SEYE Part 125 Oct 2019 21:00
New Busines Area AIS
But the company is more than just Automotive Solutions, even though that business area rightly gets most of the limelight right now. On July 1st, a new business area called AIS was formally inaugurated. AIS stands for Applied Aritificial Intelligence Systems. The word Systems in the name signals that the new business area will offer not only software, but also hardware, which means that Smart Eye soon can offer a complete system to the automotive industry. This does not mean that Smart Eye abandons its winning concept of ??selling software through global Tier-1 suppliers who in turn sell complete systems to major car OEM’s. Through this development of our offer as an aftermarket system with a focus on China. We’re going to be able to meet the growing market demand in China where regulatory initiatives in the near future are expected to require driver monitoring for certain types of transport of dangerous goods and long-distance buses. By connecting our software to a specific hardware, we’re ensuring that our software is not copied, which is an important factor in protecting our competitiveness and integrity.
AIS will cover the cases where the volumes are not as large as for Automotive Solutions but still much larger than the research customers of Research Instruments. Typical customers are operators of car and truck fleets, bus companies as well as manufacturers of commercial vehicles and special vehicles with small to medium volumes. The product is being developed and tested to the full requirements and standards of the automotive industry, while great effort is put into gaining full functionality including the latest AI technology at a competitive price. In the second half of next year, the product will be launched to a wider audience, but already during the winter, a number of pilot tests with specially selected customers are planned. These tests will provide important information and data for the further development of algorithms and the tuning of customer functions. Part of the capital of 200 million SEK raised before the summer was aimed towards the AIS investment.
Eye tracking system for research purposes
Research Instruments has had a somewhat less intense quarter than the rest of the company, where the trend of delays on large contracts has unfortunately continued. However, we have not lost contracts to competitors or any business opportunities, it’s a shift in purchases beyond the company's control where sales are expected to be realized in the coming quarters.
The company has started to develop the product range with the aim of broadening the offer. We will move our position forward regarding smaller eye tracking systems with lower price tags and higher volumes. In addition to increasing the total sales volume, it can also help to reduce the fluctuations in the business area in the future by not having as much relativ impact on a few large orders.