At time of writing, the share price of BrainChip Holdings Limited [ASX:BRN] is up 8.99%, trading at $0.097 per share.
After taking off in mid-2015, the share price has been volatile for the past three and a half years:
The latest news out of the company is that it has inked a strategic partnership agreement to aid its push into the European market.
SoftCryptum deal to build links with government agencies
In an announcement today, BrainChip flagged that it has signed an agreement with with SoftCryptom to sell BrainChips’s AI-powered video analytics solutions to government agencies in France, Belgium and Switzerland.
SoftCryptom is a company that sells security and data analytical solutions, particularly to government agencies who need a way of analysing CCTV footage.
Co-founder and President of SoftCryptom, Guillaume Tissot, hailed the agreement saying:
‘With a solid network of contacts in Law Enforcement, Defense and Intelligence Agencies, our company is well positioned to help promote, install and support BrainChip’s AI-powered software and hardware solutions.’
Fighting through the fuzz — BrainChip’s AI solution
Low resolution of the CCTV images is often a barrier to successful investigations and BrainChip’s technology addresses this through a spiking neural network (SNN).
According to the company, the SNN enables their BrainChip Studio to work on low resolution video and requires only a 24×24 pixel image to detect and classify faces.
Below is an example of how a low resolution image of Mona Lisa is recognised using BrainChip’s technology:
Source: BrainChip Holdings Limited
In our previous post on BrainChip, we suggested that the marketing side of the business could be an important aspect of its success going forward.
The strategic partnership agreement announced today strengthens the marketing aspect of their business model, giving it a closer connection to customers in the European security environment.
With recent events in Europe, these agencies are likely looking for ways to improve their operational capacities — something BrainChip will be seeking to capitalise on.
For Money Morning