility services company Allied Universal(TM) (https://nnw.fm/3mkFS).
Huntington Park, California Chief of Police Cosme Lozano successfully encouraged the city council to extend the municipality’s contract with Knightscope last year, stating a robot patrolling a park of concern is “not intended to eliminate or reduce the work of human police officers. It’s simply to enhance our ability to deliver police services. You can think of it if you will as a patrol vehicle, meaning that the patrol vehicle creates that presence and that extension of the police department” (https://nnw.fm/tcEmq – see 20 minute mark).
For more information about Knightscope (NASDAQ: KSCP), visit the company’s website at www.Knightscope.com and if you have a need for subscription service you may request a private demonstration of the technology at www.Knightscope.com/demo.
NOTE TO INVESTORS: The latest news and updates relating to KSCP are available in the company’s newsroom at https://nnw.fm/KSCP
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