The 24th World Congress on Information Technology (WCIT) Global ICT Excellence Award winners were announced on November 19th. Thanks to the support of MOEA Department of Industrial Technology's (DoIT’s) Technology Development Program and the recommendation of the Information Service Industry Association of R.O.C., ITRI’s AI-LiDAR Based People Flow Management System for Prevention of COVID-19 won the COVID-19 Tech Solutions for Cities and Localities Award, and its Next-Generation AI-Powered Robo-Advisor Technology (NeGAP) won a Merit Award in the Digital Innovation Award category. This recognition demonstrates ITRI’s outstanding capabilities in ICT R&D.
ITRI’s AI-LiDAR Based People Flow Management System is deployed at Keelung's Miaokou Night Market to assist in smart city pandemic prevention.
ITRI, Keelung City government, and Silicon Valley’s XR/AI startup AEMASS teamed up to deploy Taiwan’s very first AI-LiDAR Based People Flow Management System at Keelung's Miaokou Night Market. Dr. Tzeng-Yow Lin, General Director of ITRI’s Center for Measurement Standards, indicated that this smart epidemic prevention system helps the local government effectively manage crowd control, conduct peak and off-peak crowd analyses, and analyze people flow direction to implement social distancing measures.
The AI-LiDAR Based People Flow Management System can produce three-dimensional data with near-millimeter resolution to analyze the flow direction of crowds for flow control. The data can also provide insights such as foot traffic patterns for the authorities to launch new commercial plans, e.g., engaging nearby business districts.
The system does not capture and store any personal face data on passersby, thus eliminating the risks of privacy infringement and complying with international privacy regulations such as General Data Protection Regulation (GDPR).
The compact system is easy-to-install, scalable, and cost-saving. It can be installed at entrances, with a detecting range reaching to 80 m, and can also be applied to other pandemic-prevention services beyond COVID-19.
This innovation enables Keelung City Government to win its second international recognition since the ASOCIO Smart City Award 2019. In the future, the technology can be employed in event data statistics, interactive services, and augmented reality applications to stimulate more smart city developments.
Unlike the Robo-Advisors available on the current market, NeGAP employs deep reinforcement learning (DRL) algorithms combined with Robo-Advisor market perspectives to automatically offer suggestions on whether the investor should invest more or less, suspend the investment, or redeem the fund units.
“NeGAP brings innovative ideas into investing,” said Dr. Vincent Feng, ITRI’s General Director of Computational Intelligence Technology Center. “It helps the general public with limited funds manage their investments easily, and the transparent data in the Robo-Advisor can avoid human errors and interference.”
NeGAP uses DRL techniques to analyze large amounts of heterogeneous financial data, including trade data, economic indices, and policy reports. Unique Robo-Advisor market perspectives are then generated by predicting market trends through different models to help investors find investment markets and products with potential in the ever-changing capital market. The Robo-Advisor also integrates investment theories to determine asset allocations and dynamically adjust investment portfolios to reduce investment risks.
NeGAP supports the dollar-cost averaging strategy operation of a single fund or a set of funds as well. Investors simply set their expected rate of return or payout ratio, and the Robo-Advisor will suggest the investment portfolio with the lowest risk or best payout combination. When the Robo-Advisor predicts changes in market trends or fund performances, asset allocation can be dynamically adjusted.
Investors who use this technology to screen investment markets and conduct asset allocation in the 33 global stock & bond markets have an over 80% chance of enjoying a better return rate than that from direct allocation and about 25% improvement in the annualized rate of return.
The two award-winning technologies both incorporate AI innovation to galvanize smart city and smart commerce developments. This echoes ITRI’s 2030 Technology Strategy & Roadmap, in which Intelligentization Enabling Technology is utilized to create more possibilities for smart living applications.