The major innovation investment will be allocated to six key technology areas in multiple locations between Sofia, Copenhagen and Barcelona.
Milestone Systems will increase innovation capacity by 45% by 2019 year-end and deliver on its promise to develop unique innovations that will meet future market demands in six key long-term innovation areas. Part of this investment will be allocated to the company’s Sofia office.
The objectives of this investment are to increase development capacity of disruptive innovations within deep driver integration, advanced rendering, IoT and metadata sources, online services, advanced data management and Milestone Systems’ platform software development kit (SDK). The results of which will accelerate Milestone Systems’ leading position in enabling the processing of video and data from solution partners who use neural networks, deep learning and AI technologies.
“Market trends are changing at accelerated rates towards device aggregation, artificial intelligence and visual intelligence augmentation. We believe that by increasing our development capacity within these disruptive innovation areas, Milestone Systems will be able to enable our partners with new market growth opportunities,” said President & CEO Lars Thinggaard, Milestone Systems.
Innovation beyond security
According to The World Economic Forum, more than one trillion sensors will be connected to the Internet by 2022. Alongside the development of these market trends, the demands for smart solutions and machine learning technologies increase. Executives expect Internet of Things (IoT) and AI to bring about the biggest change; 73% say they are investing in IoT and 54% in AI (PwC Global Digital IQ Survey). As part of the long-term innovation investment, Milestone Systems will partner with leading technology companies on the development of Imaging of Things frameworks to connect, aggregate and secure the ecosystem of IoT devices and frameworks.
“Milestone Systems wants to be part of every video installation in the world. To do this, we must be able, to offer the most innovative Video Technology Platform which can enable our partners to address the wide range of challenges that our end-customers are facing. We want to push our technology beyond security in areas such as smart buildings and cities where our video technology can play a vital role,” says Chief Technology Officer Bjørn Skou Eilertsen, Milestone Systems.
About Milestone Systems
Milestone Systems is a leading provider of open platform video management software; technology that helps the world see how to ensure safety, protect assets and increase business efficiency. Milestone enables an open platform community that drives collaboration and innovation in the development and use of network video technology, with reliable and scalable solutions that are proven in more than 150,000 sites worldwide. Founded in 1998, Milestone is a stand-alone company in the Canon Group. For more information visit: www.milestonesys.com. For more news and viewpoints visit our microsite: : The Milestone Post. Click here for information on Trademarks.