The 3 trends of 2020 – aggregation, automation, and augmentation were replaced by 4 mega trends in 2021 at the annual MIPS 2021. Formative AI, Distributed Cloud, Composite Architecture, and Digital Ethics were revealed as the 4 megatrends in the video industry by Milestone Systems demonstrating how quickly emerging technologies are forming new trends.
Close to 4000 participants from technology partners, end customers and media attended the first virtual MIPS conference on March 1st and 2nd. The virtual event brought together this rich community of video, security, and technology solution partners from EMEA, APAC and Americas to discuss the advancing innovation and shaping the new next.
“Shaping the New Next is an invitation to join us so we can make a positive difference together. There is a momentum in society right now that is unique to our industry, and we will be looking at this opportunity from both a business, a people, and a technology perspective. Because these are the drivers for the continuous success for the industry,” said VP at Milestone in EMEA, Malou Toft in her keynote address.
Mega Trends of 2021
Formative AI refers to a set of emerging AI enabled technologies that can dynamically change to respond to situational variances. These technologies enable application Developers and UX designers to create solutions using AI enabled tools.
Distributed cloud computing is the first cloud model that incorporates physical location of cloud-delivered services as part of its definition. It is the next generation of cloud computing which retains the advantages of cloud computing, while extending the range and use cases for cloud.
Composite Architecture enables enterprises where Integrations works seamlessly and can change shiftily as requirements change, without having to rebuild or reinstall the solution. A composite architecture enables an open data fabric to serve a variety of core and add-on solutions.
One of the trends within digital ethics is Responsible AI which focuses on ensuring ethical, transparent, and accountable use of AI technologies, in a manner consistent with user expectations, organizational values and societal laws and norms. Responsible AI can guard against the use of biased data or algorithms, ensure that automated decisions are justified and explainable.
Future Regional Plans
Milestone also revealed plans to focus on Cloud Managed video management which will leverage Distributed Cloud and Composite Architecture and drive up the agility of an organization using XProtect, Milestone’s video management software, to cope with the new next in the Middle East and beyond.
Milestone predicts a successful 2021 in EMEA for multiple reasons including the massive amount of technology at hand that has accelerated the development of new innovative solutions to help businesses and societies navigate in a post-pandemic world. They see a clear mind shift in society, and a new market perception, fueling the relevance and readiness for more intelligent sensors and video technology.
In the Middle East for example, healthcare is an industry that has significantly benefited from adapting video technology during the pandemic. With medical tourism being part of the region’s general economic drive, healthcare will continue to be an important vertical in the region along with retail, leisure, and hospitality.
Smart Cities is another fast-growing area, where innovative technologies can improve the quality of living, help reduce the environmental impact of urbanization and make everyday services run more smoothly. In the Middle East, these initiatives are predominantly driven by the governments, which means this could be the single largest vertical in the future.
The MIPS event included products and programs from leading brands including Axis Communications, Dell, Intel, and Lenel S2. MIPS 2021 concluded with the hope that this year will stand for new beginnings, unbelievable comebacks, and a world getting back in sync.