The Arabian Gulf region is expected to play a lead role in enabling Milestone Systems to more than double its global revenue in the next 5 years as the region quickly embraces and deploys smart video technology on an immense scale.
In an exclusive interview with MENews247 at the Milestone Partner Summit (MIPS 2022) held in Dubai from October 12-13, 2022, Thomas Jensen, CEO, Milestone Systems said he was optimistic the Gulf region would prove to be “a very strong catalyst” of substantially improving the Denmark-headquartered company’s bottom-line right up to 2026 as its a 5-year strategy.
A global leader in data-driven video technology software – in and beyond security – Milestone Systems empowers its customers to get more from video technology through insights into video surveillance and data. Based on an open platform, the company’s video management software conveniently integrates with the video industry’s choices in cameras and best-in-class business solutions.
Explaining where he sees growth potential for Milestone Systems emanating from, Jensen said: “Beyond the traditional security focus of video technology we see huge opportunities to utilise advanced video technology to help hospitals deal with nurses’ staffing crises, manage traffic flows in rush-hours situations, or allow first responders to quickly access road accident sites. By providing these solutions we can add value to our customers’ operations.”
We have 2 x MIPS every year: One for EMEA/APAC in Dubai and one for the Americas region in the US, said Jensen.
He noted that MIPS 2022 was a “good opportunity to meet customers and partners in-person for the first time in two years, while also being able to share with the attendees the company’s strategic direction and discuss new partnerships while also exploring new opportunities”.
Emphasising that Milestone Systems creates video solutions that help people interpret and understand what they are looking at – in security and beyond – Jensen stated he is “very fascinated with the adoption of modern technology” in the broader Middle East region and the Gulf states in particular.
He added that for Milestone Systems the region is “both an inspiration to invest in and go all in, and also a challenge to the company; to deliver what its customers need, that of being able to use video data tangibly, to improve their businesses and citizens’ lives”.
The Gulf region is all about technological advancements, with a clear focus on smart cities’ infrastructure, noted Jensen, and pointing out that Milestone Systems can support the region in this regard by “optimising traffic management systems, or healthcare and emergency services, for example”.
According to Jensen, Milestone Systems possesses a very good relationship with its customers in the region, and appreciates these customers’ ability “to challenge the company to develop even better smart video technology solutions”.
With the global demand and the use of video technology across various industries and sectors growing exponentially all the time, Jensen averred that a key challenge confronting his own industry is how to successfully drive adoption to the cloud; “because video and cloud has traditionally been a difficult area to work in because video data consumes a lot of bandwidth and a lot of space”. To address the challenge head-on, Milestone Systems launched its first cloud-based video platform at MIPS 2022, and with the hope that regional customers will find need of it.
With MIPS 2022 themed ‘Building the New Next’ and running parallel to GITEX Global 2022 – the world’s largest digital technology show – and where the buzzwords were AI, digital transformation, smart cities and digital innovation, Jensen said Milestone Systems is “right in the centre of these buzzwords by virtue of digitising and utilising video technology to drive more value for customers, including allowing governments to optimise city infrastructure, protect buildings and offices, or otherwise keep citizens and residents safe from a law and order perspective”.
Milestone Systems’ customers in the region can rely on the company’s proprietary smart video technology to find analytical information that they can use, by either revisiting and reviewing past events, or seeing events in real-time. Add to this, and with the advantages of AI and machine learning customers will also soon get to see events before they happen, weather forecasting for example, enabling them to take preemptive action, such as an alert system, if so required.
Apart from “investing heavily in R&D”, innovation at Milestone Systems is driven “first and foremost by the criteria of obtaining tangible insights from video data by using AI and machine learning”, said Jensen, adding the next key parameter is “to train our technology and systems, to use the gathered insights so that our customers can drive forward their own projects”.
On account of video technology involving mega amounts of data that cybercriminals invariably wish to and constantly target, Jensen noted that “cybersecurity has always been and continues to be high on our agenda, especially because our customers’ video data is not only very sensitive to them, but also to citizens and residents themselves”.
On this front, Jensen concluded that Milestone Systems “focuses on always having the highest security technology and security standards in the industry and being at the forefront of security”.