Cemtrex, Inc. (NASDAQ: CETX) witnessed a substantial increase in its stock price, rising by 37.83% to $4.70 at the close of the last trading session, following the announcement of a new product feature. This surge came as Cemtrex revealed plans for its subsidiary, Vicon, to initiate the beta release of an innovative Artificial Intelligence (AI) gun detection feature in the second quarter of 2024, marking a significant advancement in public safety and security technology.
The AI feature is designed to operate on edge devices, providing a cost-effective and efficient solution for identifying armed individuals in surveillance footage, thereby bolstering the capabilities of video management systems to trigger specific responses upon detection.
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The introduction of this AI feature, set for full commercialization in the latter half of 2024, underscores Vicon’s commitment to developing cutting-edge solutions tailored to meet evolving customer needs. This approach allows for real-world testing and refinement of the technology based on live feedback, ensuring the delivery of a superior product experience.
Unlike traditional server-based solutions, Vicon’s edge-based approach offers a more accessible and effective alternative. In collaboration with its technology partners, Vicon aims to provide real-time alerts and facilitate swift responses, thereby enhancing security measures and potentially averting violent incidents.
Integration of gun detection technology into video surveillance systems represents a significant advancement in safeguarding premises and inhabitants, offering reassurance in uncertain times. The forthcoming beta release will play a pivotal role in shaping a solution that truly addresses societal needs.
Cemtrex wants to enable businesses to strengthen their security procedures and more quickly and efficiently respond to any threats by lowering the cost and increasing the availability of sophisticated firearms detection equipment.
Vicon’s AI gun identification technology has the potential to support national efforts to reduce gun violence and its negative effects on communities, as gun violence is still a major problem in the United States.
Cemtrex recognizes a vast market opportunity for this feature across various sectors, including schools, hospitals, government buildings, retail establishments, and religious institutions.
