Periodic Reporting for period 1 - UrbanDynamics (Changing the world of urban mobility thanks to Computer Vision and Artificial Intelligence)
Reporting period: 2019-03-01 to 2019-06-30
Traditional ways of monitoring urban traffic data and managing the information are no longer valid, as the landscape is altered by cutting-edge technologies (computer vision and artificial intelligence), new societal values (environmental awareness) and changing urban mobility modes (self-driven vehicles, bicycles, etc.). Intelligent Transport Systems are key enablers to meet ever-growing citizens' needs in terms of mobility services and offer tailor-made measures to the new variety of urban mobility scenarios. Among them, the development of advanced Traffic Management Systems, such as UrbanDynamics, can significantly contribute to: (i) optimise the use of the existing infrastructures, (ii) foster a more extensive use of collective and sustainable transport modes, and (iii) integrate private vehicles in multimodal combinations. The compliance of these objectives is perfectly aligned to current Smart City challenges to achieve safer, cleaner and more competitive urban mobility.
Technical upgrades have been defined and scheduled, including testing and validation stages and an industrialization route. Commercial strategy has been confirmed based on the urgent needs of managing well-mixed urban transport modes (motorized vehicles and bicycles), upward trend of the involved markets, and absence of both direct competitors and conflicts with IPR. We performed a risk assessment to make sure that the most relevant risks are identified and set a contingency plan. We also valued participation in related-events and free demo services as strategies to attract new clients and partners. Revenue streams, pricing and cost revision were established, resulting in a business opportunity for ViNotion of 5-year estimated profitability of 24.1 M€ (ROI = 4.4) and 66 new employees.
UrbanDynamics is the first Traffic Management Systems in the market offering real-time Video Content Analysis enhanced with machine- and deep-learning algorithms and using edge-computing (high privacy protection). By its unique in-house developed video processing unit, UrbanDynamics provide the most complete insight analysis of all traffic participants; including cyclists and pedestrians. The result is a versatile and highly accurate solution that can answer European city challenges of reducing congestions, increasing traffic safety and promoting sustainable transport modes.