My first exposure to artificial intelligence applications was in 2019 with vision technology. Simply put, when machines “see” the same way that humans do, an abundance of tasks can be automated with superior outcomes to traditional human discretion.
In today’s newsletter we explore recent and past implementations of advanced vision technology, discussing the industries they are impacting.
Orchard vision system - turning farm equipment into AI-powered data collectors
Agricultural robotics have been around for a while, with systems that can pick apples and berries, kill weeds, plant trees, transport produce, and more. However, the real value of these products lies not just in their automated functions, but in the data collected by their on-board sensors. This data can provide farmers with actionable information to improve their crops and increase yield.
One company that is taking a unique approach to this is Orchard Robotics. Rather than creating a fully automated system, Orchard has developed a sensing module that can be attached to existing farm vehicles, such as tractors. This lowers the barrier of entry for farmers who may be interested in the benefits of agricultural robotics, but are put off by the high cost of fully automated systems.
Orchard’s system is initially focused on apple crops. The system’s cameras can capture up to 100 images per second, collecting information about every tree it passes. This data is then used by Orchard’s software, which utilizes AI to build maps of the crops. These maps include information about every bud and fruit on every tree, as well as their distribution and the hue of the apples.
According to Orchard’s founder and CEO, Charlie Wu, “Our cameras image trees from bud to bloom to harvest, and use advanced computer vision and machine learning models we’ve developed to collect precise data about hundreds of millions of fruit. This is a monumental step forward from traditional methods, which rely on manually collected samples of maybe 100 fruits.”
The maps created by Orchard’s system are also GPS-enabled, allowing farmers to see the location and size of every tree, within a couple of inches. This provides farmers with a more complete picture of their crops’ success rate.
AI-powered parking platform: Metropolis
Metropolis is an AI-powered parking platform that aims to transform the paid parking experience for drivers and real estate owners.
Metropolis’ computer vision platform, centered around the Orion system, enables a seamless, “drive-in, drive-out” parking experience by automatically recognizing vehicles and handling payment and access control, all while continuously improving through machine learning
Customers simply provide their vehicle information and payment method, and Metropolis automatically charges them as they enter and exit a parking facility. The core usage of their vision technology seems to be capturing images of license plates in varying degrees of condition difficulties.
For real estate owners, Metropolis provides data-driven insights to optimize pricing, staffing, and maintenance of parking facilities. It also allows them to offer digital validations and promotions to tenants and local businesses.
Metropolis has been expanding rapidly, recently acquiring parking operator Premier Parking and announcing a $1.7 billion deal to acquire SP Plus Corporation, one of the largest parking management companies in North America.
Metropolis is an ambitious startup aiming to modernize the parking industry through its AI-powered platform and integrated operations model. Its recent acquisitions and funding suggest it is well-positioned to continue expanding its reach and capabilities.
Tractable — AI in insurance claims processing
Tractable is a technology company focused on the accident and disaster recovery process for the insurance and automotive industries. By using computer vision technology, Tractable can quickly and accurately assess damage to vehicles and property, allowing for more informed decision-making resulting in faster claims processing.
One of the key benefits of Tractable’s technology is its ability to accelerate the claims process for insurers. By analyzing photos of vehicle damage, the AI can determine if a car is repairable or requires a full payout, helping customers get back on the road faster. The technology is also useful for automotive companies, leasing firms, and salvage yards, as it enables more accurate assessments of vehicle condition, even for cars located remotely.
Tractable is also expanding its technology to assess property damage from natural disasters, allowing insurers to provide faster and more accurate estimates for homeowners filing claims. The company has experienced rapid growth and adoption, with over 600% revenue growth in the past 24 months and major insurance clients such as GEICO, Tokio Marine, and Covéa. Tractable recently achieved unicorn status with a $1 billion valuation and plans to further expand the applications of its AI technology in the future, exploring opportunities in sustainable business practices and intelligent fleet management.
In summary
The use of AI vision technology continues to disrupt industries from agriculture to parking to insurance. By enabling machines to “see” and interpret the world in the same way that humans do, these systems are able to automate tasks, provide valuable data, and allow for more informed decision making.
Companies like Orchard Robotics, Metropolis, and Tractable are at the forefront of this trend, using AI vision technology to improve efficiency, accuracy, and customer satisfaction. As these companies continue to grow and expand their capabilities, it is clear that AI vision technology will play an increasingly important role in shaping our future.
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