[Asia Economy Reporter Hyungsoo Park] The stock price of AI video recognition specialist Alchera is on the rise. News that the government will spare no support to foster AI companies appears to be influencing the stock price.
As of 12:11 PM on the 23rd, Alchera is trading at 13,980 KRW, up 17.48% from the previous day.
On the 22nd, Lee Jong-ho, Minister of Science and ICT, discussed the trends and policy directions of 'ChatGPT' with AI companies and academic experts at the Seoul Central Post Office. Minister Lee said, "ChatGPT will be a signal that AI is permeating everyday life," and added, "We will spare no support to maximize the digital capabilities our companies possess and lead the global super-large AI market."
Earlier, on the 17th, Jo Sang-myung, Director of the Safety Policy Office, and officials from the Ministry of the Interior and Safety visited Alchera's headquarters in Pangyo. Officials from the Ministry and Alchera exchanged opinions on domestic AI-based disaster prevention and public safety projects. They reportedly reached a consensus on the need for policy support to foster scientific disaster management and safety-related industries.
Founded in June 2016, Alchera was listed on KOSDAQ in December 2020. Cameras equipped with Alchera's video recognition AI technology exceed 312 million units. In facial recognition, Alchera recently demonstrated 99.99% accuracy within one second in the U.S. National Institute of Standards and Technology (NIST) Facial Recognition Vendor Test (FRVT). Alchera possesses world-class technology in facial and anomaly detection AI fields.
Hwang Young-gyu, CEO of Alchera, explained the core AI technologies: ▲facial recognition ▲behavior recognition ▲anomaly detection. He shared the trends in practical application of scientific disaster management for each technology. He introduced AI technologies applied to non-contact access control systems, securing public safety through anomaly behavior detection, and disaster prevention such as wildfires and indoor fires.
Previously, on the 31st of last month, Alchera exclusively demonstrated its wildfire early detection AI solution ‘FireScout’ at the wildfire monitoring center in Sonoma County, Northern California, in front of Minister Lee Sang-min of the Ministry of the Interior and Safety and the Korean delegation. FireScout detects anomalies such as smoke with 99% accuracy both day and night and sends real-time alerts. It monitors wildfires across California through over 1,000 cameras.
Sehee Kim, a researcher at Eugene Investment & Securities, explained, "The wildfire detection AI solution 'FireScout' is currently in a pilot project with PG&E, the largest power company in the western U.S. Among the three required technology levels, Alchera is the only company that has passed level 3." She added, "If it transitions to a full-scale project this year, it will initially supply 600 units of the solution," and "The monthly usage fee per CCTV is expected to be around 400 to 500 dollars."
Researcher Kim emphasized, "In the U.S., power companies are responsible for huge compensation payments in case of wildfires, so the demand for wildfire detection solutions is high."
Domestically, there is also a possibility of a full replacement with government-led AI-based 'intelligent CCTV.' Following the Itaewon incident, the Ministry of the Interior and Safety announced guidelines to replace all CCTVs managed by local governments with intelligent CCTVs by 2027. Intelligent CCTVs are equipped with data analysis and communication capabilities using AI technologies.
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