BrainChip makes AI European market move courtesy of deal with SoftCryptum

BrainChip ASX BRN AI European market SoftCryptum
BrainChip has signed a strategic partnership agreement with SoftCryptum to sell BrainChip’s AI-powered video analytics solutions to government agencies in France, Belgium and Switzerland.

Artificial intelligence developer and “neuromorphic” computing company BrainChip (ASX: BRN) has forged significant inroads into the European market by signing a strategic partnership agreement with French-based company SoftCryptum.

The deal ensures BrainChip’s AI-powered video analytics solutions will be provided to government agencies in France, Belgium and Switzerland.

The partnership effectively extends BrainChip’s work with government agencies given that SoftCryptum already sells security and data analytical solutions with a specific focus on government departments that require video and image content analysis tools for CCTV footage.

BrainChip’s unique award-winning technology is said to be “ideally suited” in analysing footage collated by government agencies, often with technology already being sold by SoftCryptum.

Multifaceted synergies between the two companies is partly what attracted the French company to strike a reseller agreement with BrainChip.

The fact that both companies have existing strong links to government agencies was also a significant factor that helped seal a deal.

“The fact that BrainChip Studio is being successfully utilised by government agencies highlights the benefits it can offer to other security agencies. We will use our growing customer base to further accelerate the adoption of BrainChip’s technology,” said Guillaume Tissot, co-founder and president of SoftCryptum.

“With a solid network of contacts in law enforcement, defence and intelligence agencies, our company is well positioned to help promote, install and support BrainChip’s AI-powered software and hardware solutions,” he added.

Based on “spiking neural networks”, BrainChip’s video analytics solution has already been commissioned by several European government agencies with the effect of helping to speed up investigations.

According to BrainChip, law enforcement agencies require a way to rapidly sift through terabytes of recorded video to identify and track complex characteristics of suspects and witnesses, including faces and patterns on clothing.

BrainChip Studio software enables instant training of many types of objects and patterns in the field, making its technology perform “20-times faster than a human operator”, BrainChip stated.

Artificial intelligence technology applications

The ASX-listed company says it is a leading developer of software and hardware accelerated solutions for advanced AI and machine learning applications and intends to take its products to market globally, with tests already having been done in Las Vegas last year.

Also, BrainChip showcased its software engineering forum multiprocessor system-on-chip (MPSoC) at a primetime technology conference in Utah in August this year.

One of its other prime products is a neuromorphic system-on-chip (NSoC) – a first of its kind product that intends to streamline how existing electronic equipment such as driver assistance systems, autonomous vehicles, drones, vision-guided robotics and surveillance equipment operates.

“This new partnership strengthens the visibility of BrainChip Studio in European government agencies and improves operational and sales efficiency for our business. SoftCryptum has long-established relationships within many government entities, and we expect to see many new customers implement our technology as a result,” said Luis Coello, BrainChip’s director of EMEA.

George is an award-winning market analyst who has authored articles and editorial opinion pieces for multiple publications around the world. He has written about a wide variety of topics including financial markets, stocks, trading, politics and economics.