Road Network Management with AI
03 Jun 2021
Dear Reader,
The lack of road safety in India is increasingly becoming a matter of major concern. According to National Crime Records Bureau (NCRB) data, India recorded around 4.3 lakh road accidents in 2019, which took the lives of 1.5 lakh people. Poor road infrastructure, encroachment, and increasing number of vehicles have contributed to the high number of road hazards in the country. The solution seems clear: real-time road monitoring and information collation about road infrastructure.
New Delhi-based deep tech startup Nayan India Science and Technologies has developed a road safety and traffic monitoring solution that uses a camera, computer vision and artificial intelligence. The application constantly monitors roads, infrastructure, and traffic violation. The AI Powered algorithms analyse the video feeds and alert in case of violations, defects or dangers on the road. The B2B SaaS startup works with road transport authorities, insurance companies, private aggregators, public transportation fleets etc. to provide real world, last-mile analytics to better revenue channels.
RoadMetrics is an AI-based solution that uses image and sensor data obtained from a simple smartphone to classify road defects, signs, traffic signals, street lights, etc. This road and street-level data helps enterprise mapping firms and smart city bodies with analytics on road networks and a better mapping experience. The data is sold through the API model as well as on a per km basis, depending on the geography for Smart Cities.
Swedish start-up, Mapillary, acquired by Facebook, is the street-level imagery platform that scales and automates mapping using collaboration, cameras and computer vision. Mapillary’s tools enable anyone to collect, share, and use street-level images which are combined for improving the city maps.
US based RoadBotics automated inspections and generated actionable data about road networks, including identification of individual distresses like potholes and alligator cracks. Their detailed maps, unbiased ratings, and practical tools save time and taxpayer dollars for hundreds of communities across the country and around the world.
As per IBEF ORG, India has the second-largest road network in the world, spanning a total of 5.89 million kilometres (kms). This road network transports 64.5% of all goods in the country and 90% of India’s total passenger traffic uses road network to commute. Road transportation has gradually increased over the years with improvement in connectivity between cities, towns and villages in the country. In India, sale of automobiles and movement of freight by roads is growing at a rapid rate. The startups are focused in solving road network issues by using India’s main asset - its huge population.
Credits : Akhil Handa Manisha Gawle
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RegTech
Dear Reader,
RegTech is the management of regulatory processes within the financial industry through technology. Regtech automates regulatory processes and ensures compliance with regulations. It uses technology to support the ongoing monitoring of regulations and facilitates necessary reporting. Regtech also creates transparency and consistency, as well as substantially increases the quality of risk management and compliance. Another advantage is greater security arising from the continuous monitoring of processes.
Banks and financial companies have to act in accordance with many regulatory requirements. The UK-based startup REGnosys offers a regulatory technology compliance platform, called Rosetta. It aims at facilitating the implementation of the Common Domain Model (CDM) for financial sector players with programmatically enforced compliance mechanisms. The solution saves costs and risks based on a specific rule-based operational lifecycle design.
Canadian startup Mind Bridge creates a financial data analytics platform for auditing, based on AI and machine learning. It leverages accounting data and incorporates domain expertise to detect mistakes and anomalies, spot potential risks and investigate specific cases with built-in natural language processing (NLP) search to help banks and financial institutions resolve issues encountered during regulatory compliance.
Singapore-based startup Dathena utilizes AI to arrange a suite of regulatory data safeguarding tools for the financial, healthcare, travel and retail industries. This suite allows enterprises to organize their data repositories, manage secure access to files, classify data by importance and confidentiality, automate data protection policies implementation and ensure data security.
Banks and financial organizations are obliged to cope with government norms and to regularly create and submit corresponding regulatory reports. Israeli startup Cappitech provides a regulatory reporting platform, Capptivate, for FinTechs. The solution automates data transfer, as well as report creation and submission. Besides, it validates given information and reformats it in accordance with regulatory requirements, monitors the reporting status and provides feedback on past reports.
Chile-based startup Ceptinel has developed a real-time regulatory monitoring system for financial companies. As government laws, regulations and procedures tend to change over time, established companies and FinTechs alike need to stay aware of any pending requirements, modifications in norms, or new state guidelines related to their business. It applies machine learning and complex event processing algorithms to treat large amounts of data coming from various sources to ensure compliance with new regulatory requirements.
Regtech increases effectiveness, efficiency, security and transparency for all market participants, enabling them to focus on their core competence, safe in the knowledge that they are operating in accordance with the legal and regulatory requirements.
Credits : Akhil Handa,Manisha Gawle
Smart Farming
Dear Reader,
Smart farming can be referred to as the 4.0 green revolution in the field of agriculture combining agriculture methodologies with technology — Sensors & Actuators, Information and Communication Technology (ICT), Internet of Things (IoT), Robotics and Drones to achieve desired efficiencies of production which are sustainable.
According to a survey, 80% of farmers in US and 24% farmers in UK have already started using Smart Farming Tool (SFT). These numbers are cognizant of the fact that SFTs are adding value to the farming ecosystem. As far as the scale of operations is considered, Smart farming tools and techniques can be applied to large scale and on the other hand distributed conventional farming can be applied to focused small farming set of organic farms.
Through remote sensing, smart farming system reduces waste, improves productivity and enables optimum resource management. For the benefit of micro farming, multiple crops are grown simultaneously on remote lands which require different care, manure, soil and water. By linking local sensors to smart irrigation and control, things like sensing pH balance of the soil, gauging local temperature is now possible through remote monitoring and sensing rather than walking the field all the time. This leads to increase in the yield as farmers can save on time and focus on the real issues of farming — pest control, irrigation and amending soil conditions all using sensing and automation.
Companies like Robotics Plus, a startup with USD 10 million funding from Yamaha is planning to deploy its fruit plucking robots into production, while Ecorobotix with their Weed Zapping Robots have gained considerable momentum owing to the growth in Smart farming techniques.
Precision farming system has a lot of dependency on the software management systems. Control systems manage sensory input, delivering remote data for supply and decision support, as well as automation of machines . Basically, it is a standardized business approach balancing the demand and supply side with respect to resource management.
During production, it is mostly resource management from a growth and yield perspective. For instance, precision seeding uses automated tractors to reduce seed loss and seeding with proper space management between different plants. Another example is of precision water delivery.
On the demand side, it is about demand forecasting and delivering goods just in time to reduce waste.
India has always been an agrarian state, and traditional farming methods are manual and too labour intensive. Smart Farming can also provide great benefits in terms of environmental issues, for example, through more efficient use of water and optimisation of treatments and inputs
Credits : Akhil Handa Clint James
