Summary
Over €2.4tn in revenues are lost annually due to poor data quality with 85% of all business data either being obsolete or of unknown value. 80% of all data owned by businesses and institutions is in the form of images or videos which are notoriously more difficult to analyze than simple text. All data needs to be updated within 1-24 months to remain useful but due to the high processing costs, businesses are unable to keep their data relevant. Current solutions to this problem are either offering (1) costly cameras and require the customer to process data manually or (2) a full-service which does all processing and data collection at a high service cost. We have realized that the key to providing a sustainable, low-cost and high-quality solution requires automation of the labour-intensive processing work. With LEAN MOBILE MAPPING, we provide Artificial Intelligence powered object recognition in combination with a small and high-performance camera system that can be placed on any vehicle, boat, train or other moving platform to perform location-based asset management. We developed our software and hardware prototype in over 3 years of close work with customers and by the end of 2017, we have completed 6 extensive pilot studies and received multiple LOI. LEAN MOBILE MAPPING will penetrate the €18.8bn mobile mapping market in the EU with €6.6m in accumulated profits in the first 3 years, an ROI of 6.35 and the creation of 8 jobs. We will not only bring Europe to the forefront of the fast growing mobile making market but can also reduce gasoline consumptions in agriculture by 3.5bn litres per year (saving €16.9bn and reducing emissions), enable cities to have barrier free access for the disabled, facilitate renewable energy installations, reduce European outsourcing to low economic areas and address social challenges through our extensive work in undeveloped countries such as Kenya.
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| Web resources: | https://cordis.europa.eu/project/id/836317 |
| Start date: | 01-12-2018 |
| End date: | 31-03-2019 |
| Total budget - Public funding: | 71 429,00 Euro - 50 000,00 Euro |
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Original description
Over €2.4tn in revenues are lost annually due to poor data quality with 85% of all business data either being obsolete or of unknown value. 80% of all data owned by businesses and institutions is in the form of images or videos which are notoriously more difficult to analyze than simple text. All data needs to be updated within 1-24 months to remain useful but due to the high processing costs, businesses are unable to keep their data relevant. Current solutions to this problem are either offering (1) costly cameras and require the customer to process data manually or (2) a full-service which does all processing and data collection at a high service cost. We have realized that the key to providing a sustainable, low-cost and high-quality solution requires automation of the labour-intensive processing work. With LEAN MOBILE MAPPING, we provide Artificial Intelligence powered object recognition in combination with a small and high-performance camera system that can be placed on any vehicle, boat, train or other moving platform to perform location-based asset management. We developed our software and hardware prototype in over 3 years of close work with customers and by the end of 2017, we have completed 6 extensive pilot studies and received multiple LOI. LEAN MOBILE MAPPING will penetrate the €18.8bn mobile mapping market in the EU with €6.6m in accumulated profits in the first 3 years, an ROI of 6.35 and the creation of 8 jobs. We will not only bring Europe to the forefront of the fast growing mobile making market but can also reduce gasoline consumptions in agriculture by 3.5bn litres per year (saving €16.9bn and reducing emissions), enable cities to have barrier free access for the disabled, facilitate renewable energy installations, reduce European outsourcing to low economic areas and address social challenges through our extensive work in undeveloped countries such as Kenya.Status
CLOSEDCall topic
EIC-SMEInst-2018-2020Update Date
27-10-2022
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