The deal will accelerate the use of WowYow’s technology and create a foundation in which computer vision AI is commercialized and made accessible for businesses
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Computer vision, an interdisciplinary field that focuses primarily on how computers can extract, analyze, and gain a high-level understanding of digital images and videos is expected to be a market worth more than $95 billion by 2027.
Since 2016 WowYow has been leveraging its computer vision technology in the media industry to automate the analysis of publisher video and image content and to serve contextually relevant advertisements without relying on user tracking and third-party cookies. This media industry solution has seen major adoption in recent years and continues to gain market traction going into 2022.
“WowYow is one of the most technologically innovative companies I’ve encountered,” said Brad Chisum, Launch Factory Partner. “Launch Factory is excited to partner with WowYow to bring that same innovative mindset to how they think about business. Together we will create multiple computer vision startups to develop new customers for their AI platform technology.”
WowYow’s partnership with Launch Factory will focus on leveraging WowYow’s revolutionary intellectual property (IP) and combining it with Launch Factory’s successful model to help build and launch new companies in 2022. Together, WowYow and Launch Factory have identified multiple promising verticals with disruptive market applications which will aim to capture a larger share of the multi-billion dollar computer vision market.
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Three key advantages that make WowYow’s AI platform highly competitive are its cost-effective processing engine, smart detection algorithms, and applied AI solutions.
“The unique ways in which we can scale and deploy our technology across multiple industries is a true testament to our IP,” says Adam Boskovich, WowYow Chief Executive Officer. “We focus on applied AI when many of our competitors in the space do not. As we look towards the future we see applied AI as a big part of how WowYow democratizes the use of artificial intelligence.”
To streamline the process and help build out new companies and applications, Launch Factory has secured multiple licenses to access WowYow’s artificial intelligence. The companies will access artificial intelligence through WowYow’s application programming interface (API) and software development kits (SDKs).
“The partnership between WowYow and Launch Factory will be truly symbiotic as WowYow will see our technology deployed across new markets and Launch Factory gets to build and launch compelling new companies utilizing WowYow’s proprietary IP,” said Jarett Boskovich, WowYow Chief Marketing Officer. “WowYow has already seen huge success in the media industry and this new partnership with Launch Factory is an exciting way for us to expand and provide solutions to brand new industries.”