Imagine if parking your car was as easy as finding a spot, doing your thing, then driving off again with any fees being automatically deducted from your account. Yuntu WiseVision is making this a reality through edge computing and AI.
Currently, across 23 cities in China, 100,000 parking spots have 36,000 smart cameras monitoring and enabling this “smart parking” feature. Operators are able to obtain real-time parking space and status updates via cameras that can intelligently analyze vehicle entry/exit conditions through AI and edge computing, as well as generate billing orders that can be paid via WeChat, Alipay, or other third-parties.
By intelligently automating every day public services such as parking, Yuntu WiseVision’s technology solutions can help consumers save time and track fees, whilst also increasing government revenue through manpower cost-savings and 24-hour automatic billing. However, paving the way for smart cities via smart parking solutions, is only the tip of the iceberg for Yuntu’s offerings.
Yuntu WiseVision believes edge computing is the next technology that will take IoT, cloud computing, and networks to the next level. By computing at or near the source of the data, instead of relying on the cloud at far away data centers, edge computing essentially brings the cloud to you. Yuntu hopes to strengthen the potential of edge computing through AI and 5G, and bridging the gap between AI developers and end-users. Yuntu offers an open platform for edge and AI processing (Yuntu AI-Box), an open operating system (Yuntu AI-OS), and an online AI algorithm store (Yuntu AI-Store), the latter being made possible through Intel’s GrowthX acceleration program.
In Q4 2020, Yuntu WiseVision was a participant of the 10th Batch of the Intel® GrowthX startup acceleration program. GrowthX is an award-winning corporate innovation accelerator that has launched multiple new businesses generating $400M+ in projected revenues through bottoms-up innovations in areas of AI, IoT, 5G, and new silicon technology. It was at GrowthX that Yuntu successfully built MVPs and launched their first AI Algorithm Store.
Yuntu WiseVision’s AI Algorithm Store is an online AI subscription platform where AI companies can contribute algorithms and end-users (system integrators) can subscribe and deploy them to local devices. As developers often struggle with selecting platforms and deploying algorithms, and users face difficulty finding and testing suitable algorithms, Yuntu AI-Store bridges this gap and connects AI developers and AI users.
Lean Startup methodologies practiced at GrowthX enabled Yuntu WiseVision to clarify their value proposition, test various business hypothesis through building quick MVPs. Partnering with Intel business units as well as AI100 helped Yuntu further develop their platform and apply Intel’s products: Movidius and OpenVINO 2020 R1/R2 as the runtime environment. This collaboration helped Yuntu to build their platform with Intel’s technology and support the growth of Intel’s business ecosystem, which is exactly the kind of mutually beneficial relationship that GrowthX strives to create.
Yuntu WiseVision is also remaining as a standard and open platform in hopes of engaging a wider audience. Third parties are welcomed to build upon and integrate with the platform to add functionality, applications, and platform services, and co-create the bigger potential that Yuntu sees.
Behind the scenes, Yuntu WiseVision is led by Yuri Meng (CEO). Yuri and his team have extensive industry, technical development, academic, and patent experience, and have successfully launched numerous projects in the past. The strong team is poised to push forward the edge computing and AI industries and is already making waves in smart cities and agritech.
By November 2020 Yuntu WiseVision have already signed CNY 15 million in sales contracts, proving that edge computing and AI are not just talk of the future, but a real movement that they’re making happen now. The next big step for Yuntu is fundraising for their Series A to help them scale to the next level, and they invite anyone that’s interested in investing in the future that Yuntu and Intel are creating together to get in touch!
Intel® GrowthX is an innovation platform helping Intel grow inorganically and exponentially through the power of entrepreneurship and principles of open innovation, design thinking & lean startup. We accelerate ideas and innovations coming from both internal as well as external innovators by building exciting new use cases and business applications on top of Intel’s core technologies.