You’re always on the lookout for the next big thing as an entrepreneur. There are numerous areas to investigate in the software development industry. Computer Vision is a technology that is currently capturing the attention of many software companies. But, first and foremost, what is Computer Vision? How can businesses use it to boost revenue? Let’s take a look.
How did Computer Vision start?
The field of Computer Vision began in research laboratories in the United States in the mid-1950s, but the Optical Character Recognition system was the first commercial application of Computer Vision in the 1980s. These systems would be able to recognise alphanumeric characters and symbols printed on paper.
During this time, the optical mouse, the same mouse with a laser tracker that you use today, was also introduced. This was the first commercially successful application of the smart camera, an imaging device and a mini-computer that not only captured and transmitted video, but also communicated other useful data computed using the smart camera’s algorithms. These products established the commercial viability of computer vision companies and products and ushered in a new era of businesses and applications that utilise this technology.
How is Computer Vision Thriving Right Now?
In the last 20 years, technological advancements have made Computer Vision applications more accessible, scalable, faster, and less expensive. Here are a few of these breakthroughs:
Inexpensive and More Dominant Cameras, Storage and Computing Devices
Thanks to advancements in chip manufacturing and computer architecture, computing devices and camera sensors have become smaller, cheaper, and more powerful than ever before. People used to have separate devices for taking pictures, recording videos, surfing the Internet, making calls, and sending messages in the not-too-distant past. All of these tasks can now be completed using a smartphone. Most smartphones have two or more cameras, as well as sensors that are sometimes more powerful than those found in traditional digital cameras. They also have memory storage capacities of up to 1 TB (enough to store 500 full-length films or 100,000 songs) for all of your photos and videos. And the best part is that two-thirds of the world’s population owns one.
Cloud Computing and Faster Data Communication Skills
Cloud Computing Technology has progressed thanks to a combination of faster communication technologies, cheaper and more powerful storage and computing devices, and more robust operating software to coordinate with multiple computers. Cloud computing is a paradigm in which, rather than maintaining your own computing and storage servers, you can entrust your computing and storage needs to a third-party provider, who will bill you based on how much you’ve used or plan to use. This made computing and storage more affordable and accessible.
Profusion and Availability of Data
People, institutions, and businesses are finding it more and more convenient to do a variety of activities in the digital space as a result of all of the previously mentioned improvements. Sharing pictures and videos on social networking sites like Facebook, Twitter, Instagram, and Snapchat, streaming music, movies, and TV series on YouTube and Netflix, buying and selling items on Amazon and Alibaba, and advertising on Google Ads are all examples of real-world activities that are now done through the Internet.