I mage recognition technology (IMR) is rapidly growing, with the market anticipated to hit $38.9 billion by 2021. From enhancing the customer experience to streamlining operational procedures, this type of technology has many uses and benefits from a business perspective — and we’re here to explore how it works and why it could improve your business…
Defining image recognition technology
Image recognition technology can retrieve, process, analyse, and interpret imagery and high-dimensional data. Relating to anything from uploading a photo of friends to Facebook that automatically tags each member to taking a fingerprint scan and verifying an identity, IMR is extremely useful for many reasons.
Four-fifths of online content is visual, which not only makes IMR more essential as a technology, but also helps it develop and grow regarding its ability to mimic human vision and understanding.
Its effect on consumer engagement and business processes
Almost all brands have a digital presence, which makes IMR influential and popular across various industries. What are the main benefits of this technology? Firstly, it can offer real-time insights into your customers’ behaviour — as well as the customers of your competitors. Visual analytics let you keep watch of the consumer behaviour of your business rivals, enabling you to address their wants and queries in your marketing campaigns and entice them to choose your brand.
It’s of course, important to monitor your consumers’ interest. However, this isn’t always simple. With image recognition software, you can locate similar content to what your brand releases on social media and capture social mentions of your business. This helps you better monitor competition, as well as make shrewder marketing decisions. If you’re more aware of new trends and what’s going in in your industry, you can react accordingly.
Global gross app revenue will hit $102 billion by 2020 — are you in on the app trend? IMR technology within apps assist brands in enhancing engagement levels with users, letting them go beyond the limits of online and offline and making the app more captivating. Consequently, your promotional offers might have a greater effect than previously, resulting in greater return-on-investment.
In the motoring industry, self-driving vehicles are an emerging trend — helped by image recognition. For example, detecting hazards and making decisions are things the vehicle must do to avoid collisions and accidents. IMR in self-drive cars helps them notice dangers like a human motorist, giving them time to slow down, brake or turn.
Self-driving cars becoming the norm is still a way off. But, IMR will almost certainly play a role in the future of the industry — especially for car brands that start harnessing the technology today.
How does IMR affect fashion? One example is using the technology via a mobile device to scan the image of a product found offline. A user could then upload it and have it direct them to its product page or relevant online marketing content for purchasing. also, customers can upload pictures of fashion garments they like to locate similar products — enhancing the shopping experience.
Brands in fashion can also use IMR to pick up on trends faster — as this is a sector that evolves rapidly, this could be priceless.
Experts in health are also taking advantage of IMR. There are many medical images that need verifying, and IMR is hugely useful at processing these. An effect is that doctors can diagnose conditions quicker and more accurately, easing the pressure on the professional and lessening the stress of waiting for the patient.
Image recognition technology is going to influence businesses and consumers across the world. How can it help your brand? Check out how the latest technology can enhance your marketing clout at Precision Printing today. Browse our services for a range of printing services — such as offset litho — and read our case studies for inspiration.