Shares in ASX-listed BrainChip went on a tear this week when the company announced a deal to provide its machine learning security technology to a large casino in Las Vegas.
The shares more than doubled in one day and are currently trading at $0.242.
BrainChip has developed what it calls SNAP (Spiking Neuron Adaptive Processor), a technology that learns autonomously and unsupervised, evolves and associates information just like the human brain.
What sent the company’s share price higher was the roll out of BrainChip’s technology — which can automatically detect card dealer errors by monitoring video streams from standard surveillance cameras — across baccarat tables at a large, but unnamed, casino.
The technology, called Game Outcome, can recognise the cards that are played, winning hands, the rules of the game and the payout.
Watch the technology at work recognising cards at a baccarat game in this video HERE
“Security is one of the highest priorities for casino operators and we have been able to show that our system is highly effective in protecting the integrity of table games,” says BrainChip founder Peter van der Made.
“We believe that there are many more opportunities for our technology to provide real solutions to complex issues by harnessing the power of BrainChip’s autonomous learning capabilities.”
It is estimated that Game Outcome can save up to $35 million a year per casino. There are more than 2,600 casinos in the world.
Under the terms of the latest casino agreement, BrainChip is being paid a monthly fee for each table that Game Outcome is installed on.
The market for casino management systems, which includes security and surveillance, is expected to grow at a 15.4% a year from 2013 to 2018 to hit $US4.53 billion, according to market research consultancy MarketsandMarkets.
But the technology also has applications for smartphones, robots, internet of things, drones, mapping and driverless vehicles.
Here’s what he market looks like:
Foster Stockbroking, in a research report, says that BainChip’s SNAP (Spiking Neuron Adaptive Processor) consists of digital circuits that simulate the function of biological neural cells.
“It is able to process hundred million input events per second, which it evaluates autonomously enabling it to learn and classify patterns by itself,” says Foster Stockbroking.
“Similar to the human brain, this Neural Computing technology enables incoming information to be processed in parallel … all neurons working simultaneously and associatively.
“In contrast, today’s mainstream computer chips operate sequentially .. the chip has to perform and complete a certain calculation according to specific software instructions before it can move onto the next calculation.”
This means the SNAP technology is many times faster than supercomputers and is more energy efficient, making it highly suited to mobile battery operated devices.
Here’s a demonstration of how BrainChip Works:
Business Insider Emails & Alerts
Site highlights each day to your inbox.