POINT ROBERTS, Wash. and DELTA, British Columbia, March 06, 2019 (GLOBE NEWSWIRE) -- Investorideas.com, a global investor news source covering Artificial Intelligence issues a special edition of The AI Eye, looking at how artificial intelligence is playing a key role in the evolution of image recognition technology for marketing, advertising and security.
According to Grand View Research, “The global image recognition market size is expected to reach USD 77.69 billion by 2025, reporting a 19.2% CAGR during the forecast period.”
Continued: “Image recognition technology plays a crucial role in information technology (IT) and online visual revolution, owing to growth in digitization. Rising popularity of media cloud services and mobile devices equipped with cameras has resulted in the growing trend of experience sharing on the web. This, in turn, has resulted in increased digital data, particularly unstructured multimedia data, which majorly comprises images and videos.”
Image Protect Inc. (OTC: IMTL), a global leader in the end-to-end copyright Infringement sector, is posturing for this growing sector, having announced that it has begun to on-board world famous celebrity photographer, Idris Erba as a partner and client. Mr. Erba’s exclusive A-list celebrity clientele portfolio includes Jamie Foxx, Floyd Mayweather and Cristiano Ronaldo, among others.
Management notes that idriserba.com generates millions of hits annually due to the high-profile subjects depicted and the renowned quality of Mr. Erba’s visual art. The IPShare App is designed and built to monetize such a site by way of In-Image advertising, a rapidly growing ad sector that is estimated at over $50 billion in total size.
In-Image advertising relies heavily on image recognition - a market that could be worth nearly $39 billion by 2021. Using Artificial Intelligence, Image Protect streamlines image registration, management, protection and distribution, allowing content creators to benefit from new revenue models and faster payments.
On the partnership, Idris Erba stated, “This is going to be a game-changer for brands and influencers alike. With IPShare, the entire Internet is fair game for the monetization and protection of celebrity content.”
Also in the sector, ICOx Innovations Inc. (TSXV:ICOX.V) (OTC: ICOX) recently announced that its client, the blockchain-based KODAKOne Image Rights Management Platform and the KODAKCoin cryptocurrency, has generated post-licensing cases valued at over $1M since the Post-Licensing Portal component of the KODAKOne Platform went live in private beta in October 2018.
The KODAKOne PLP has already generated 1,667 new cases since its beta launch in October. Executives from ICOx Innovations, KODAK and KODAKOne’s creator RYDE Holding, Inc. are attending CES, where the intention to build the KODAKOne platform was first announced, to celebrate this milestone. Under the guidance of ICOx Innovations, the platform is positioned to be a leading service provider to the image industry with the goal to help agencies and photographers protect their work, increase image sales and ensure they are fairly compensated. The beta platform is currently operational and being used by agencies including Blaublut Edition and Food Centrale, as well as numerous photographers, with multiple international customers in the pipeline for the next phase of deployment.
Going after video capture, versus images in the sector, VIQ Solutions Inc. (TSXV: VQS.V), a global provider of secure, AI-driven, digital voice and video capture technology and services for law enforcement, legal, insurance, courts, and transcription service provider markets, reported a strong finish to the year, signing significant contracts globally.
“Through our direct sales team and partnerships with trusted resellers, VIQ continues to deliver solid results," said Sebastien Paré, President and CEO of VIQ. "As our markets modernize their capture and transcription platforms, our new AI-driven solutions mean we can provide a true end-to-end solution to unlock the true value of data, realizing significant efficiency through greater process automation.”
Urbanimmersive Inc. (TSXV: UI.V) (OTC: UBMRF), reporting on its 2018 results and subsequent events reported on its entry into the sector via acquisition:
“The acquisition of Tourbuzz has allowed Urbanimmersive to have access to highly valuable intellectual property related to image recognition machine learning Artificial Intelligence image recognition projects done by Tourbuzz. The Corporation has recently announced its intention to pursue the development of this AI technology in its office of Montreal with the goal of further transforming Urbanimmersive into an even more progressive real estate content marketing company using natural text languages to assist production of storytelling contents.”
A recent article on How Visual Recognition is Set To Change Advertising in Martech Today summed up this growing future of In-Image advertising and image recognition saying, “As advertisers, we are just beginning to reap the benefits of leveraging visual recognition capabilities. As we move forward and the capability becomes more widespread and adopted, it will become a key asset.”
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