Alchera, an AI image recognition startup and a member company of Born2Global Centre, has revealed its strategy and vision just before being listed on the KOSDAQ market as of December 21.
Alchera provides a complete solution that covers collecting and editing of large-capacity image data, deep learning, AI engine optimization, and creation of dedicated solutions. The solution has secured an unrivaled position among major domestic customers as it excels in facial recognition, augmented reality (AR), anomaly detection, and data business.
Alchera's core competitiveness lies in its source technology for artificial intelligence facial recognition and anomaly detection. Alchera's AI can recognize not only human expressions but also subtle abnormal signs of objects with an accuracy of 99% or more. Instant recognition is also available.
The company has achieved grade A standards in both a technical evaluation by eCredible Co., Ltd., a specialized rating service provider, and an evaluation by Korea Enterprise Data Co., Ltd. Alchera's technological excellence has been shown when their technology was successfully applied to Shinhan Face Pay, known as Korea's first facial recognition payment system
Image recognition technology is being used in various industrial fields. Since this was first applied to the Snow Camera in 2016, it has been applied to Incheon International Airport's Automated Immigration System, the Passport Information Comprehensive Administration System of the Ministry of Foreign Affairs, the passport counterfeit detection system of the Korean financial industry, and the fire monitoring system of KEPCO. The company achieved a high level of market recognition as a result of its successfully established references.
Alchera recently launched a facial recognition-based entry control system with its own algorithm called Alchera ACS that has aggressively entered domestic and international markets. Following the KC and CE certifications, the system is waiting for certification from the Ministry of Food and Drug Safety.
Young-kyoo Hwang, CTO of Alchera, said, "In the non-face-to-face era and a trend of non-contact service, AI image recognition technology is attracting attention as an optimization solution in various areas including payment and public services, financial industry, medical services, entry control, and security services. The company expects a steep increase in sales in the future due to Alchera's source technology being a strong barrier to entry for overseas competitors who have yet to produce a similar product." He added, "The listing on the KOSDAQ is expected to be a turning point for Alchera to leap higher". He also mentioned, "We will do our best to transform into a global AI image recognition company that leads trends in various industries thanks to our overwhelmingly innovative technology."
In early June, Alchera, a member company of the Born2Global Centre, was selected as part of the Plug and Play Japan's Summer/Fall 2020 Program. Alchera has been an active member of the Born2Global Centre since 2019.
Plug and Play Japan is the Japanese office of Plug and Play, a startup accelerator based in Silicon Valley that was founded in 2017. Plug and Play Japan operates a three-month startup incubation program twice a year for businesses aspiring to enter the Japanese market.
Alchera will be taking part in the upcoming session of Plug and Play Japan's acceleration program. The program starts with an orientation session, followed by various events, such as workshops, business matching sessions, and one-on-one consultations. Due to COVID-19, the upcoming session is being operated online. Through the program, Alchera will have the opportunity to collaborate with dozens of large Japanese companies such as Toshiba, Kyocera, and Mitsubishi Electric that are partners of Plug and Play Japan.
Alchera will be announcing its performance results (including those related to the program) at the Summit (Demo Day), to be held September 29–30, 2020.
This year, thousands of businesses applied to the Plug and Play Japan program, only 20 of which (including Alchera) were selected for the program participation from the Internet-of-Things (IoT) industry.
Alchera is a developer of deep learning-based video recognition software and 3D geometry-based augmented reality software, and is known for its exclusive facial recognition technology and visual anomaly detection technology (VADT). The company also developed core algorithms for Snow camera, Korea Electric Power Corporation (KEPCO), LG Uplus and Shinhan Face Pay, Korea's first facial recognition settlement system.
CTO and co-founder Young-kyoo Hwang said, "Last year, we were accepted to Plug and Play, one of the top four accelerators in the USA, and enjoyed many opportunities to collaborate with leading partners. We are excited to be able to work with Plug and Play in Japan again this year."
Alchera's facial recognition solution was applied to San Pedro Square Market in San Jose, USA, in mid-May. The solution manages the entry and exit of employees and visitors to buildings and checks for signs of fever as part of their ongoing COVID-19 mitigation efforts.
For more detailed information on Alchera, visit https://alcherainc.com/en/.
Alchera, the leading high-tech company in South Korea and a member company of the Born2Global Centre, with the specialty of Artificial Intelligence (AI) on the facial recognition technology, exported the preventive solution of COVID-19 to San Pedro Square Market, California, on May 18, 2020.
AIIR, the access control system with the AI-based facial recognition feature, is for the promotion of safe and convenient society in the public and the private security sectors.
Alchera's facial recognition technology was ranked as the top of South Korea in the quadrennial Face Recognition Vendor Test (FRVT) 2018-2019 hosted by the National Institute of Standards and Technology (NIST).
Furthermore, in the verification field, AIIR surpassed other similar technologies with two times lower error rate in the wild video test sets on the tenacity of the alternation on illumination and facial perspectives, and the mugshot video test sets on the tenacity by the alternation of ages and races.
Young Hwang, Co-founder and CTO of Alchera, said, "The effective isolation and prevention of COVID-19 in South Korea drew the global attention on the advancement of bio and ICT technologies, and that facial recognition technology is considered as the core technology in the era of the contactless society."
Recently, AIIR was implemented in Shinhan Face Pay, which was the third deployment globally and the first in South Korea. It is expanding into application areas such as FinTech, Smart City, Building Access Control, Video metadata creation and search.