Tru Recognition has addressed the key challenges facing both customers and Artificial Intelligence (AI) producers in their desire to use and leverage AI. These are as follows:

1. Existing security camera systems are not designed with AI in mind.
2. Customers are limited to single supply providers
3. Complexity makes sensor/camera AI difficult to deploy and scale at an enterprise level
4. Concerns relating to privacy and ethics
5. Difficulty commercialising AI models
6. The ongoing commoditisation of AI models
7. Difficulty getting the appropriate camera feeds and security access

These dynamics combined with the ever-increasing number of AI engines currently available (108+ facial recognition, 70+ Licence Plate recognition, 60+ Vehicle Make/Model recognition and 10+ Safety Equipment recognition) has resulted in the commercialisation and investment returns for both customers and AI companies to be minimal.

By developing technology that is AI agnostic, in conjunction with the ability to run multiple AI engines, Tru Recognition have addressed the concerns of both users and producers of AI models. In combination with globally recognised channel partners and a high margin low-cost SaaS revenue model Tru Recognition have a significant strategic advantage over any other local or global player in the Recognition as a Service (RaaS) marketplace.

The Tru Recognition platform is a highly scalable global RaaS platform. The customer simply has to select the required AI Recognition Engines from the marketplace. Minimal technical work and coding is required and therefore minimal cost is incurred by Tru Recognition.

Gartner Incorporated estimates that by 2025 Recognition Technologies will be a standard element in more than 80% of new video surveillance installations (compared to less than 30% in 2020) It places Tru Recognition in the position to scale rapidly without high costs. In addition, with the best-in-class global strategic channel partners the business is ideally placed to enable companies worldwide to maximise their existing recognition assets. With global 5G networks requiring commercialisation by telecommunication companies Tru Recognition is in the ideal position for global expansion.

Tru Recognition is led by its founder and CEO John McGiffin. John is a leader in Artificial Intelligence in Australia and a member of the AI working group with Standards Australia focusing on data and AI trustworthiness.

John deployed Tru Recognitions leading-edge Recognition Technologies for Billboard companies in the United States and Australia within months of inception. The business model he has created for the RaaS Platform, with the significant business-value add, continues to be validated daily by the growing list of customers who are invested in John’s vision for the future.

In a very short period, John has employed key personnel with track records of outstanding success and achievements. Key appointments include:

• Max Bolkovsky – Head of Strategic Sales and Marketing Max Bolkovsky brings with him 25+ years professional experience to the TRU Recognition team, both in Channel and Vendor organisations. Throughout his career, Max has worked closely with revenue, field and marketing teams. He has been pivotal in accelerating growth whilst developing and implementing strategies to secure business success.
• Kent Ramchand the Chief Technical Officer, has over 20 years’ experience in consulting and enterprise leadership across Telstra and strategic accounts with IBM. Kent’s technical experience will be a key driver in ensuring Tru Recognition maintains its competitive position well ahead of it’s competitors.
• Robert Pertich the Company Secretary has over 25 years financial experience as a CPA and company director. Robert provides the sound financial acumen and experience required for rapidly expanding companies.

Tru Recognition have developed their own unique platform with an integrated pattern of transcoding, decision modelling, replay video and decision support.  In conjunction with strong relationships with critical partners this will ensure minimal direct competition. Tru Recognition is unique in the industry as it is AI agnostic. Unlike all other players, Tru Recognition allows the customer to choose the best engines and algorithms from the marketplace. This has avoided significant development costs and the reduced value of investments in technology as AI engines become commoditised.

Tru Recognition has also been developing a strong global sales channel with Ingram Micro (CloudBlue Marketplace) and 5G network infrastructure manufacturers to ensure unprecedented access to telecom carriers. By being first it has made it significantly harder for other players to establish relationships. It is estimated TruRecognition has a 12-to-18-month advantage over any competitor who desires to replicate the Tru Recognition offering.

Tru Recognition is ideally placed to take advantage of the key growth drivers in the market, mainly:

1. Customers looking for enterprise solutions which scale and reduce complexity.
2. 5G telecommunication companies having invested heavily in their networks now looking to monetise their investment.
3. The global and rapid rise in adoption of AI in recognition technologies.

It is estimated that as a minimum, there is a US $10 billion market opportunity for Tru Recognition. This does not include future and adjacent market opportunities.

There are currently over 1 Billion CCTV cameras globally and growing at 30 % p.a.  This clearly underpins the growth that recognition technology will be undertaking in the future.