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Using Robotics and Security Cameras to Combat NYC’s Shoplifting Crisis

New York City is witnessing a troubling 45% surge in shoplifting cases this year. High-profile victims include drugstore giant Rite Aid, which lost a $5 million in revenue, highlighting a nationwide problem that cost retailers a staggering $100 billion in 2021. To counter this, the NYPD is turning to robotic solutions to bolster the capabilities of the CCTV cameras most retailers already have installed. Of course, advanced security cameras aren’t the only technology being utilized in an effort to get New York City back on its feet post-CV19. Knightscope (NASDAQ:KSCP) is also gaining traction in NYC with the launch of its Autonomous Security Robots (ASRs). As the AI industry continues to grow, companies like Alphabet (NASDAQ:GOOGL), UiPath (NYSE:PATH), Leidos (NYSE:LDOS), and Palantir Technologies Inc. (NYSE:PLTR) are utilizing AI and robotics to improve security and improve human life.

Knightscope (NASDAQ:KSCP), a leading provider of ASRs and blue light emergency communication systems, is actively implementing state-of-the-art security solutions in healthcare facilities, educational institutions, office buildings, municipal governments, and corporate campuses nationwide.

On September 22, Knightscope announced the launch of its Knightscope K5 security robot service in collaboration with the City of New York and the New York Police Department (NYPD). This initiative received strong support from the Metropolitan Transportation Authority (MTA).

The deployment of these autonomous robots will commence with an initial two-week phase focused on training, configuration, and setup protocols to ensure the seamless navigation of the robots. Following this preparatory period, the autonomous robots will embark on their patrol duties, actively serving the subway system during the hours of 12:00 am to 6:00 am.

“Today we are launching a pilot program to test the Knightscope K5 security robot,” said Mayor Eric Adams, City of New York. “The NYPD must be on the forefront of technology and be 2 steps ahead of those utilizing technology to hurt New Yorkers.”

This strategic partnership aims to reinforce security measures within the subway system, providing commuters with enhanced safety and peace of mind during late-night hours. 

Law enforcement agencies, including those in Los Angeles County, have recognized the effectiveness of Knightscope’s robots in crime reduction. Utilizing these Autonomous Security Robots (ASRs) presents a strategic and economical solution amidst the nationwide decrease in police personnel.

“Today we are launching a pilot program to test the Knightscope K5 security robot,” said Mayor Eric Adams, City of New York. “The NYPD must be on the forefront of technology and be 2 steps ahead of those utilizing technology to hurt New Yorkers.”

For more information about Knightscope, Inc. (NASDAQ:KSCP), click here.

Tech Companies Making a Move for AI and Robotics

Alphabet’s (NASDAQ:GOOGL) Google unveiled the Robotics Transformer 2 (RT-2), an advanced AI model designed to train robots for various tasks, including mundane ones like garbage disposal. RT-2 is a vision-language-action model that harnesses internet data and images to instruct robots. While humans find trash disposal routine, it involves several steps for robots, including recognizing trash items and understanding how to collect and discard them. Instead of explicit programming, RT-2 relies on web-derived knowledge to enable robots to grasp and execute tasks without prior training. Google noted that the new model significantly enhanced robot performance in unfamiliar scenarios compared to its predecessor. Moreover, the updated version can engage in basic reasoning to respond to user commands. Although Google currently has no immediate plans for widespread robot deployment using this technology, it envisions potential future roles in settings such as warehouses or as home assistants.

Global software company UiPath (NYSE:PATH) has continued to solidify its role in the robotics industry. On September 6, the company reported its fiscal second quarter 2024 financial results, revealing revenue of $287.3 million, a 19% increase year-over-year. Over the last three months, UiPath has achieved several milestones including unveiling AI-powered automation tools and developer experiences to streamline knowledge work. The firm garnered notable industry accolades for its platform features and fortified partnerships, most notably with Peraton, to bolster cloud-based automation in key U.S. sectors.

Leidos (NYSE:LDOS), a FORTUNE 500 leader in science and technology, has extended its contract with Nauticus Robotics by investing an additional $2.1 million. Nauticus, known for specializing in AI-driven autonomous robots for ocean industries, has now received a total of $16.6 million from Leidos since 2022. This partnership’s advanced technology, embodied by Aquanaut—an underwater robot designed for extended and challenging missions—is poised to unlock significant future opportunities. Moreover, the additional investment will further refine toolKITT, Nauticus’ unique software enhancing the autonomous capabilities of subsea vehicles.

Microsoft (NASDAQ:MSFT) researchers have introduced an experimental framework that enables the control of robots and drones using ChatGPT, an AI language model. ChatGPT generates control code for robots based on natural language commands, which is then adjusted by a human operator to ensure successful task completion. Although ChatGPT accelerates robot control programming, it’s not autonomous and acts as a tool to augment human capacity, according to the researchers. While most feedback to ChatGPT comes from humans in text form, the model has also been tested with visual data input. This development represents an early step in applying large language models to robotic control, potentially making robotics more accessible to a broader audience in the future.

Knightscope (NASDAQ:KSCP) has reached a significant milestone with its 100th Robot Roadshow landing. This innovative Roadshow offers communities, potential clients, investors, and media members an immersive experience of Knightscope‘s ASRs and emergency communication systems. 

For additional information regarding Knightscope (NASDAQ:KSCP), please follow this link.

Featured Image @ Freepik


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6) This document contains forward-looking information and forward-looking statements, within the meaning of applicable Canadian securities legislation, (collectively, “forward-looking statements”), which reflect management’s expectations regarding Knightscope, Inc.’s future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. Wherever possible, words such as “predicts”, “projects”, “targets”, “plans”, “expects”, “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “anticipate” or “does not anticipate”, “believe”, “intend” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements. These forward-looking statements include, among other things, statements relating to: (a) revenue generating potential with respect to Knightscope, Inc.’s industry; (b) market opportunity; (c) Knightscope, Inc.’s business plans and strategies; (d) services that Knightscope, Inc. intends to offer; (e) Knightscope, Inc.’s milestone projections and targets; (f) Knightscope, Inc.’s expectations regarding receipt of approval for regulatory applications; (g) Knightscope, Inc.’s intentions to expand into other jurisdictions including the timeline expectations relating to those expansion plans; and (h) Knightscope, Inc.’s expectations with regarding its ability to deliver shareholder value. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about: (a) the ability to raise any necessary additional capital on reasonable terms to execute Knightscope, Inc.’s business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) Knightscope, Inc.’s ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) Knightscope, Inc.’s ability to enter into contractual arrangements with additional Pharmacies; (e) the accuracy of budgeted costs and expenditures; (f) Knightscope, Inc.’s ability to attract and retain skilled personnel; (g) political and regulatory stability; (h) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (i) changes in applicable legislation; (j) stability in financial and capital markets; and (k) expectations regarding the level of disruption to as a result of CV-19. Such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of Knightscope, Inc. to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a) Knightscope, Inc.’s operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; (b) public health crises such as CV-19 may adversely impact Knightscope, Inc.’s business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing Knightscope, Inc.’s business operations (e) Knightscope, Inc. may be unable to implement its growth strategy; and (f) increased competition.

Except as required by law, Knightscope, Inc. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither does Knightscope, Inc. nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this document. Neither Knightscope, Inc. nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this document by you or any of your representatives or for omissions from the information in this document.

7) Any graphs, tables or other information demonstrating the historical performance or current or historical attributes of Knightscope, Inc. or any other entity contained in this document are intended only to illustrate historical performance or current or historical attributes of Knightscope, Inc. or such entities and are not necessarily indicative of future performance of Knightscope, Inc. or such entities.

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