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Smart Cities, Deep Learning and Video Analytics-

In the realm of smart cities, deep learning is ushering the advancement of smarter centers that reduces the burden of centralized data.  Smart cities are all about leveraging IoT-based infrastructure that aim to improve the quality of life by optimizing resource utilization.

This inevitably needs a conduit of different advanced sensors, communication technology and advanced analytics to collect, process, analyze and implement the goals of these cities. Against that background, the emergence of video analytics can be a game changer.

Let’s discuss some trends.

GPU growth: The transformational growth of GPUs from being a limited niche to improve gaming experience to being the go-to-standard for big things like machine learning and AI is nothing short of phenomenal.

These trends have compelled companies to think architecturally about implementing technologies in futuristic concepts like AI cities. While discussing video sensors & analytics, it is important to know that video streams must adapt dynamically to different use cases, which necessitates a data-driven approach to smart cities.

 

 

Growth of security cameras: There are more than 500 million security cameras deployed globally, and that figure is on course to touch 1 billion by 2020.  Considering how simple and efficient they are to deploy, this number could be way beyond 1 billion.

Cloud to remain as the go-to computation model: While data that has a physical presence in premises can never be totally redundant, it’s viscerally limited. Migrating data to the cloud will facilitate the sharing of video content with anyone, anytime.

Implementing video analytics a reality

The first step towards video analytics is training the AI to ‘learn’ what things like cars, trucks, builds and people are.  With some human interjection, AI can swiftly adopt a self-learning model that learns and assimilate things at an exponential rate. It is important to add here like Cloud players like Microsoft Azure and Amazon Web Services offer GPU in a service-led model to impart deep learning training.

Once that happens, AI can then sift through large amounts of voice data to infer things accurately and quickly. Unlike humans who get fatigued beyond a point and miss out on details like people, number plates, or car colors, AI literally sees and identifies everything.

Unlike a local parking space or a building where only a dozens of cameras need to be installed and analyzed city-wide optimization needs the influx and analysis of tens of thousands of video feeds, for which, cloud is the right platform.

Business use cases

While it can be tempting to dismiss video analytics as a fantastical concept that can potentially be used to build smarter and better cities, their resonance for business use is apparent.

For instance, a retail shop can easily integrate video sensors with deep learning model to decipher its customers’ demographics. Each store can set inventory on the basis of how many men or women enter the shop, any specific patterns on specific days, holidays, etc.

Furthermore, building lobbies can make use of facial recognition to direct the ‘right’ people to appropriate sections and help them reach their destination faster as opposed to being stopped by humans who click pictures and then accesses different systems to ensure they’re sending the right people in.

The possibilities are limitless and the scope is endless. The confluence of video sensors and deep learning are set to foster breakthroughs that could make smart city a real and present reality.

Smart Cities, Deep Learning and Video Analytics- (1)

For most of us, opening a savings account is an absolute no-brainer for the sheer simplicity and utility that it entails. After all, savings account is that type of account which serves as a contingency fund to meet unforeseen expenses like car repairs, medical bills or even educational purposes.

 

With the proliferation of digitalization at a burgeoning pace, the process of creating a savings account has eased up considerably. Appearance can be deceptive and something as seemingly normal as a savings account may have myriad flavors in the face of the evolving dynamics of financial landscape- as opposed to the same old vanilla.

 

In India, there are over 200 types of savings accounts that offer distinct offerings to suit the nuanced requirements of the customers. Different banks offer something extra or different that its counterpart does not. By the same token, there is a set of features that finds convergence in most banks’ offerings, regardless of their type and scope.

 

Like always, it pays to be crystal clear on the purpose of opening such types of accounts to avail the banking facilities based on your preference and needs. Here are six such considerations:

 

Number of options

Does the bank you’re planning to open a savings accounts offer facilities like Cheque book, Debit card, Net Banking, Balance Sweeping, Credit card linked with Phone Banking? In the wake of the much-talked about demonetization drive, these facilities deserve your careful consideration.

It wouldn’t be a bad idea to maintain a higher minimum deposit if that means provides you gain access to most or all of these features. Remember, opening a savings account is an important decision with significant implications on your finances, so take your time exploring different options.

 

Minimum Deposit

Now, there are some banks that need you to put in a minimum deposit before they let you open and activate your account. This amount can be as much as Rs 450 per month. They usually do this to recover the costs incurred by setting up a new account and its subsequent maintenance, which can be a tedious process in more ways than one.

While most banks do offer BSBDA (Basic Savings Bank Deposit Account) with zero balance, they offer very limited banking services with strict restrictions on the amount and frequency of deposits, withdrawals, deposits, ATM transactions and amount transfers.

 

Monthly Deposits

This is a must-have feature when it comes to opening multiple accounts. Here, you need to ensure that there is a minimum monthly balance, or continue to deposit a fixed amount if you want to reap the benefits of a reasonably high interest rate.

To that end, it would be useful to determine exactly how much you’re able to save each month before looking for a bank that accommodates bonus rates for meeting this criterion. You may also want to consider setting up an automatic deposit in the account.

 

Service Quality

Today, you can avail most banking services offered at a physical branch on your fingertips using online banking and mobile apps, which obviates your need to make repeat visits. That said, there are services like locker and cash transactions for which, you may still need to pay the occasional visit.

Thus, closely observe the efficacy and quality of these services before setting up a savings account because any lapse now can be a nuisance later.  In this parlance, private banks typically surpass their public sector counterparts.

 

Interest Rates

As you proceed further in your research, you’ll need to wrap your brains around a number of banks waiting to lure you with their offerings. For example, Kotak Mahindra Bank and Yes Bank offer an interest rate of 6% (for balances of over Rs 1 lakh) while most others offer between 4-5%. As per the section 80 TTA of the IT Act, it is possible to get tax deductions of up to Rs 10,000 for the interest accrued from all bank accounts.

Many banks also offer a higher promotional interest rate to attract new account holders; this ‘higher’ rate is valid only for a short period of time before going back to the normal rates. Ideally, you would want to consider other factors other than a temporary higher interest rate which serves little purpose.

 

ATMs

A number of accounts lack facilities that let you withdraw money from any ATM. Thus, if you need to access your savings account, you’ll have to transfer the amount into your transaction account (linked with the ATM) to take it out. If you’re one of those who withdraw money on a regular basis, zero in on an account that accommodates decent ATM facilities with low transaction fees on using the ATM facilities of other banks.

 

Account-related Charges

While there are many savings accounts that don’t impose any charges, others do entail numerous fees, such as:

  • Branch deposit fee
  • OTC transaction fees
  • ATM withdrawal fee
  • Internet banking fee
  • Cash deposit fee
  • Cheque book and Debit card charges
  • Non-maintenance of minimum monthly balance
  • Charges for cheque bounces
  • Charges for duplicate pass books

These charges may vary across different types of banks and accounts. Before choosing a savings account, take a close look at all the possible applicable charges to make the most of your savings account. Public sector banks usually have lower service/transaction charges.

 

Summing it up

An ideal savings bank account is like a well prepared dish that should have the ideal mix of the right ingredients at the right time. Also, do note that your banking journey does not end by merely opening a savings account; it begins from there! The idea is to develop and nurture a healthy relationship with the bank so that they can serve you better in future – be it for further investments, loans and savings, among others.

 

 

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