Todd Peters, ArcSoft’s President, North America, addresses the topic of Facial Recognition and how it will impact the digital future. For highlights from his recent presentations at GigaOm Mobilize in San Francisco, FutureM in Boston, stay in touch with us on Twitter at @ArcSoft
Facing the Dramatically Digital Future
Imaging technology is embedded in our smart phones, in self-driving cars, and, unfortunately, at some traffic lights. We’re even wearing it. And by 2020, as the digitization of business continues to increase, nearly everything we use will be embedded with cameras and sensors. During this time, in every industry, from transportation to medicine, The Internet of Things and its technology ecosystem will have created an $8.9 trillion market. Of that ecosystem, the combined IT and telecom market will hit almost $4 trillion, or 5 percent of the global GDP according to this year’s Gartner Symposium in Orlando, FL.
In essence, ‘we are looking at a new economy,’ says Peter Sondegaard, senior VP at Gartner and global head of Research at Gartner, clarifying, ‘This is the beginning of a new era: the Digital Industrial Economy [that will] result in revenue associated with the Internet of Things exceeding $309 billion per year.’
The Internet of Things is going to be needy in terms of processing all that information, too. And it will depend specifically heavily on our ability to capture and process images. Given that over 100 hours of YouTube videos and 500 million photos are uploaded and shared every single day, we’re looking at a massive amount of unstructured data. So how can we turn those pixels into actionable, visual data?