Read the annual address by our Managing Director, Jeff (Chae Won) Lee, for an insight into Hanwha Vision's predictions for this year.
A successful year - with plenty more to come!
Jeff Lee, Managing Director
On behalf of everyone at Hanwha Vision Europe, I wish you and your family a happy, healthy and prosperous 2024!
Last year saw many successes for Hanwha Vision. The company revealed its strategic transformation, encapsulated in a new name, to reflect its leadership in innovative global vision solutions that leverage technology to provide customers with solutions tailored to their needs.
As part of this, 2023 also saw Hanwha Vision maintain its leadership in AI and, in particular, the further deployment of AI ‘at the edge’, where data is processed in the camera at the point where it is generated. As well as better managing risk, AI ‘at the edge’ delivers operational intelligence and efficiency gains.
We also launched SolidEDGE; the first solid-state drive (SSD)-based camera on the market, SolidEDGE allows recording at the edge itself and is an indication of the pioneering innovations you can expect to see this year.
AI is our focus for 2024
AI represents a key area of focus for Hanwha Vision in 2024. As such we will continue to add more features to edge AI cameras to meet the needs of different users, and we are poised to launch ‘smart’ industry-specific edge AI functions in 2024 to address challenges facing the factory, retail and city sectors.
These solutions reflect the considerable interest in AI-enabled video among European business leaders. This is demonstrated in research Hanwha Vision Europe recently conducted in the UK, France, Germany, the Netherlands and Italy. This revealed that almost one-third (31%) of business leaders intend to use AI-enabled video to solve a wide range of business challenges. This is nearly double the number who favour automation and robotics and almost the same as those who see 5G and the Internet of Things (IoT) as key to solving their challenges.
Five trends for 2024
As we move into a new year, Hanwha Vision has identified five trends that will drive success for our partners and users in 2024.
- AI is a business game-changer
The increasing combination of security cameras and AI is key to the transformation of video technology from pure surveillance functions to wider business use where it delivers new and highly valuable insights.
- The edge continues to gain momentum
The adoption of AI technology ‘at the edge’ is set to grow in 2024, and its deployment will offer users faster insights to facilitate real-time decision-making in critical scenarios.
- The transition to the cloud gathers speed
As AI-enabled video becomes more prevalent, we expect to see more investment in cloud-based services to support video strategies built around AI.
- Cybersecurity will continue to dominate the business agenda
Growth in AI and the cloud will only reinforce the need for organisations to protect their systems from cyber attacks by working with providers who put cybersecurity at the core of their products and business.
- Sustainability will become a condition of doing business
Increasing sustainability reporting requirements for European businesses introduced in 2024 will require users of video technology to more closely consider the sustainability of the products available to them.
Read more about these industry trends here.
Looking forward to working together
We are lucky to be in an industry that is undergoing much positive transformation as new technology expands what is possible with video.
For that reason, 2024 is set to be an important year, and all of us at Hanwha Vision Europe very much look forward to working with our valued partners and users in what promises to be another exciting year!
Jeff (Chae Won) Lee
Hanwha Vision Europe