Waycare raises $7.25 million to improve city traffic using AI and big data

#News(Startup) [ via IoTGroup ]

Auto extracted Text……

Big data and machine learning have emerged as fundamental tools for companies and cities looking to unlock insights into people and places, enabled by the myriad connected devices that now permeate society.
The likes of PredictHQ leverage data from global events to help companies like Uber and airlines forecast demand, while fellow San Francisco startup Streetlight Data aggregates mobile app data to help cities measure the flow of traffic.
In a similar vein, Israeli startup Waycare has been setting out to help city planners make better-informed traffic-management decisions.
It does so by tapping historical and real-time data inputs from connected cars, telematics, roadside cameras, fleet management platforms, public transit services, construction projects, and even weather forecasts to build a more complete picture of what’s happening on a city’s thoroughfares.
When the data is combined and machine intelligence is applied, it yields a deeper insight into what’s happening at street level across a city.
AI’s role here essentially involves training Waycare’s algorithms to parse historical data around road behavior and then apply that understanding to real-time traffic data to identify any anomalies.
From the city’s perspective, Waycare’s interface shows a live map of incidents in a specific area, with connected cameras enabling the user to switch to a live view of a scene if a crash or other event is detected.
All this data can also be used to inform key decisions at the city level.
“Waycare is a prime example of how AI can be deployed in the public sector to better leverage data and existing infrastructure to improve outcomes — in this case reducing traffic, injuries, and deaths on the roads.”
The duo entered a data-sharing pact last year, giving Waycare access to Waze’s crowdsourced navigation data while allowing Waze to access data from Waycare, such as road hazards, disruptions, or other unforeseen incidents

Read More..
AutoTextExtraction by Working BoT using SmartNews 1.0299999999 Build 26 Aug 2019