Motorola Solutions, Inc. MSI recently announced that it has embraced AI-powered facial recognition technology with the launch of the newest version of its video management software. Avigilon Corporation, one of the operating units of Motorola, unveiled the Avigilon Control Center (ACC) 7.4 software for an easy-to-use AI-enabled user interface for enhanced safety measures in commercial enterprises.
Facial recognition is reportedly considered to be the most natural of all biometric measurements and refers to the process of identifying or verifying the identity of a person using facial details. It typically involves a three-pronged process, the first step being detection and locating a particular human face in images and videos. The face capture process then transforms an analog information (a face) into a set of digital material (data) based on the person's facial features, while the face match process authenticates if the two faces belong to the same person.
This easy-to-deploy technology requires no physical interaction by the end user and is very fast. Leveraging AI and ML techniques, the global biometric market is expected to top $50 billion by 2024 according to Global Markets Insights, with applications in security and government sectors being the primary growth drivers.
Motorola aims to capitalize on the increasing popularity of this technology to better secure commercial organizations with ‘appearance alert’ capability. The ACC software and connected Avigilon cameras seek to identify potential threats based on facial recognition technology to set alerts for security personnel for appropriate actions. This enables a more pro-active approach for perceived threat detection for better decision-making process. The company deems this ‘human in the loop’ approach as the cornerstone of its AI-enabled capabilities for effective compliance control mechanism.
Moving forward, Motorola expects to gain from robust organic growth, disciplined capital deployment and a favorable global macroeconomic environment. The company expects to record strong demand across land mobile radio products, services and software while benefiting from a solid foundation. Furthermore, its competitive position and attractive portfolio for large addressable markets and healthy balance sheet augur well for future growth.
The stock has gained 40.4% year to date compared with the industry rise of 20.6%.
Motorola currently has a Zacks Rank #3 (Hold). Better-ranked stocks in the industry include Qualcomm Incorporated QCOM and Ubiquiti Inc. UI, sporting a Zacks Rank #1 (Strong Buy) and PCTEL Inc. PCTI carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks Rank #1 stocks here
Qualcomm has long-term earnings growth expectation of 14%. It delivered an average positive earnings surprise of 8.7% in the trailing four quarters, beating estimates on each occasion.
Ubiquiti has long-term earnings growth expectation of 9.4%. It delivered an average positive earnings surprise of 16.1% in the trailing four quarters, beating estimates thrice.
PCTEL delivered an average positive earnings surprise of 150.6% in the trailing four quarters, beating estimates on each occasion.
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