Company also unveils the concept of real-time facial recognition for smart cities at Expo Seguridad
Mexico, June 28. — NtechLab, one of the global leaders in the field of facial recognition, is unveling the concept of smart city real-time facial recognition command and control centers for combating crime and finding missing people.
The announcement on the sideline of Expo Seguridad exhibition is being promoted by NtechLab and its strategic partner INT Intelligence & Telecom Technologies. Both companies are jointly advocating the immense benefits of facial recognition software for security services and commercial clients in Mexico.
Facial recognition technology empowers governments and security services to respond to incidents, with speed and confidence. It employs high-precision, real-time facial recognition mode in a video stream. Images are compared with a database of wanted individuals. If there is a match, the system notifies law enforcement immediately. The entire process, from the appearance of the person in front of a camera to law enforcement receiving a signal, takes milliseconds.
The technology can also provide commercial companies, such as retail stores, exhibition halls and shopping malls, with rich audience analytics. This includes visitor numbers, including segmentation based on gender and age, the average length of visit time and whether attendees are new or regular visitors. Another application of the technology is in access control and attendance management systems based on facial recognition.
Liana Meliksetyan, Chief Commercial Officer, NtechLab said: «Today, more than 50 to 70% of all criminal cases are already investigated in major cities with the help of video surveillance and facial recognition systems. The NtechLab facial recognition system has been used to solve more than 50,000 crimes. We also see major decrease up to 80% in crimes, including thefts, robberies, and murders, in the cities which have been using facial recognition for three years and more. Now, our system has already been sold to Mexico and other 25 countries.»
Jose Lopez Martin, Head of Latin America Regional Office, NtechLab added: «From 2019 to 2021, the accuracy of facial recognition exceeded 99.99%, and the number of errors decreased by 20 times. The accuracy of facial recognition depends on factors such as camera location, image quality, and weather conditions. Under perfect conditions, the number of errors in facial recognition systems today does not exceed one in 50 million operations. Such factors as gender, facial aging, or, for example, the presence of makeup, practically don’t affect the recognition accuracy which illustrates the enormous potential of this system.»
NtechLab was established in 2015. Based on its geographical footprint, it is one of the largest facial recognition systems providers in the world. It currently operates in 26 countries across the Latin America, Middle East, South and Southeast Asia, and Europe, including Azerbaijan, India, Indonesia, Russia, Thailand, Uzbekistan, United Arab Emirates and Vietnam. More than 400,000 cameras are connected to NtechLab’s global facial recognition software.
In 2020, following a $ 15 million investment from an international consortium of sovereign wealth funds, including those from the Middle East, NtechLab has announced the opening of its Gulf office in Abu Dhabi.
In 2021, NtechLab topped the Face Recognition Vendor Test (FRVT) undertaken by the National Institute of Standards and Technology (NIST) of the US Department of Commerce. Based on the results of seven independent tests, the algorithm developed by NtechLab was given worldwide top ranking.
In 2022, NtechLab entered the Financial Times 1000 list of Europe’s fastest growing companies. Compiled in partnership with research agency Statista, the FT 1000 list includes European companies that achieved the highest compound annual growth rate in revenue between 2017 and 2020. NtechLab showed an enviable 122% compound annual growth rate during the assessment period.
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