AI to transform region’s commercial security

Commercial security will be the second largest exhibitor segment at Intersec, a trade fair for security, safety and fire protection, which will be held at the Dubai World Trade Centre next year, accounting for nearly a third of the 1,100 participants. Fire and rescue will be the show’s largest segment with over 400 exhibitors.
Short Url
Updated 31 December 2019

AI to transform region’s commercial security

The Middle East, with its predominance of critically vital hydrocarbon, energy and utility plants, needs set to become an early adopter of the latest AI-influenced identity and face recognition technology as commercial building security raises up the region’s infrastructure agenda, according to experts.

New insights from 6Wresearch estimate a 16.6 percent compound annual growth in the region’s commercial security market, which will reach $8.4 billion over the next four years, with owners and operators employing the very latest technology to ring fence their assets.

The forecasts are borne out by the commercial security sector at Intersec, a trade fair for security, safety and fire protection, which will run at the Dubai World Trade Centre (DWTC) from Jan. 19 to 21 next year. Commercial security will be the second largest exhibitor segment at the show accounting for nearly a third of the 1,100 participants. Fire and rescue will be the show’s largest segment with over 400 exhibitors.

Danish exhibitor Milestone Systems, which provides open platform video management software (VMS) technology that helps ensure safety, protect assets and increases business efficiency, says the future of commercial security will be dominated by intelligent, AI-driven solutions.

“AI is a real game-changer,” said Amine Sadi, regional sales manager, Middle East and Africa, Milestone Systems. “AI systems can analyze massive amounts of data, which is beneficial for reviewing hours of surveillance footage. By learning how objects move and what they look like, the AI applications can rank the data and make decisions based on it. Machine learning and artificial intelligence assist by analyzing data that has not been organized or labeled in advance, finding discernible patterns and helping to search for unknown output to solve problems.”

“According to the World Economic Forum, more than 1 trillion sensors will be connected to the internet by 2022,” he added.

At Intersec 2020, Milestone Systems plans to unveil the latest version of its XProtect VMS and solutions specifically targeting the safe city, transportation and retail industries. The purpose-built, high performance Milestone Husky XSeries, a high-performance network video recorder will also be showcased.

Meanwhile, Italy’s Euklis, which manufactures technological solutions for security, video surveillance, access control and telecommunications, identifies face recognition as the new industry game-changer.

“It has a relevant impact in reducing residual risk, when the intention is to make the access to a critical infrastructure or an industrial site safer,” a company spokesperson said. “The key trends shaping the future of commercial security in the Middle East will be video surveillance, access control and integrated and centralized management of security systems on a common platform.”

At Intersec 2020, Euklis will demonstrate its FaRe 3.0 Hybrid — Identity and FaCe Recognition Platform.

KAUST’s conscious investor program region’s first

Updated 24 September 2020

KAUST’s conscious investor program region’s first

King Abdullah University of Science and Technology (KAUST) has partnered with the investment platform VentureSouq, startAD, the Abu Dhabi-based global accelerator anchored at New York University Abu Dhabi (NYUAD), and its partner Tamkeen, to launch the first Conscious Investor Fellowship in the GCC. The pan-regional fellowship is a six-week virtual program dedicated to enabling regional investors in the GCC to create sustainable change through impact investments. The program, which will take place from Oct. 7 to Nov. 25, comes as part of the upcoming annual Angel Rising Symposium, to be held virtually between Nov. 24-25, which provides education and conversations on the future of the angel investment sector and how it can fuel national and regional innovation.

The fellowship aims to empower the next generation of regional mission-driven investors who will fuel emerging ventures using technology for meaningful change, resulting in a measurable positive impact. Twenty-five investors from family offices, corporate and government entities will be welcomed as fellows of this inaugural cohort, where they will learn how to identify and invest into tech-enabled impact-driven startups.

The program will cover conscious investment strategies, startup diligence and valuations, impact measurement, portfolio management, and global sector trends in the impact space. Elective thematic masterclasses will also be offered, with a specific focus on health tech, educational tech, environmental tech, and agricultural tech. Participants will be able to apply their knowledge and invest in live deals through VentureSouq’s Conscious Collective Fund. The inaugural edition is held in collaboration with the Sharjah Entrepreneurship Center and Hub71.

Hattan Ahmed, head of the KAUST Entrepreneurship Center, said: “KAUST is driven by a mission to advance research and create new technologies that address our greatest global challenge in food, water, energy, and the environment. We are starting to see more deep tech startups emerging from the ecosystem, disrupting existing industries and creating new solutions to these challenges. The Conscious Investor Fellowship is a key step to advancing this ecosystem and educating regional investors about the potential of emerging technologies and their long-term value. For Saudi Arabia in particular, there is a unique opportunity to nurture this deep tech ecosystem for real economic transformation.”

Ramesh Jagannathan, research professor of engineering, vice provost for entrepreneurship at NYUAD, and managing director of startAD, said: “Conscious investment is a growing global force, accelerated by the ongoing impacts of the global pandemic. In the UAE, and specifically Abu Dhabi, we have a unique opportunity to engage with this global trend, given that the emirate has the highest net potential wealth globally.”