Videos are Changing the Face of Business

Now, with advances in AI and camera technology, multi-camera arrays are able to act as sensors which provide AI algorithms the best opportunity to make sense of the video information and create data from it. And because Panoramic-4K video is not distorted like in an ultra wide-angle lens, it enables AI algorithms to detect objects correctly. This ability to capture and interpret large amounts of anonymized people data is starting to unlock major productivity gains.

In the 2018 paper, “The Digitization of the World, From Edge to Core”, David Reinsel, John Gantz, John Rydning discuss AI driving even more automation into businesses, “feeding processes and engagements that will deliver new levels of efficiency and products that are tailored to business outcomes and individual customer preferences.” Companies are already leveraging data to improve customer experience, make employees and processes more productive and create new sources of competitive advantage, and cameras will vastly improve those capabilities.

For example, by knowing how many people are present or if any person is present, we can create software control signals which enable systems to automate room reservation and release, or autonomously turn off power consuming equipment when it is not needed, or analyze the seasonality and patterns of use of corporate real estate to decide how best to optimize it. Several major multinationals we work with have over 30000 collaboration spaces worldwide, so if you imagined being able to correct a 10 percent misuse rate with something like meeting room bookings, that turns out to be a pretty big deal across that business.

Just knowing something like how often and by how many people a space is used is incredibly valuable. Over the space of a year, that data repository can offer a lot of business intelligence, and with the rising cost of real estate, utilizing it efficiently is a priority for most companies, as it affects everyone’s bottom line. This is anonymized numerical data, and it gives you the basis for data-driven decision making, which has been historically very sparse in real-estate, for example. In the future, it could be used to build heat flows for architectural design, creating smarter buildings and cities, and saving businesses millions.

As Frank Bien, CEO and President of Looker said, “data is now fundamental to how people work and the most successful companies have intelligently integrated it into everyone’s daily workflow. Data is the new application.” Mary Meeker surfaced this overall rise in her 2019 Internet Trends Report, and I am most excited about the data and collaborative power of workplace video in the coming year. Whether you are looking to develop your people and organizational management, create new data streams and business intelligence, or simply boost employee efficiency, video will be the key. And while video will be essential for businesses both for their employees and customers, utilizing the data lakes available from these video cameras is where the real advantages will lie in the future.