- Collaboration with Thai government agencies and companies to develop AI-based video surveillance technology as part of of Thailand Smart city project
- Global expansion in full swing – Agreement signed with New Zealand company to supply automated traffic data collection technology
Seoul, South Korea, December 13, 2022 /PRNewswire/ — BlueSignal, a 2020 Born2Global Center Participant, provider of artificial intelligence (AI)-based future prediction services, will bring its traffic prediction solutions to use on and around congested roads. Bangkok, Thailand. The company is working with Thai government agencies and local companies to supply its AI-based “Navi Box” video surveillance technology and develop affiliates for the country’s ambitious Smart City project.
Will visit BlueSignal Thailand in early December with KAIST GCC (KAIST Global Technology Commercialization Center), which acted as a link between the company and Thai government agencies and private companies related to the Smart City project, to discuss comprehensive plans and strategies related to the development of the solution, and also to establish a strategic cooperation model between the parties to ensure continuity of business cooperation. Because the Smart City project is massive forty three trillion won year-scale national project ThailandBlueSignal expects the cooperation to serve as a model for successful entry into the global market.
This year, BlueSignal also signed an agreement with Spotlight traffic, a New Zealand company to supply video analysis-based automated traffic information collection technology for several projects Spotlight traffic. The video analytics solution is a technology that combines multi-level car calculations and object tracking using multiple angles from a single camera to collect real-time traffic volume and basic data for multi-directional traffic management. BlueSignal hopes to generate one billion won in annual revenues from the project.
In addition, BlueSignal partnered with Hamburg City Hall inside Germany and KAIST GCC last year to provide a solution that generates forecast information to be fed to the signal management system by analyzing local traffic big data.
The company has been involved in several projects in Korea as well. In October of this year, the company was awarded a 3.6 billion won large-scale project from the National Disaster Management Research Institute to develop an optimal traffic simulation system for safe evacuation in the event of a disaster. Also, next year, the company will work with Daejeon City and the National Fire Agency to develop a solution that predicts the optimal route for transportation during the golden hour.
“After our successful venture Germany last year we signed cooperation agreements with Thailand and New Zealand this year. We are also currently involved in discussions with various government agencies and companies from countries such as Australia, SingaporeUAE (Dubai), and Polandregarding our solutions and products, so we expect more results soon,” said Jason ByckCEO of BlueSignal.
BlueSignal’s traffic prediction technology, which has received much attention both at home and abroad, is mainly based on two types of traffic data analysis. The first is to calculate traffic congestion by predicting traffic speed or traffic volume using data analysis related to speed. The second is the prediction of various risk situations using video analysis technology, where smart modules predict dangerous situations that may occur in alleys and narrow roads.
Meanwhile, BlueSignal has been actively developing solutions that solve various social problems through data/video analysis and prediction since its founding seven years ago. Its technological excellence has been proven on many occasions, including winning the smart city category in the Alibaba Entrepreneur Fund’s global startup competition “Jump Starter” in 2019, as well as becoming the first Korean company to be selected among the top 7 companies in the world. Infinity Lab took place Singapore in 2017, and it serves as a strong support for the stable growth of the company.
About the Born2Global Center
The Born2Global Hub, operated by Born2Global, is a full-cycle service platform that supports the global expansion of promising companies. Founded in 2013 under the Ministry of Science and ICT, Born2Global has set the standard for a successful startup ecosystem in Korea and continues to expand and transform startups to be engaged, well-equipped and connected to the global market.
For more information, please visit https://www.born2global.com
Photo – https://mma.prnewswire.com/media/1966284/BlueSignal_s_solution_shows_multi_speed_calculation_cars_object_tracking_multiple_angle.jpg
SOURCE Born2Global Center