SOURCE: BrainChip Holdings Ltd.

BrainChip Holdings Ltd.

October 17, 2017 02:03 ET

BrainChip to Provide Artificial Intelligence Video Analytics for a Large-Scale Municipal Project

SAN FRANCISCO, CA--(Marketwired - Oct 17, 2017) - BrainChip Holdings Ltd. ("BrainChip" or the "Company") (ASX: BRN), a leading developer of software and hardware accelerated solutions for advanced artificial intelligence (AI) and machine learning applications, today announced that it has been selected to provide its AI-powered object search and facial recognition technology in a new large municipal deployment of video surveillance and video analytics.

BrainChip Studio's object search and facial recognition capabilities will initially be deployed in 11 pilot locations during Q4 2017 and Q1 2018, with broader deployments to follow later in 2018. The project has a potential value of more than US$1.2 million.

The deployment encompasses over four thousand cameras across several towns and cities in France. BrainChip's technology will be used on selected cameras to protect specific high-value areas, including hospitals, schools, and first-responder sites. BrainChip is working closely with a large system integration firm to integrate its BrainChip Studio technology into the overall system.

Bob Beachler, BrainChip's Senior Vice President for Marketing and Business Development, said: "This is an exciting new European project for BrainChip that builds upon our successful deployments and trials in Paris and Toulouse. We are proud to have been selected for this major program, which we expect will become a standard for other municipal deployments."

About BrainChip Holdings Ltd (ASX: BRN)
BrainChip Holdings Ltd. is a leading provider of software and hardware-accelerated solutions for Advanced Artificial Intelligence and Machine Learning applications. The Company has developed a revolutionary new spiking neural network technology that can learn autonomously, evolve and associate information just like the human brain. The technology, which is proprietary, is fast, completely digital and consumes very low power. The Company provides software and hardware solutions that address the high-performance requirements in Civil Surveillance, Gaming, Facial Recognition and Visual Inspection systems. www.brainchipinc.com

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