AI video is not just getting smarter and more accurate, the list of applications and benefits is also growing. And, as economic pressures bite, those benefits are needed now more than ever.
While the global economic outlook remains uncertain, as advanced economies grapple with inflation, labour shortages and financial market disruption, prospects across the Middle East are much more encouraging.
GCC countries in particular remain insulated by increased oil revenues, protecting many from the inflationary pressures challenging the West and parts of Asia. According to the IMF inflation in the Gulf will reach just 3.1% this year – compared to the price increases closer to double digits seen elsewhere.
After a year of rebounding from the pandemic and despite the economic headwinds swirling around us, the outlook decidedly does remain optimistic for 2023.
The cannabis sector across North America is going through a period of significant transformation. Powered by a huge spike in sales at the beginning of the COVID-19 pandemic and a swell of public support for the legalization of the drug, cannabis operators are currently enjoying impressive levels of growth.
This month Pete Dowsett shares his thoughts about CCTV pitfalls to avoid – Pete, who has many years of experience in the industry, is the Installation Manager for Bristol-based KIS Fire & Security in the UK
US small- to mid-businesses are feeling the effects of labor shortages according to the National Federation of Independent Businesses.
For hotels, positive customer reviews online have become crucial. Where business travel is concerned, most organizations now operate without travel departments, leaving staff to choose and book hotels themselves. Leisure travelers continue to shift away from package holidays with many preferring to design their perfect trip by searching out hotels and flights separately.
End users everywhere are catching on to the many benefits to be had from AI Boxes. Accurate deep-learning technology comes complete with a host of new capabilities that extend well beyond the traditional security applications of surveillance cameras. Sure, cameras are still relied upon for safety, risk management and loss prevention, but their intelligent deep-learning abilities allow for even wider uses, and AI Boxes are now enabling those same cameras to deliver a whole lot more value.
After enduring the severe impact of the COVID-19 pandemic, India is now going through a staggering economic transformation and bounce back.
New policies implemented by Prime Minister Narendra Modi’s government are helping India to realise its potential as one of the world’s fastest growing economic superpowers.
Soaring inflation and slow growth, supply chain shortages, and a cost-of-living crisis - amid a news cycle of conflict and geo-political tensions - should spell bad news for brick-and-mortar retail.
But there are some positives to hold onto. Against a backdrop of doom and gloom consumers tend to seek feel-good and positive experiences. And some analysts are reporting that smaller, independent, retailers are holding onto increased sales from consumers who got into the habit of shopping locally during lockdowns.
The pandemic presented economic hardships for many sectors, and the hospitality sector ranked high on the list. Hotels were hard hit, as travel came to an abrupt halt, and hotels rooms were left largely unoccupied. Thankfully, there’s been a resurgence in travel and, according to a recent Statista report, an annual growth rate (CAGR 2022-2026) of 10.8% is forecasted for hotels, which translates into a projected market volume of close to $118 billion by 2026.
For most users, NVRs and PC servers are still the most popular and cost-effective choice for video storage, and we don’t see that changing. Demand for storage continues to grow, indeed it’s rising exponentially.
What’s driving this rising demand? Only a couple of years ago customers wanted to upgrade to Full-HD; today 5MP cameras are starting to become the norm. And we see more cameras transmitting richer content, for example the high-resolution 4K and 8K footage needed for perimeters and wide area monitoring and playback; and streaming the metadata needed for the new wave of AI-powered analytics and search tools, with all their benefits.
Schools across the U.S. are putting their money where their concerns are and increasingly investing in new security technologies to create safer environments for our nation’s schoolchildren. This investment trend is evidenced in a 2020 study conducted by global research leader Omdia on behalf of the Security Industry Association (SIA). Their report showed that the market for physical security equipment in K-12 and higher education was estimated at $716 million in 2020 with the K-12 segment accounting for around 56 percent of the total spend. Schools are clearly looking to improve their physical security defenses and video systems figure largely in strengthening that arsenal.
2021 ended on a high for the retail sector overall compared to the previous year, with various reports suggesting a 21% to 25% increase in footfall. Much of the loss made amid the surge in Omicron was offset by a big bounce back as shoppers headed out to the January sales.
Despite the impact of COVID-19, the Middle East banking sector is the midst of an exciting transformation. As oil prices dipped, the need for diversification particularly for financial institutions became even more imperative and any reticence around the modernisation investments faded. At the same time, the sector has acted swiftly to tighten compliance, to counter misplaced global perceptions that Middle East banking regulations are lax when it comes to money laundering and terrorist financing.