Ericsson and TRU Recognition launch vision-based recognition pilot

The LIFT Smart Video Platform uses TRU Recognition’s video analytics and is supposed to help businesses to run video-driven AI use-cases across sales, operations, security, and customer experience.

The press release states that it can enhance decision-making processes and improve customer experience, while reducing implementation cost and risk. The platform’s ‘value proposition’ is also described as its ability to reduce time-to-value and enhance AI coverage, flexibility and accuracy in the field of video analytics.

"Together with TRU Recognition, we are setting a new standard for what is possible with Visual AI and 5G in the enterprise sector,” said Emilio Romeo, Head of Ericsson, Australia, and New Zealand. “The LIFT Smart Video Platform exemplifies how advanced connectivity can unlock new capabilities in video analytics, driving value for our customers and their operations. This technology will see enterprises manage diverse and multiple dimensional business challenges, from strategic decision-making and operational efficiency to improving customer experience across key industries."

Max Bolkovsky, CEO of TRU Recognition added: "This collaboration goes beyond technology—it's about a commitment to innovation. We aim to empower enterprises by eliminating barriers to progress and ensuring their investments in Vision AI are future proof. We're thrilled about the potential of this partnership and the profound impact we can make on industries alongside forward-thinking companies that recognise the transformative power of vision-based innovation”.

The global video analytics market is projected to grow to $386 billion by 2031, claims the release, and in the ANZ region alone, the market is expected to double from $700 million in 2024 to $1.3 billion by 2030.