While facial recognition continues to fall in and out of favour with the everyday Aussie, measuring privacy concerns against functionalities, AI product developers like dorsaVi (ASX: DVL) have carried on, creating niche AI products that could be worth their salt.
The Company, which develops FDA-approved wearable sensors and specialises in human movement analytics, has integrated real-time facial tracking into its suite of AI-powered video tracking capabilities in the ViMove+ platform. Once the medical-grade sensor has been placed on the human body, the app begins analysing and hunting for data that can be used to enhance performance or design treatment.
dorsaVi’s Chief Executive Officer, Dr Andrew Ronchi, said, “This significant achievement showcases our dedicated in-house AI capabilities. By delivering touchless video solutions that complement our FDA cleared sensors, we reassert our position as the leading provider of human movement tracking globally.
“Achieving real-time facial tracking allows us to boost our privacy protections which has been crucial in strengthening existing partnerships and establishing new ones. We are excited about the innovative features on the horizon and the prospect of welcoming new clients throughout the year.”
The progress builds on the successful creation of lower limb tracking accomplished in September 2023. The Company has been enhancing its ViMove+ platform with non-intrusive, AI-driven, highly accurate movement tracking capabilities through video recording. This platform directly complements dorsaVi’s core sensor technology, which is currently utilised by prominent entities such as Medtronic and QBE Insurance Group.
dorsaVi develops motion analysis device technologies for various applications, including clinical settings, elite sports, and occupational health and safety. In H1 FY24, dorsaVi recorded sales revenue of $610k, marking a 31.5% decrease compared to the same period in FY23. It also secured new deals worth $546k, including a multi-year US agreement with two institutions: Norton Healthcare and Georgia Southern University.
Without requiring physical sensors, ViMove+ video AI offers several advantages, including capturing and analysing more natural movements and improving the company’s scalability, margins, and delivery costs. For instance, it allows experts to automatically track the angular mechanics of runners and provide real-time data to physicians.
The integration of real-time facial tracking was pivotal for anonymising individuals during video recording by applying facial blurring. This significant enhancement in product functionality enables dorsaVi to conduct contactless movement analysis while adhering to strict ISO27001 standards and privacy regulations, overcoming crucial technical obstacles necessary for engaging with enterprise-level clients.
As part of the Company’s strategic focus on product advancement, a beta version of the video capture module is currently being evaluated by 15 customers in the United States, preceding a commercial release scheduled for Q4 FY24.
Going forward, dorsaVi plans to introduce an upper limb module in the first quarter of FY25. The Company is also in the advanced stages of developing a swing-based module tailored to analyse intricate movements in golf, tennis, and baseball.
Alinda is a Business Reporter for The Sentiment
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