45 billion cameras in the world by 2022 is the massive market for Umbala Network’s ecosystem of DApps
Vnexpress, which has the highest ranking among other e-newspapers in Vietnam on Alexa.com, number 11, only after Yahoo!, Google, and Google Vietnam, is the most read and most prestigious newspaper in Vietnam.
On Jan 9, Mr. Don Thao Nguyen — co-founder and CEO of Umbala Network, delivered an inspiring talk on “Eye Vision Computing Economy 4.0” at the tech conference “Smart Tech for Smart Living” held by Vnexpress.
Below is an article recapping what Mr. Don said at the conference. You can read the original content on Vnexpress here
The development of AI, VR, and AR turns images from the camera into one of the most important types of data in the near future.
On Jan 9, Mr. Don Thao Nguyen — co-founder and CEO of Umbala Network, delivered an inspiring talk on “Eye Vision Computing Economy 4.0” at the tech conference “Smart Tech for Smart Living” held by VNExpress.
Having been developing live camera platforms for 8 years, Mr. Don Thao Nguyen described the whole landscape of the eye vision computing and made some predictions about its future. “Until 2022, there will be 45 billion cameras in the world, which means each citizen would be captured by 4 to 5 cameras”, he said.
The camera technology accompanies economic development. To be specific, the first era was when people started to have smartphones. They got used to capturing and storing. The next era was the age of selfie photos, which created the demand for uploading photos, thus, social network sites such as Facebook and Instagram were born and became social media giants.
The most recent is the era of live streaming. In China, there are several startups worth billions of USD only working on Livestream apps or live shopping videos.
With the economy 4.0 accompanying Blockchain, along with the development of AI, AR, and VR, humans are looking forward to the age in which data from camera becomes one of the most important types of data, has worldwide impacts and creates new business models. This comes from the advantages of cameras: the ability to capture images and the interactivity. Users can see and communicate with each other through cameras in real-time.
For example, interactions via live stream can be applied in e-commerce or television to boost the engagement with audiences. “A 3D models company can create Hollywood like-real characters at different places. When users use cameras to scan the code, the artist will appear in that 3D version to talk to them”, Thao described.
Another application of eye vision computing technology is online shopping. In the US, the retailing market is big but online retailers just make up 10%, the rest is offline sellers as consumers prefer real experiences when it comes to decision making. With the camera technology, when scanning a product with a smartphone, users can get all information related, from instruction to images of celebrities using that product.
“We run across a person with a pretty bracelet on the street and want to get one for ourselves. With the eye vision technology, we can take a photo of the bracelet to know where we can get it at which price”, Thao emphasized.
Moreover, eye vision reinforces the consumer’s real experiences with products, which helps sellers close deal quicker and easier. Real estate firms can build a camera system surrounding the construction, which allows users to track the progress and enables sellers to provide buyers with insights of the project such as its value and potential.
Talking about the ability to apply this new technology in Vietnam, Mr Don Thao Nguyen said that South East Asia is one of the world’s most fast-growing areas, most people have smartphones and Vietnam even has a young population.
“Vietnam is one of developing centers of the region and the world. Many foreign companies from Japan and Korea came to Vietnam to look for partnership. Vietnamese enterprises need to make use of opportunities to apply eye vision technology to create their own competitive advantages in the market”, CEO of Umbala Network said.
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