Iveda Unveils vumastAR: Turning Everyday Devices into AI Assistants

Rhea-AI Summary

Iveda, the global solution for cloud-based AI video and sensor technologies, has launched vumastAR, an AI vision software designed to improve productivity and efficiency while reducing human error. The software is compatible with various smart devices and can be customized to meet specific industry needs. Iveda will sell vumastAR as a license per device with a monthly subscription requirement for cloud access to trained AI models. The global augmented reality market is projected to reach upwards of $1.1 trillion by 2030.

Positive

• VumastAR leverages IvedaAI's advanced video search technology to digitalize workflows, improving decision-making and minimizing biases.
• The software can be tailored to meet specific industry needs, such as quality and maintenance exams, factory and line work, pharma, supply chain, manufacturing, transportation, and retail.
• VumastAR works on all Android devices without specialized hardware or extensive training, making AI technology accessible to a broad range of users.
• The software can work offline and connect to local servers, addressing cybersecurity concerns and ensuring functionality in remote locations without internet access.

Negative

• None.

AI software adds brain power to your camera; improves productivity and efficiency, reduces human error, and enhances safety and security across industries

MESA, Ariz.--(BUSINESS WIRE)-- Iveda® (NASDAQ:IVDA), the global solution for cloud-based AI video and sensor technologies, today unveiled the launch of vumastAR™, (pronounced “view master”) an AI vision software designed to make day-to-day tasks easier than ever before. Iveda’s next-generation, customizable AI system is compatible with most smart devices––from smartphones and tablets to IP cameras, augmented reality (AR) glasses, and more––taking human skills and ability to the next level through the power of artificial intelligence. With use cases spanning industries, vumastAR’s state-of-the-art technology greatly reduces human error, enhances safety, improves security, and optimizes work performance, empowering employees––from pharma and retail, to manufacturing and logistics––to work smarter, not harder. Iveda will sell vumastAR as a license per device with a monthly subscription requirement for cloud access to trained AI models.

According to Fortune Business Insights, the global augmented reality market is projected to reach upwards of $1.1 trillion by 2030. VumastAR leverages IvedaAI’s advanced video search technology to digitalize workflows, taking human capability to new heights, all while delivering valuable insights, minimizing biases, and enhancing decision-making. The technology can be tailored to meet specific industry or user needs for companies looking to boost productivity and efficiency and accomplish daily tasks with ease and with minimal error.

The software’s inherent customizability means that vumastAR can be deployed for a wide range of use cases:

• Quality and Maintenance Exams: vumastAR has the power to assist with critical measuring of carcinogenic chemical compound levels, electrical wiring, and welding inspections.
• Factory and Line Work: Fast and accurate machine recognition enables itemized counting, inventory audits, and assembly kitting.
• Pharma: Accurately identify and quantify medication, greatly reducing the manual labor of counting pills while eliminating human error.
• Supply Chain: Detect defects and anomalies for improved accuracy, increasing bottom line by actively reducing lost revenue incurred from manual mistakes.
• Manufacturing: Digitalize meter and gauge reading and monitoring, as well as part number identification, with the ability to turn analog information into digital data
• Transportation: Enhance safety and security for operations including loading and unloading tanker trucks, protecting both personnel and products / equipment.
• Retail: Ensure correct item identification and organization, providing increased accuracy for retail checkout and product categorization, ultimately impacting revenue streams.

“As an organization on the forefront of AI innovation and development, Iveda’s vumastAR will enable users to make better-informed decisions swiftly, increasing productivity, safety, and efficiency across various industries,” said David Ly, CEO and founder of Iveda. “Whether you're a small business or a large enterprise, vumastAR is your reliable sidekick, minimizing errors, and turbocharging decision-making, creating a work life that’s easier. Our early vumastAR users are already experiencing the power of augmented intelligence, combining human and AI capabilities to achieve new levels of operational efficiency and ultimately enhance bottom line results.”

With no specialized hardware or extensive training required, vumastAR works on all Android devices, making advanced and customizable AI technology accessible to a broad range of users. VumastAR can be deployed in a wearable / portable form, or fixed in place, seamlessly integrating with existing technology and workflows. The technology effectively enhances on-the-job training and upskilling with hands-free operation and intuitive voice command.

In addition to improving everyday workflows, vumastAR addresses cybersecurity concerns as it can work offline and connect to local servers, ensuring functionality in remote locations without requiring internet access.

Powered by Iveda’s core technology, IvedaAI, vumastAR joins Iveda’s lineup of smart solutions, including IvedaEMS, IvedaCare, Iveda Smart Drone, and Utilus Smart Pole, to name a few. Through its latest product launch, Iveda is underscoring its mission to make it easier for customers to search, manage, analyze, and secure operations through AI-backed solutions–providing digital transformation so organizations and cities around the world can focus more on what matters.

About Iveda Solutions®

Iveda (NASDAQ:IVDA) is the provider of global solutions for cloud-based, video AI search and surveillance technologies that protect the people, places, and things that matter the most. Iveda’s technology has the power to provide instant intelligence to existing infrastructure, enabling cities and organizations around the world to seamlessly enter the fifth industrial revolution. Iveda operates at the forefront of digital transformation of cities across the world, using IoT platforms with smart sensors and devices developed to aid with use cases surrounding public safety, security, elderly care, energy efficiency, and environment preservation. Headquartered in Mesa, Arizona, with a subsidiary in Taiwan, Iveda is publicly traded under the ticker symbol “IVDA”.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231102874157/en/

Olivia Civiletto Erwin

olivia@dottedlinecomm.com

617.477.9857

Source: Iveda

FAQ

What is the name of the AI vision software launched by Iveda?

The AI vision software launched by Iveda is called vumastAR.

What industries can benefit from vumastAR?

VumastAR can benefit industries such as pharma, manufacturing, transportation, retail, supply chain, and more.

What is the projected size of the global augmented reality market by 2030?

The global augmented reality market is projected to reach upwards of $1.1 trillion by 2030.

Does vumastAR require specialized hardware or extensive training?

No, vumastAR works on all Android devices without specialized hardware or extensive training.

Can vumastAR work offline?

Yes, vumastAR can work offline and connect to local servers, ensuring functionality in remote locations without internet access.