Born2Global Centre’s member startup BlueSignal is set to enter the German market, known as the traffic signal control powerhouse, with its future traffic prediction technology.
BlueSignal announced on March 12th that together with Hamburg City Hall in Germany, it will provide a local future traffic prediction solution starting in April.
The AI traffic prediction solution developed by BlueSignal is a technology that analyzes various traffic data to predict congestion or danger at specific times and places.
BlueSignal's solution will play a role in generating predictive information through big traffic data analyses and delivering it to the Hamburg signal control system. This system will be implemented in the regions of Willy-Brandt Straße (St. Pauli) to Klostertor and Deichtor.
CEO Jason (Seng Tae) Baik said, “BlueSignal has already been recognized for its technology in predicting traffic flow speed based on traffic congestion in the 2020 Dubai Signal Optimization Project. As it is unique in that it has been recognized in the traffic signal control field that companies are striving to achieve, BlueSignal will do our best to spread Korean technology to the outside world.”
Meanwhile, BlueSignal is focusing on local smart city projects with the aim of expanding into the European market. Discussions are underway with four specialized affiliates within the global transportation company SWARCO Group on how to apply smart city solutions to reduce traffic congestion, mainly in ports, tunnels, and downtown parking areas.
BlueSignal, a member company of the Born2Global Centre and Sejong Technopark, uses an AI-based traffic prediction engine to develop diverse platform services that offer various traffic information, tailored to the needs of the transportation industry and related industries.
The company develops innovative service models for the auto, distribution, traffic signal, and insurance industries. These service models can be changed by manipulating the predictive data, providing each industry with the information that best suits its needs.
Ability to predict traffic conditions, anywhere from three seconds to six hours in the future
The service models can be used to predict traffic conditions anywhere from two minutes to six hours in the future. The services provided by BlueSignal have an accuracy level of 94.28 percent—the highest in the world.
Jason (Seng Tae) Baik, CEO at BlueSignal said, "A tragedy caused by a relatively small traffic problem eventually led to the creation of a startup. I wanted to solve problems that no one had attempted to solve. My sense of mission is actually growing the more we find answers to the traffic problem, which is definitely a social issue."
BlueSignal offers three main solutions: Signal Optimizer, Safe Driving Advisor, and Congestion Prediction.
The Signal Optimizer is a solution that optimizes all of a city's signal cycles in each direction to predict future traffic volume and uses this data as the basis for controlling traffic signals. This solution can be used with existing infrastructure.
This solution forms the foundation of real-time signal cycle control, which is an integral part of any smart city's future traffic prediction system. It has the special advantage of being able to provide benefit without changing the transportation infrastructure. Not only overseas, but also Korean local governments (Daegu, Busan, Sejong) are discussing plans to apply this solution to their system. In particular, in the case of Daegu, this solution will be introduced starting from 2021 and apply it through technology to all of its cities.
Safe Driving Advisor solution consists of hardware, which is an edge-based camera sensor that can analyze image images, and situation analysis processing software. This solution analyzes and warns the user of an unexpected situation of a pedestrian or vehicle might face which the sensor from Radar, Lidar (Light Detection and Ranging), and vehicle sensor may not recognize.
By warning of unauthorized crossings, blind spots, traffic violations, and lane violations in advance, both pedestrians and vehicles can cope with unexpected situations. This is expected to be a key technology that enables autonomous vehicles to travel safe in urban areas or intersections.
This technology will be applied to the entire Sejong City area after it is tested in Sejong City in 2021. With high interest, China and the Middle East are under discussion with BlueSignal to possibly adopt this system in their country.
For the Risk/Congestion Prediction, an AI algorithm uses information—such as real-time road conditions (including driver tendencies), past data on the desired route, real-time vehicle status (such as acceleration, deceleration, and distance between vehicles), etc.—to ascertain different degrees of risk. Based on this information, the service then gives the driver directions via a navigation system or HUD for the quickest, safest route.
This solution can potentially reduce traffic congestion and/or accidents and is based on an independently-developed prediction engine technology that is already known for its world-class quality.
In 2018, BlueSignal was selected as one of the world's top seven companies by Infinity Lab. The company was also the first Korean company to be recognized at the International Intelligent Vehicle Expo for its technology in Beijing. BlueSignal's third major solution, Congestion Prediction, is a new kind of mobility solution that accurately predicts traffic conditions and signals along the road to the driver's destination and proposes the quickest, most risk-free route.
Based on its technical prowess, BlueSignal has also advised the SK Telecom Research Center on future prediction algorithms. Foreign companies and government institutions among the first to acknowledge the company's innovative solutions. In addition, BlueSignal is also discussing cooperation with various German transportation related companies increasing its spotlight towards its excellent technology.
BlueSignal's main clients are B2Bs and B2Gs, most of which are foreign automakers, distributors, and transportation-related state institutions.
It was these types of companies and government institutions—including major cities in the UAE and China and Brazilian public institutions/companies—that first recognized the innovativeness of BlueSignal's traffic solutions. Most of these companies/institutions come to BlueSignal with requests for an effective signal control system, based on predictive transportation data), or a transportation system that connects to an established network. BlueSignal signed an MOU with the China Hualu Group for RMB 41 million.
Preparations are also underway for a collaborative project between BlueSignal and Abu Dhabi's Department of Transport as well as a project with ADNOC related to the shipment of Middle Eastern oil and will be work with base industries in Dubai to supply key technologies for the transportation of the future (taxis, airports, smart messaging systems, etc.).
Independent funding without outside investment—a sign of high business potential
Until very recently, BlueSignal conducted business without the help of outside investors. The company's stance, from the very beginning, was that it wanted to work and grow with the partners of its own choosing. It is because of this sense of independence that BlueSignal's growth engine and potential are being so highly evaluated.
BlueSignal is currently receiving investment proposals from relevant companies and public institutions in the US, China, Australia, and the Middle East and is engaging in negotiations with outside investors to usher in a new phase of growth and possibilities.
Its goal at the moment is to establish a "global standard intelligent, AI-based traffic prediction service platform."
By creating a system that can easily be applied to diverse industries in different countries, BlueSignal hopes that its solutions can be used even more easily and conveniently.
Making social contributions by sharing technologies with the public
Baik said, "We are going to keep striving to make our technologies the key technologies that are at the forefront of smart transportation. We want to teach our prediction technologies to ordinary consumers as a means of reducing traffic congestion and accidents—this is our contribution to society."
Korean startup BlueSignal has developed a new smart mobility solution that can accurately predict traffic conditions and signals, from a driver’s starting point to their final destination, guiding them along the quickest and safest routes.
Much like accurate weather forecasts are used to predict meteorological conditions, BlueSignal’s futuristic platform uses artificial intelligence (AI) to analyze traffic conditions and patterns and then provide accurate traffic and journey time predictions. BlueSignal is a member company of the Born2Global Center, a major Korean government innovation agency that operates under the country’s Ministry of Science and ICT (MSIT) and contributes to the national startup ecosystem. BlueSignal’s AI-based Future Traffic Forecasting Solution uses machine learning technology to collect a diverse and massive amount of traffic environment information, such as traffic volume in certain areas, traffic light systems, vehicle speeds, risks, congestion, and incidents, to provide drivers with optimized traffic data.
The solution’s most competitive feature, by far, is its prediction accuracy, which is one of the world’s best for this type of system. An assessment of BlueSignal’s traffic prediction platform, conducted by the Telecommunications Technology Association of Korea (TTA), on approximately 500 Korean roads, showed that the platform’s forecasting is 94.8% accurate. With the platform, drivers can use a navigation service or HUD (Head-Up Display) to take the safest and quickest route to their destination and avoid many of the dangerous traffic situations and/or congestion-prone areas along the way. By predicting traffic in real-time, the system also helps reduce the time drivers spend waiting at traffic lights. Ultimately, the system not only helps prevent traffic accidents, but also minimizes the social costs of traffic congestion.
BlueSignal says the system can also be used as a core technology for autonomous vehicles (AVs), as it not only predicts traffic conditions to prevent accidents, but could also enable defensive driving by predicting the possibility of accidents with nearby non-automated vehicles.
BlueSignal and its innovative technology have already been receiving international recognition. In 2016, BlueSignal won a US$5m (KRW6bn) contract with the Shenzhen Municipal Government in China for its traffic situation prediction platform, and in 2017, it became the first Korean company to receive the Judge’s Special Award at the International Intelligent Vehicle Expo, held in Beijing.
BlueSignal was also selected for Nissan’s Infiniti division’s ‘Infiniti Lab, Smart Mobility’ program and, will also soon be launching a service for Infiniti, connecting its traffic prediction/analysis platform with HUD. Currently, BlueSignal is creating business models in diverse areas, including cars, distribution, emergency/disaster care, and smart cities, for distributors in Abu Dhabi and Thailand, and Korean telecommunication companies, while also working on a membership service that will make its platform more readily available to individual consumers.
BlueSignal’s CEO Jason (Seng Tae) Baik, said, “In the movie Minority Report, the main character arrives at his destination quickly and safely in his desired timeframe by observing traffic conditions via HUD. I hope that our prediction and analysis solution can help reduce the social costs of traffic congestion and create a safer and more comfortable driving environment.”
Born2Global Centre: firstname.lastname@example.org
On March 22 K-ICT Born2Global Centre (B2G) held the “Go-To-Market Road show @ Hanoi: IR Pitching Event” at Grand Plaza Hanoi Hotel in Vietnam.
Ten innovative companies pitched their impressive ICT technology. Five judges, including experts VCs, accelerators, entrepreneurs and corporate partners assessed all the contestants on their company's technological, market and team competencies. As a result, MOIN in Korea and HACHI in Vietnam got selected as the most outstanding companies respectively. After the IR and networking session, technology and products of each company were demonstrated.
At the event, MOU was signed between Born2Global and Vietnam Silicon Valley (VSV). Both organizations agreed to cooperate in joint development of promising innovative technology companies in Korea and Vietnam and share enterprise support programs.
The programs consist of: 1) domestic and overseas investment of ICT sector's innovative technology companies, 2) joint establishment of key strategies for successful overseas expansion, 3) providing connection with the key programs needed for fostering companies, 3) sharing information on eco-system in each country to find ICT promising companies, 4) search for other effective and productive ways of mutual cooperation.
“We have signed a MOU to promote Korea's ICT promising innovative technology company in Vietnam which we hope will act as a booster,” said JongKap Kim, Chief Executive Director of B2G, as he kicked off the event. “Korea and Vietnam will work together to develop technologies and businesses. We will share our strategic know-how and look for ways to link them together,” he added.
Few of the participating companies are listed below:
A smart factory platform for control & analyze the data by AI, based on IoT and clouding for small and medium manufacturing companies. Just install the Wimfacotry on the equipment in the production line. It can check real-time data of factory facilities, operation status, and malfunction status.
Predictor of future driving risk rates and traffic status based on traffic data and artificial intelligence algorithms. Highly effective for improving the prediction of transportation accuracy and traffic flow.
FlyHigh specializes in security. If there's a difference from an existing security company, FlyHigh is focusing on real results and convenience. So they create a product that's not existing. Or they make existing products easier and more effective. It is the secret FlyHigh won with big companies until now.
MOIN develops a global money transfer service based on Blockchain technology. MOIN provides overseas remittance among South Korea, Japan, and China at present and plans to expand into Southeast Asia countries
MySnappyPOS is an easy and instant payment service app for small/individual merchants who want to be able to accept credit card payments and Apple Pay, using only a smartphone. By enabling payments without a traditional POS system or credit card terminals, MySnappyPOS turns your smartphone into anywhere payment terminal.
GSIL’s Smart Construction Safety Management System is a total safety management platform for construction. GSIL provides accident prevention, safety examinations, field monitoring services and real-time worker location service solution using IoT wearables.
Peko offers a suite of CRM and mobile payment platform that helps drive business online to offline retail shops in a sustainable and low-cost way. Through gamification, Peko rewards both shops and shoppers to transact together with the best value.
Hachi system can apply hydroponic system, drip irrigation and IoT to increasing productivity to 50-300% higher than normal. We connect and help farmer sell vegetable to restaurant after they harvest.
Cloud-based platform and customized solution that makes simplify secured file sharing & collaboration on Cloud for internal & external business. 689Cloud developed by global team (US, JAPAN & Vietnam) experienced in Cloud & security solution since 2013, and launched to the market in Oct 2017, in Mar 2018 some major customers like VIB Bank, QTSC, UEL University started using the product.
Online work management platform for enterprises: Flexibly manage multi projects, easy collaboration in real time notifications and dash board reports.
BlueSignal, a company that has developed an AI-based solution capable of predicting future traffic conditions, will soon be entering the U.S. market.
BlueSignal, a member company of K-ICT Born2Global Centre, announced that it has secured a foothold in the U.S. market by signing an MOU with CarForce on November 15, during the K-Global @ Silicon Valley event.
Based in San Francisco, CarForce is a company that uses connected devices to provide car-related data in real time and is currently collaborating with AT&T. With the signing of the MOU, BlueSignal expects to achieve an even higher accuracy rate for its predictions of future traffic conditions based on the real-time car data provided by CarForce. On the other hand, CarForce will be able to add BlueSignal's data on diverse future traffic conditions to its car data, resulting in a productive collaboration that is beneficial to both parties.
BlueSignal CEO Jason Baik said, "BlueSignal's technology, which can predict traffic conditions up to two kilometers ahead of a car, is being actively sought by foreign automakers, distributors, and governments of major countries and is now becoming increasingly recognized for its effectiveness. Our recent MOU with CarForce will enable us to not only enter the U.S. market in earnest but also do our part in terms of giving back to society by making BlueSignal's predictive driving technology publicly available through diverse references and experiences."
After receiving an award at an advanced intelligent car technology contest earlier this year for its predictive driving technology, BlueSignal gave a presentation on this technology at the invitation of Singapore's Smart Nation Project. In June, it was selected as a finalist of the Smart Mobility Lab, which is a technology collaboration program run by Infiniti. BlueSignal was one of seven companies selected from around the world.
Currently, BlueSignal is negotiating with NDA and POC planning to sign contracts with prominent foreign automakers and taking necessary steps to apply its predictive driving technology to automobile equipment. By cooperating with Shenzhen Municipal Government, BlueSignal has designated five testbed locations and is conducting various tests at each of them.
In addition, BlueSignal is negotiating with ITS Austria regarding an investment that exceeds the usual Series A investment amount and considering a collaborative project with Pantonium, a Canadian company that provides a dynamic software platform that handles dispatching and routing for vehicle fleets of public and private transportation.