VSBLTY & ABILITY ENTERPRISE SIGN MOU TO MARKET AI-ENABLED INTELLIGENT CAMERAS & SOFTWARE TO LARGE CUSTOMERS WORLDWIDE
Source: Ability PR
Date: 2021/07/22
Vsblty Groupe Technologies Corp. [(CSE:VSBY) (Frankfurt 5VS) (OTC: VSBGF) (“VSBLTY”)], a leading software provider of security and retail analytics technology, and Taiwan-based Ability Enterprise Co., Ltd. (TWSE:2374) has announced the signing of a Non-Binding Memorandum of Understanding (MOU) that will enable the two companies to work more closely together to target large customers worldwide. Ability has been providing best-in-class ODM/OEM solutions for input digital imaging devices since its founding in 1965.
Vsblty and Ability are already cooperating in joint projects. Recently they co-developed a first-of-itskind high resolution camera with self-contained inference logic, which can be used in retail and “Smart City” applications. The camera is the first to be developed and deployed that is able to integrate multiple Intel algorithms to run simultaneously directly on the edge. Those Ability intelligent cameras, powered by Vsblty technology, currently are being deployed to improve public safety in Benito Juarez, a borough of Mexico City.
The MOU establishes a list of proposed business terms between the two companies and continues until April 2024. The objective of the MOU is for the two companies to collaborate to identify, pursue and supply video cameras with Edge compute capability and video-as-a-service offerings based on artificial intelligence to customers seeking to improve security and/or requiring advanced retail AIenabled analytics. By increasing their strong system integrator relationship, Ability and Vsblty expect to drive demand for computer vision projects, particularly within Smart Retail, Smart Cities and security projects.
“Because Vsblty and Ability already have a successful—and mutually profitable—history of working together, we will be targeting large scale customer opportunities such as government agencies, multi-national corporations as well as large facilities and enterprises that have need for Intel-based video cameras, application software and support services,” Vsblty Co-founder and CEO Jay Hutton said. “Our teams are compatible, our cultures are similar and the opportunities are limitless,” Hutton added.
Jonny Wu, Senior Director, Ability Enterprise Co., Ltd., said, “All of us at Ability are excited to work more closely with the talented group at Vsblty. While each company is independently successful, we have already proved that together we can achieve higher profitable plateaus. There is a growing global market for IoT deployments and our state-of-the-art cameras. We are enthusiastic about what the future holds for us.”