SparkCognition, a global leader in AI software solutions for business, has signed a definitive agreement to acquire Integration Wizards, a leader in visual AI. The acquisition will allow SparkCognition to expand its IP portfolio to include computer vision capabilities and build on its portfolio of machine learning, deep learning, natural language processing, and knowledge representation to address the USD 14.4 billion visual AI marketplace.
“With advanced visual AI that can recognise complex scenes and activities we further amplify the value we deliver to our customers while leveraging existing infrastructure investments,” said Amir Husain, founder and CEO of SparkCognition. “Integration Wizards has delivered visual AI at scale for innovators and Fortune 500 customers alike, saving lives, safeguarding assets, and driving demonstrable productivity gains.”
Since its inception in 2014, Integration Wizards’ visual AI technology has provided solutions to global organisations including Hindustan Petroleum, Reliance Industries Limited, Heineken, Xerox, Novo Nordisk, and Johnson Controls. Their customers span 16 countries and service over 20,000 users. Key applications include 24/7 monitoring, enhancing safety and security initiatives, improved process automation in factories and facilities, support for autonomous vehicle operations, and environmental and situational awareness.
"As part of the digital transformation journey, HPCL is deploying AI-based visual analytics across its retail network to improve customer satisfaction and safety. The solution being implemented covers more than 1,00,000 CCTV cameras, by far the largest implementation of vision analytics in the country”, said Ch Srinivas, CGM – Digital Initiatives, HPCL. “AI has been instrumental at advancing the use of data within our organisation and I am excited by the breadth of AI solutions to help us provide cutting edge solutions for improving customer convenience and service, predict future events, and optimise processes."
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