Google cloud’s unit just announced the launch of a threat intelligence and cybersecurity operations platform using generative artificial intelligence (AI). Alphabet’s (NASDAQ:GOOGL) Google Cloud Security AI Workbench combines its Mandiant cyber intelligence unit, Chronicle security operations platform, Vertex AI infrastructure, and Sec-PaLM AI model. Analysts can upload potentially dangerous code to Sec-PaLM, receive breach notifications from Mandiant, and communicate with Chronicle’s AI about Google’s previous security data. The AI would analyze malware, determine how hackers could penetrate a system, and provide quick answers. In recent months, generative AI applications like ChatGPT have garnered attention. Cybersecurity researchers say these platforms could enable new criminality by delivering creative, appealing phishing emails or infection code. AI is also being utilized by the security industry to help enhance safety. Knightscope (NASDAQ:KSCP) has developed Autonomous Security Robots (ASRs) to protect people where they live, work and visit using a unique combination of self-driving technologies, robotics, AI, and electric vehicles. Microsoft (NASDAQ:MSFT), Amazon (NASDAQ:AMZN), and Palantir Technologies Inc. (NYSE:PLTR) are also working on robotics or AI solutions to improve security.
Knightscope (NASDAQ:KSCP), a leading manufacturer of ASRs and blue light emergency communication systems, has continued to deploy cutting-edge security equipment in healthcare facilities, educational institutions, office buildings, municipal governments, and corporate campuses around the country.
Knightscope has completed around 40 new sales and renewed eight ASR subscription contracts since the beginning of the year. The company has also received several new purchase orders from its resellers.
On May 9, Knightscope announced that a well-known media and entertainment company has renewed its contract to continue patrolling one of its North Hollywood properties for the seventh year in a row.
This client, a Knightscope early adopter who wishes to remain anonymous, first signed a contract in the hope that an Autonomous Security Robot (ASR) would assist deter the criminal trespassing, criminal mischief, and theft that occurred previous to the robot’s arrival. After six years of uninterrupted service, the client renewed its contract for another year of 24-hour/365 service.
In addition, Knightscope was awarded a contract to service 103 emergency phone systems by Texas State University. The acquisition of CASE Emergency Systems by Knightscope in late 2022 will continue to deliver top-line revenue growth. Knightscope, like its ASR business, is fundamentally a service provider. Public safety officers are highly regarded and demand rapid, easy, tailored, and empathic care in order to assist in protecting the locations where people live, work, study, and visit.
On April 19, Knightscope announced that it had decreased its $5 million backlog of new orders by more than 12%. Over the last 30 days, the company has shipped several ASRs to California, Florida, New York, Washington, and Washington DC.
Westland Real Estate Group, which operates over 65 residential communities on the west coast, also renewed its contract for a Knightscope K5 ASR to patrol one of its high-crime Las Vegas residential neighborhoods.
Knightscope also recently announced that the New York Police Department (NYPD) signed a pilot contract for K5 robots to patrol a Manhattan subway station this summer.
Other police departments have successfully used Knightscope‘s technologies in the past, with one Los Angeles County, California, agency praising the company for reducing crime in a major public park. Knightscope is an excellent tool for public safety personnel to supplement their agencies, which are usually overworked due to major recruiting issues. The robots are amusing, engaging, photogenic, and respectful of everyone’s privacy, making them ideal candidates to assist law enforcement across the United States.
AI Is the Next Growth Driver for Tech Companies
On April 25, Alphabet (NASDAQ:GOOGL) said that Google’s cloud business is profitable, for the first time since the company began reporting operating metrics for the division three years ago. According to Alphabet‘s earnings report, the sector achieved $191 million in operating income on $7.45 billion in revenue in the first quarter. The unit lost $706 million on $5.82 billion in revenue in the previous quarter. The Google Cloud Platform, which leases out cloud infrastructure and services that businesses may use to build and run their own apps, as well as Google Workspace productivity software subscriptions, are part of the cloud business. The company now accounts for 10% of Alphabet‘s overall revenue.
Microsoft (NASDAQ:MSFT) recently launched Microsoft Security Copilot, a tool that helps defenders with swiftly detecting and responding to threats and to help them better understand the broader threat landscape. Security Copilot will leverage an easy-to-use AI assistant to enhance the work of security professionals by combining Microsoft’s massive threat intelligence footprint with industry-leading knowledge. Security Copilot was developed to work in tandem with security teams to allow personnel to see what is going on in their environments, learn from existing intelligence, correlate threat activity, and make more informed decisions at machine speed.
On April 24, Amazon Web Services, Inc. (AWS), an Amazon.com, Inc. (NASDAQ:AMZN) company, announced three new capabilities for Amazon GuardDuty, AWS’s threat detection service, that improve customer security through expanded coverage and continuous improvements in machine learning, anomaly detection, and integrated threat intelligence. AWS security services like GuardDuty help clients identify and resolve security concerns quickly, freeing up security experts to focus on high-value work. Three new features extend GuardDuty security to database, serverless, and container runtime behavior. EKS Runtime Monitoring helps clients discover threats in containerized workloads. GuardDuty RDS Protection protects Amazon Aurora databases, while GuardDuty Lambda Protection detects serverless app dangers.
On April 25, Palantir Technologies Inc. (NYSE:PLTR) released a video demo of the Palantir Artificial Intelligence Platform (AIP). The system’s main objective is to integrate large language models (LLMs) like OpenAI’s GPT-4 or Google’s BERT into privately maintained networks, but they initially applied it to modern warfare. In the video demo, a military operator monitoring the Eastern European theater discovers enemy forces massing near the border and requests help from a ChatGPT-style digital assistant with deploying reconnaissance drones, devising tactical responses to perceived aggression, and jamming enemy communications. After the operator requests clearer photos, the AIP launches a Reaper drone on a reconnaissance mission and suggests responses if an armored part is found.
Knightscope has continued to showcase its ASRs and blue light emergency communication systems at the Robot Roadshow, an exciting and attention-grabbing event designed to build direct interactions with potential clients and stimulate conversations about the company’s unique technology. The Robot Roadshow has landed in 79 states so far. The next stop being Jena Choctaw Pines Casino in Louisiana on May 9-11.
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6) This document contains forward-looking information and forward-looking statements, within the meaning of applicable Canadian securities legislation, (collectively, “forward-looking statements”), which reflect management’s expectations regarding Knightscope, Inc.’s future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. Wherever possible, words such as “predicts”, “projects”, “targets”, “plans”, “expects”, “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “anticipate” or “does not anticipate”, “believe”, “intend” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements. These forward-looking statements include, among other things, statements relating to: (a) revenue generating potential with respect to Knightscope, Inc.’s industry; (b) market opportunity; (c) Knightscope, Inc.’s business plans and strategies; (d) services that Knightscope, Inc. intends to offer; (e) Knightscope, Inc.’s milestone projections and targets; (f) Knightscope, Inc.’s expectations regarding receipt of approval for regulatory applications; (g) Knightscope, Inc.’s intentions to expand into other jurisdictions including the timeline expectations relating to those expansion plans; and (h) Knightscope, Inc.’s expectations with regarding its ability to deliver shareholder value. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about: (a) the ability to raise any necessary additional capital on reasonable terms to execute Knightscope, Inc.’s business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) Knightscope, Inc.’s ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) Knightscope, Inc.’s ability to enter into contractual arrangements with additional Pharmacies; (e) the accuracy of budgeted costs and expenditures; (f) Knightscope, Inc.’s ability to attract and retain skilled personnel; (g) political and regulatory stability; (h) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (i) changes in applicable legislation; (j) stability in financial and capital markets; and (k) expectations regarding the level of disruption to as a result of CV-19. Such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of Knightscope, Inc. to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a) Knightscope, Inc.’s operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; (b) public health crises such as CV-19 may adversely impact Knightscope, Inc.’s business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing Knightscope, Inc.’s business operations (e) Knightscope, Inc. may be unable to implement its growth strategy; and (f) increased competition.
Except as required by law, Knightscope, Inc. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither does Knightscope, Inc. nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this document. Neither Knightscope, Inc. nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this document by you or any of your representatives or for omissions from the information in this document.
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