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Brainchip Holdings Ltd (ASX:BRN) is an information technology company based out in Australia with regional offices in the USA and France. It provides an artificial intelligence (AI) technology that simulates the functionality of the human neuron known as Neuromorphic computing.
It acquired Spikenet in 2016 to develop spiking neural network (SNN) technology which works like a brain. Its award-winning technologies introduced in 2017, BrainChip Studio and BrainChip Accelerator quickly search huge amounts of video footage and identify objects or faces.
In 2018, the company introduced Akida Neuromorphic System-on-Chip (NSoC), a new neuromorphic computing chips that put artificial intelligence at the edge.
Today, BRN has signed a partnership agreement with SoftCryptum. The deal allows BRN to sell its AI-powered video analytics solutions to France, Belgium, and Switzerland government agencies to help them speed up the investigations. Several European government agencies are already using its technology.
SoftCryptum is a 20 years old information technology company based out in Paris, France. It caters to the software security industry. It has sold data analytical solutions to more than 250 different government agencies across the world. It is a trusted adviser bringing expertise and experience in implementing solutions. SoftCryptumâs security and data analytics solutions are ideally suited to analysis using Brainchipâs technology.
The BrainChip Studio software rapidly analyses almost 20 times faster than a human operator through terabytes of recorded video to identify and track complex characteristics of suspects and witnesses, including faces and patterns on clothing.
The SoftCryptumâs management commented that it could offer various benefits to the government agencies as many agencies are successfully utilizing the BrainChip Studio. It will further increase the adoption of BrainChipâs technology through its growing customer base. SoftCryptum is well positioned to help promote, install and support BrainChipâs AI-powered software and hardware solutions through its robust network of contacts with government agencies.
As per the BRNâs management, it is excited to enter into this reseller agreement as this partnership would improve operational and sales efficiency and strengthen the visibility of BrainChip Studio in European government agencies.
On 4 January 2019, the company provided an update over its video analytic technology with Gaming Partners International (GPI). In January 2018, BRN and GPI entered into an agreement to develop a technology in support of GPIâs Automated Table Solution (ATS) using SMART RFID technology. It is targeted for production release in January 2019. Angel Koda, Kyoto, Japan has recently acquired GPI due to which the agreed Commercial agreement which was expected to be executed in November 2018 got delayed.
The company also provided an update on SN Tech over the disputed invoice for deployment at the Lockport School District in New York. BRN had conducted a preliminary audit which got completed in November 2018 with incomplete information being provided. Now, the company has requested for the information directly from the Lockport School District through a Freedom of Information Act (FOIA).
During the past one year, the stock has generated a negative yield of 60.44%. Today, the scrip soared by 7.865% and closed the session at $0.096.
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