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Past, Present and Future of Computer Vision

Computer vision may be defined as the technology for identifying, interpreting and implementing artificial systems from obtaining data images or multi-dimensional information or in other simpler words, it is the process where a machine replicates or strives to unravel the same issues that our brain tries to solve with the information given by our eyes. To have a clearer understanding of computer vision technology, click on the link below:

computer vision technology

As you have come to the conclusion yourself, it is a very versatile and functional piece of technology and its applications in our daily life are limitless and while its stands there is a high possibility that you have used products or services that have incorporated CV already without you even realizing it.

PastThe roots of computer vision can be traced to the early 60s where Lawrence Roberts published “Machine Perception Of Three-Dimensional Solids” where he discussed extracting 3D information about solid objects from 2D photographs of line drawings. This later came to be the founding principle of CV technology as we know it and while he considers himself the founder of the internet due to the fact that he was instrumental in designing the ARPANET which is the foundation of the internet of today, we can definitely give him the title of the father of computer vision.

People during that time had already envisioned robots as intelligent as human beings and it being a reality in the coming 25 years or so but when they started dwelling a bit into this road, they found out that constructing a machine to mimic the human visual system alone was not going to be an easy task by any means.

Present Even though the concept existed all these decades ago it was only very recently, with the introduction of more potential computation and digital information storage prowess that the technology launched off and can finally be utilized to its fullest potential. The term ‘computer vision’ was barely mentioned in any news before 2015, but in the past 3 years alone saw increase in news coverage on this topic by nearly 500%. It didn’t take long for the big shot names to understand the benefits of CV and investing heavily. If we have to look at the numbers then

2015 - venture capital funding was 186 million U.S Dollars

2016 - venture capital funding was 555 million U.S Dollars

2017 - venture capital funding was1.7 billion U.S Dollars

In 2017 a Chinese start-up called Megvii alone invested 460 million U.S dollars for a facial recognition technology.

Its not just the reputed names that have made breakthrough in this field. iBoson innovations is a firm within India that have developed their own CV technology and incorporated the same in their augmented reality application – UniteAR. The app allows the

Future

While we are on the topic of investment and revenue, studies reveal that the market for CV would grow up to 50 billion U.S dollars by the end of the year 2022 and its applications can be felt in all sectors of every industry from automobile, real estate, retail, social media, banking, military, education and the list is fairly long but any sector that you can think of would only benefit vastly with the successful incorporation of computer vision into their workings and proceedings. Computer Vision would also give rise to new forms of personal technology and new types of immersive media not to mention many of the sci-fi gadgets and gizmos we saw as children would soon come to life.

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