Alchera (CEO Hwang Young-gyu), an image recognition artificial intelligence solution company, is earnestly entering the overseas market with FireScout, a SaaS-based forest fire early detection solution.
Alchera’s FireScout uses AI algorithms to detect fires in their early stages. When abnormal signs such as smoke are detected, it quickly analyzes CCTV footage to determine whether there is a fire and then notifies the forest fire monitoring center. This process reduces the notification time by up to 2 hours compared to existing systems, making it possible to extinguish fires at an early stage. This protects the community by preventing damage to property and people.
Alchera plans to expand its global market share by actively targeting the Middle East market. In the Middle East, there is growing interest in projects to build digital government systems and AI. In the United Arab Emirates, the AI industry is expected to be worth $96 billion by 2030, or about 14% of the country’s gross domestic product, and AI technology is being actively applied to all industries in the UAE.
In August 2023, Alchera announced a business agreement with Thuraya, one of the top three satellite communications companies in the world, to expand the detection range of FireScout. Thuraya is a UAE-based satellite operator founded in 1997 and a subsidiary of Yahsat, a UAE state-owned company that provides multi-satellite services. Thuraya provides telecommunications services to a total of 161 countries, including Europe, the Middle East and North Africa. According to the “Satellite Communication Global Market Report 2023” prepared by The Business Research Company, a UK-based market research firm, the global satellite communication market will grow from approximately USD 54.6 billion in 2022 to approximately USD 61 billion in 2023, with an annual average of USD 11.8 billion. It is predicted to grow at a CAGR of %.
As part of this agreement, Alchera demonstrated its products at GITEX 2023, the largest IT exhibition in the Middle East at the Dubai World Trade Center in the United Arab Emirates. Compared to the existing CCTV system, FireScout has the advantage of not being limited by space, as it can provide services in areas without a network system.
Hwang Young-Kyu, CEO of Alchera, said, “Alchera’s technology, which is characterized by high efficiency and accuracy, is receiving great attention in the Middle East region, which is striving to innovate digital technology. Alchera’s proprietary technology, which is not limited by data and devices, will set the global standard for AI technology.”
Hong Hyun-jin, Alchera’s Chief Operating Officer and CEO of Alchera X, Alchera’s U.S. subsidiary, said, “Alchera’s ultimate goal is to fuse advanced AI technology with our wildfire risk management system and then go one step further to transform the entire disaster management business.” He continued, “We are discussing various collaboration opportunities with companies in various industries, such as fire retardant materials, transportation and mobility for fire prevention, as well as projects to reduce carbon emissions.”
Alchera is headquartered in Pangyo Techno Valley and has established overseas offices in the United States and Vietnam to provide services to overseas customers. FireScout currently monitors wildfires in a total area of 87,200 square kilometers in various countries, including the United States and Australia.
For inquiries and connections with Korean tech companies mentioned in this article, contact us at [email protected]. We’re here to facilitate valuable partnerships.
Read more from KoreaTechToday:
- VESTellaLab Inc.’s Car Navigation Device for Parking WatchMile Won the MOFA Award at WACON 2023 Designated by the Government
- Goorm and Kakao Unveil “Krampoline IDE”: A Game-Changer in Cloud-based Education Platforms
- Kainos Medicine Selected by Global Data as Promising Parkinson’s Disease Treatment Development Company
- Hanwha Aerospace Signes a Supply Contract Worth KRW 235.6 Billion with Vertical Aerospace, a British UAM Developer
- Naver Seals $100M Deal for Saudi Digital Twin Platform Project
