BrainChip Limited (ASX:BRN) CEO, Louis DiNardo talks about SNAP, how this technology mimics the human brain and the company’s recent deals.
BrainChip has developed a neural networking core (which is used in video processing, voice processing, and audio processing), as well as big data processing – to replace microprocessors or graphics processing units, with a much much more effective implementation.
So an emerging marketplace, which is really explosive – you turn on the news, read the newspaper almost every day and you hear about artificial intelligence, and next generational artificial intelligence. BrainChip has a hardware-accelerated solution, which really competes quite favourably with all of the software implementations.
SNAP vision is one segment of our marketplaces which we address that is for vision, or image processing. We also have the capability to do audio and we have the capability to do analytics on the big data transactions. Essentially, what we’re doing is mimicking how the brain works. Rather than a microprocessor or graphics processor that goes through serial sets of instructions, we work like a brain. We have synapse and we have neurons. All of the data hits all of the synapse at the same time. The data gets processed, gets fed back and we can learn autonomously without a big software overhead, or microprocessor and external storage.
With a win at the casino (which has been deployed, and we’ve moved through pre-trials into larger scale deployment) is an application where we can, in real time, process a card as it gets dealt. We can look at chips as they’re paid off and there’s a great deal of analytics that the casinos, would like to do with that data. Make sure that pay offs are paid properly, make sure that deals are made correctly, as well as do analytics on how much an individual player is playing. So we’re moving beyond one casino into our second and third. We think it’s a very ripe market; it’s a global marketplace. And it’s a very important application for casinos to save money – which we then get to share in.
Game statistics is an analytic tool that casinos can use with the data that’s acquired from our SNAP vision technology. They can determine how frequently a player plays, how much a player pays off in bets, or is taking income from bets. And that will allow them to do their complimentary services more efficiently to the right players. It is ready for market. Both the game statistics and the game outcome are ready for market. And we’re getting traction with multiple casinos around the world.
The company’s cash position was about $2 million – give or take a little bit. I don’t know the exact number, but that was what the last quarter statement looked like.
In 12 months, I’d like to see the company with a more fully commercialised product – something that has won in the casino space in a more broad way, and has won in surveillance applications. We’ve been deployed in several airports. We’ve been deployed in a school system, or school district for video surveillance on site. I’d like to build out a management team that’s fully fleshed out, and make sure that we’re achieving profitability and meaningful revenue growth.