The popularity of ChatGPT has taken off, reaching 100 million users faster than social media giants Instagram and TikTok. Although the viral chatbot is clearly advanced, it still has its limitations including lack of information after the year 2021 and filters that restrict biases, offensive answers and sensitive topics. Naturally, the Reddit community took issue with the filters and found a way to jailbreak ChatGPT and bypass the safeguards with a prompt called DAN aka Do Anything Now. Despite the recent security breach, multinational tech giant Microsoft (NASDAQ:MSFT) has teamed up with OpenAI and is investing $10 billion to launch a new AI-powered version of Bing, a next-generation OpenAI chatbot “more powerful than ChatGPT and customized specifically for search.” Alphabet (NASDAQ:GOOGL) also presented its AI assistant Bard at the recent Live From Paris event, which is currently still in testing. Of course, the capabilities of artificial intelligence are not just geared at improving online experiences. Silicon Valley-based advanced security technology company Knightscope (NASDAQ:KSCP) is fighting crime with AI-powered autonomous security robots, while Lemonade (NYSE:LMND) and TELUS Corporation (NYSE:TU) are using AI to create better user experiences for customers.
Knightscope (NASDAQ:KSCP) creates Autonomous Security Robots (ASRs) that deter, detect, and report using four cutting-edge technologies: autonomous driving, robotics, artificial intelligence (AI), and electric vehicles.
Since its inception, Knightscope has raised over $120 million, collected 35,000+ investors by the time it listed on the NASDAQ in January 2022, developed its own proprietary technology from the ground up (Made in USA), and rolled out for over 2 million hours of field operation to date.
The company also has a notable acquisition under its belt, particularly CASE Emergency Systems, which has contributed to its top-line revenue growth and provided a client roster that includes New York Police Department (NYPD), New York City Fire Department (FDNY), San Luis Obispo Council of Governments (SLOCOG), and the Orange County Transportation Authority (OCTA).
On February 24, Knightscope announced that GPI Defence will be joining its reseller program as a Knightscope Authorized Partner (KAP). The Houston-based custom security services provider will integrate Knightscope’s ASRs into its consulting and security offerings, which serve customers in three countries and 48 US states. GPI Defense also signed a contract for 2 K5s and a pre-order for 2 K1-Hemisphere Autonomous Security Robots (ASRs).
“Knightscope and GPI Defense are aligned to protect the places people live, work, study and visit,” said Knighscope chairman and CEO William Santana Li. “There are already many Knightscope security robots in the Great State of Texas, and we plan to significantly increase our footprint with the help of GPI Defense.”
Knightscope is carrying out its plan to profitability through increased engagement with resellers and continued growth through new sales contracts, as stated in its January announcement.
In addition to the previously mentioned contracts, the company also just signed a pre-order sales agreement with a large healthcare group in the Midwest. Once commercially available, this client will begin its fleet of Knightscope security solutions with one K1-Hemisphere, which will be installed in a passageway from the garage area leading into the main entrance. A southern California university also signed a full-service agreement for its Knightscope K1 Blue Light Tower-based emergency communications system.
Since the beginning of 2023, Knightscope has already closed over 30 new sales/contracts and renewed seven ASR subscription contracts.
Companies Use AI to Deliver Better Customer Experience
In February, Microsoft (NASDAQ:MSFT) released a new version of Bing that is powered by a next-generation OpenAI large language model which the company says is more powerful than ChatGPT and tailored specifically for search. It incorporates key insights and advancements from ChatGPT and GPT-3.5, and it is faster, more accurate, and more capable. The new Bing, which is in the beta phase, is meant to give better search results, more complete answers, a new way to chat. Microsoft thinks of these tools as a kind of AI copilot for the web. They combined search, browsing, and chat into a single unified experience that you can use from anywhere on the web, delivering better search, complete answers, a new chat experience, a creative spark, and a new Microsoft Edge experience.
Alphabet (NASDAQ:GOOGL) recently reported financial results for the fiscal quarter and year ended December 31, 2022. Sundar Pichai, CEO of Alphabet and Google, said that their long-term investments in deep computer science make them very well-positioned as AI approaches an inflection point. Q4 consolidated revenues were $76 billion, up 1% year over year, or up 7% in constant currency, and $283 billion for the full year 2022, up 10%, or up 14% in constant currency. In September, Google LLC acquired Mandiant, Inc., a recognized pioneer in dynamic cyber protection, threat intelligence, and incident response services. Mandiant will become a Google Cloud partner while keeping the Mandiant name. With this acquisition, Google Cloud and Mandiant will provide customers with an end-to-end security operations suite with even more capabilities to help them across both cloud and on-premise settings.
Lemonade (NYSE:LMND), an insurance company that uses AI algorithms to process insurance claims quickly and efficiently, has partnered with BNP Paribas Cardif to provide renters insurance in order to match the expectations of customers, particularly younger generations. This B2C offer provides an easy and fluid customer experience by allowing 100% online policy subscription and claims submission on any device. This collaboration falls within the framework of BNP Paribas Cardif’s strategic plan, which aims to harness technology to improve the customer experience while remaining true to the company’s basic objective of making insurance more accessible.
TELUS Corporation (TSX:T) (NYSE:TU) and TELUS International have completed the previously announced acquisition of WillowTree. The premier, full-service digital product supplier, now rebranded as WillowTree, a TELUS International Company, adds important front-end design and build expertise to TELUS International’s extensive range of end-to-end capabilities throughout the whole customer experience value chain. TELUS also recently announced a collaboration with Amii to uncover new, cutting-edge applications for AI and machine learning algorithms and techniques to help manage increasingly complex next-generation networks.
In January, Knightscope announced its planned path to profitability and is committed to working to achieve profitability within 24 months.
Featured Image Depositphotos @ sdecoret
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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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