Iveda’s VumastAR AI Software Will Recognize Oil Spills for Safety Applications with Major Oil Companies in Australia and the US
Iveda (NASDAQ: IVDA) announces the application of its AI vision software, vumastAR, to recognize and respond to oil spills. The company is developing this technology for proof-of-concept projects with major oil companies in Australia and the United States. VumastAR's AI-driven detection and automatic alerts aim to reduce manual checks, resulting in labor savings and faster detection times.
The global oil spill management market is projected to grow from $153.38 billion in 2023 to $175.79 billion by 2028. Iveda's custom AI model will provide immediate alerts for rapid response, minimizing environmental impacts and operational costs. The technology's versatility extends beyond oil spills, serving multiple industries and aligning with ESG principles.
Iveda (NASDAQ: IVDA) annuncia l'applicazione del suo software di visione AI, vumastAR, per riconoscere e rispondere a sversamenti di petrolio. L'azienda sta sviluppando questa tecnologia per progetti di prova con grandi compagnie petrolifere in Australia e Stati Uniti. La rilevazione e gli avvisi automatici guidati dall'AI di VumastAR mirano a ridurre i controlli manuali, portando a risparmi sui costi del lavoro e tempi di rilevazione più rapidi.
Il mercato globale della gestione degli sversamenti di petrolio è previsto crescere da 153,38 miliardi di dollari nel 2023 a 175,79 miliardi di dollari entro il 2028. Il modello AI personalizzato di Iveda fornirà avvisi immediati per una risposta rapida, minimizzando gli impatti ambientali e i costi operativi. La versatilità della tecnologia si estende oltre gli sversamenti di petrolio, servendo molteplici settori e allineandosi ai principi ESG.
Iveda (NASDAQ: IVDA) anuncia la aplicación de su software de visión AI, vumastAR, para reconocer y responder a derrames de petróleo. La compañía está desarrollando esta tecnología para proyectos de prueba con importantes empresas petroleras en Australia y Estados Unidos. La detección impulsada por AI de VumastAR y las alertas automáticas tienen como objetivo reducir las verificaciones manuales, resultando en ahorros laborales y tiempos de detección más rápidos.
Se prevé que el mercado global de gestión de derrames de petróleo crezca de 153.38 mil millones de dólares en 2023 a 175.79 mil millones de dólares para 2028. El modelo de AI personalizado de Iveda proporcionará alertas inmediatas para una respuesta rápida, minimizando los impactos ambientales y los costos operativos. La versatilidad de la tecnología se extiende más allá de los derrames de petróleo, sirviendo a múltiples industrias y alineándose con los principios ESG.
Iveda (NASDAQ: IVDA)는 AI 비전 소프트웨어 vumastAR를 적용하여 기름 유출을 인식하고 대응한다고 발표했습니다. 이 회사는 호주와 미국의 주요 석유 회사와 함께 개념 증명 프로젝트를 위해 이 기술을 개발하고 있습니다. VumastAR의 AI 기반 탐지 및 자동 알림은 수동 점검을 줄여 인건비 절감과 더 빠른 탐지 시간을 목표로 하고 있습니다.
전 세계 기름 유출 관리 시장은 2023년 1,533억 8천만 달러에서 2028년 1,757억 9천만 달러로 성장할 것으로 예상됩니다. Iveda의 맞춤형 AI 모델은 신속한 대응을 위한 즉각적인 알림을 제공하여 환경 영향을 최소화하고 운영 비용을 줄이도록 설계되었습니다. 이 기술의 다재다능성은 기름 유출을 넘어서 여러 산업에 걸쳐 있으며 ESG 원칙과 일치합니다.
Iveda (NASDAQ: IVDA) annonce l'application de son logiciel de vision AI, vumastAR, pour reconnaître et répondre aux déversements de pétrole. L'entreprise développe cette technologie pour des projets de preuve de concept avec de grandes compagnies pétrolières en Australie et aux États-Unis. La détection pilotée par l'IA et les alertes automatiques de VumastAR visent à réduire les contrôles manuels, entraînant des économies de main-d'œuvre et des temps de détection plus rapides.
Le marché mondial de la gestion des déversements de pétrole devrait passer de 153,38 milliards de dollars en 2023 à 175,79 milliards de dollars d'ici 2028. Le modèle IA sur mesure d'Iveda fournira des alertes immédiates pour une réponse rapide, minimisant les impacts environnementaux et les coûts opérationnels. La polyvalence de la technologie va au-delà des déversements de pétrole, servant plusieurs industries et s'alignant sur les principes ESG.
Iveda (NASDAQ: IVDA) kündigt die Anwendung ihrer KI-Visionssoftware vumastAR an, um Ölleckagen zu erkennen und darauf zu reagieren. Das Unternehmen entwickelt diese Technologie für Machbarkeitsprojekte mit großen Ölgesellschaften in Australien und den Vereinigten Staaten. Die KI-gesteuerte Erkennung und automatischen Benachrichtigungen von VumastAR zielen darauf ab, manuelle Überprüfungen zu reduzieren, was zu Einsparungen bei den Arbeitskosten und schnelleren Erkennungszeiten führt.
Der globale Markt für das Management von Ölleckagen wird voraussichtlich von 153,38 Milliarden Dollar im Jahr 2023 auf 175,79 Milliarden Dollar bis 2028 wachsen. Das maßgeschneiderte KI-Modell von Iveda wird sofortige Benachrichtigungen für eine schnelle Reaktion bereitstellen, um Umweltauswirkungen und Betriebskosten zu minimieren. Die Vielseitigkeit der Technologie reicht über Ölleckagen hinaus und dient mehreren Branchen und entspricht den ESG-Prinzipien.
- Developing AI technology for oil spill detection with major oil companies in Australia and US
- Potential for substantial labor cost savings and faster oil spill detection
- Addressing a growing market: oil spill management projected to reach $175.79 billion by 2028
- VumastAR's versatility allows application in multiple industries beyond oil and gas
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Insights
Iveda's vumastAR AI software represents a significant leap in oil spill detection technology. By leveraging existing infrastructure like IP cameras and smart devices, it offers a cost-effective solution for a critical industry challenge. The AI's ability to provide instant alerts could dramatically reduce response times, potentially mitigating environmental damage and financial losses. However, the effectiveness of this AI in real-world conditions, especially in varying weather and lighting, remains to be seen. The upcoming proof-of-concept projects will be important in demonstrating its reliability and accuracy. If successful, this technology could revolutionize safety protocols in the oil and gas industry, potentially setting new standards for environmental protection and operational efficiency.
The application of Iveda's AI technology to oil spill detection aligns with growing environmental concerns and stricter regulations in the oil and gas sector. With the global oil spill management market projected to reach
Iveda's venture into the oil spill detection market presents a promising opportunity for revenue growth. The projected expansion of the global oil spill management market to
Currently, staff across the oil industry are required to drive around in shifts to manually check for oil spills, a process that is both time-consuming and costly. vumastAR’s AI-driven detection and automatic alerts reduce the need for these manual checks, resulting in substantial savings on labor and faster detection times, ultimately protecting both the environment and company resources.
The global oil spill management market is projected to grow from
"We've seen a significant increase in interest from the oil and gas industry for AI solutions that can enhance safety and environmental protections," said David Ly, CEO and Founder of Iveda. "Our focus remains on delivering cutting-edge technology that aligns with ESG (Environmental, Social, and Governance) principles, ensuring that our solutions not only meet industry needs but also contribute to broader sustainability goals."
Richard Tsay, Iveda’s Director of Product, added, "vumastAR's versatility extends beyond just oil spills; it is designed to serve a multitude of industries, from ensuring environmental safety to enhancing retail operations. This adaptability makes vumastAR a powerful tool for any sector looking to leverage AI for real-time monitoring and decision-making."
vumastAR’s algorithms are designed for continuous learning, enabling the platform to tackle new challenges and deliver tailored solutions for a wide range of industries. With the ability to detect oil spills, Iveda continues to advance its mission of providing innovative AI technology that addresses the specific needs of its global clients.
To see how vumastAR can be trained to improve your organization’s safety and efficiency, reach out to us at sales@iveda.com.
About Iveda Solutions®
Iveda (NASDAQ: IVDA) provides global solutions for cloud-based video AI search and surveillance technologies that protect the people, places, and things that matter most. Iveda’s technology delivers instant intelligence to existing infrastructure, enabling cities and organizations worldwide to seamlessly enter the fifth industrial revolution. Iveda operates at the forefront of the digital transformation of cities across the globe, using IoT platforms with smart sensors and devices to support public safety, security, elderly care, energy efficiency, and environmental preservation. Headquartered in
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Media Contact
Olivia Civiletto Erwin
iveda@dottedlinecomm.com
Source: Iveda Solutions
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