Iveda integrating AI to keep communities safe, CEO explains

Surveillance tech firm Iveda Solutions (IVDA) is integrating and scaling new AI models to enhance its personal security and cybersecurity for communities and organizations. Iveda Founder and CEO David Ly joins Yahoo Finance Live to discuss how Iveda is leveraging this technology and how the stock is following certain AI investment trends.

"Cybersecurity is highly dependent on the local infrastructure — if you're a school, you have your IT department; if you're a government agency, you have your IT department," Ly states. "What's great about our technology, we reside on-premise with you, so we are behind everything that you're already protecting."

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Video Transcript

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SEANA SMITH: We're back with you live from the Nasdaq market site in new York city. Now, Iveda is a surveillance tech company focused on protecting communities with the help of artificial intelligence. When you take a look at what they are doing, their AI technology works with surveillance systems to help locate, track, and isolate threats in homes, in schools, and in hospitals.

Now, the company also recently announcing plans to scale the development of smart cities across Egypt as well as Europe, the Middle East, and Africa regions. Joining us now with more is the founder and CEO of Iveda. We have David Ly. David, it's good to see you here. So before we dive into, I guess, exactly where the technology can be used, tell us a little bit more about, one, how the technology works, and what exactly you're able to detect with it.

DAVID LY: Thank you, Seana. Technology, just to describe it down to earth and grass roots, it's very simple. It leverages existing infrastructure, meaning if you have an existing camera, if you have an existing security sensor or alerting mechanism, the AI on the back end comes in and helps make sense of what these alerts used to mean.

Before, when a camera had motion, that's all it was. And sensors in the past-- I always relate it to old school radioshack sensors. You got an alert. Big wow-- you don't know what's going on. What the AI is doing is it's detecting now, ahead of time, everything that might be of interest to you all in real-time. And it makes sense of it and it lets you know and focus on what really matters, not just, hey, I've got an alert.

BRAD SMITH: How are you kind of marketing, selling the features that Iveda has? Is it surveillance, or is it cybersecurity? And where are you seeing some of the users-- the end users really kind of latch on to the services that you do offer?

DAVID LY: Great question. The marketing of the technology really is reliant on existing end users that have a greater need for systems they've already invested in. So leveraging partners throughout the world, we partner with service providers. These are your local telecoms, wireless companies, security providers, et cetera.

And these are the guys that touch you and I in our homes, you know? We-- they come in, install our security systems. They install our TVs, our cameras. Now they're leveraging Iveda AI's0 technology to enhance existing systems and infrastructure. So that's how we're-- we're growing globally. And-- and it's easy for us to actually install and deploy because it's just that simple. It just sits right next to what you have now and enhances the application and services.

SEANA SMITH: David, how do you best protect the data that you have access to as a result here of your technology and, I guess, limit some of the risk associated with that? Because people we know, obviously and rightfully so, are very worried about some of their privacy concerns.

DAVID LY: Seana, great question. I get that all the time. The good-- good news is this-- Iveda AI and other AI technology-- I'm going to try to speak in favor of all here-- is that cyber security is highly dependent on the local infrastructure. Meaning, if you're a school, you have your IT department. If you're a government agency, you have your IT department. What's great about our technology? We reside on premise with you. So we are behind everything that you're already protecting. So the data that we manage on your behalf is sitting in your house.

BRAD SMITH: David, when we think of the success rate for what you've already been able to detect and through the services that you offer, I mean, some of the different areas where you where you serve into and applications of your technology are into things like campus security or into things like school safety and security as well. What is the success rate that you've been able to see within those realms?

DAVID LY: Well, based on just our experience alone, you know, we are seeing everything from out of country and in country, everything from municipal deployments to more local, let's say, your 7-Elevens and school campuses. The good news is we are seeing great success. I don't want to answer it by percentages, but it's a high percentage, and it's in the high 90s.

Why is that? It's the human experience. When we come in and help a customer, it is that customer that says, wow, we could have never done this because of lack of staff, lack of labor, lack of people, and the human can only do so much. And that's the greatest thing about AI is that it enhances and acts as a force multiplier to what you and I are already able to do. And frankly, that's the benefit and that's the so-called efficiency.

SEANA SMITH: David, is this something that can be used in airports as well? I think that that would be a great use case for a technology like this.

DAVID LY: Oh yeah. Yeah, Seana, of course. Airports have the most advanced infrastructure in place, you know? I'm talking about cameras, access control, elevators, everything involved in power and energy. This is immediately applicable to airports. And as a matter of fact, in Taoyuan International Airport in Taipei, Taiwan, Iveda is already there.

And we didn't just come in and bring heavy artillery. We came in and used and leveraged existing infrastructure-- their cameras, their power meters, their sensors they already have. And it's the AI application behind the scenes that starts communicating, making sense of it all, and then alerting on the anomalies that take place where humans in the past had to watch with our eyes, had to hear and make out what the alerts mean. So yeah, definitely. Wonderful application.

BRAD SMITH: David, we're taking a look at the stock as well here. And I mean, it's been-- it's been a rough go over the past kind of year if you can look at the delisting notice that the company received. Where have you kind of shifted gears? Where have you acknowledged that something needs to change more drastically and more quickly to make sure that investors are seeing the true appreciation of everything that should be factored into the share price?

DAVID LY: You know, what I-- this is a the tough part of being a public company. And yes, we-- we believe and we understand that for shareholders are looking for the strength in the stock price. But what's happening now is the company is staying fully focused on executing on the-- within the operation, our global customers. We have to deliver. And we are so busy and excitingly delivering right now in all regions of the world and where our partners around the world are excited for us and with us. And that's the type of energy, passion, and, you know, pace that our shareholders don't always get to see.

So thank you for asking that question. We're maintaining our trajectory. And yes, I understand, as a public company, it's going to happen. Revenue is going to be showing. When it shows is based on when the government and municipalities and our enterprise customers act-- you know, take action with us.

So it's-- it's inevitable that it's going to be a great success. So I'm-- I'm excited. I'm busy working every morning. My team is happy. Yeah, man, it's-- it's good times. And yes, as a public company, it's that double-edged sword, you know? You got to face it, but I'm keeping focused. The company's focused. And we're looking forward to great success.

BRAD SMITH: Yeah, the type of chop that can seen-- be seen during volatile moments as a publicly traded company. Not for the weak stomachs out there. David Ly, Iveda founder and CEO. David, thanks so much for taking the time here today. Appreciate it.

DAVID LY: Thank you for having us. Thank you for having me.