Foresight
Foresight Autonomous Holdings Ltd
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Who is Foresight Autonomous Holdings?
According to a recent article in the New York Times, consensus is growing among designers that self-driving cars just aren’t perceptive enough to make them sufficiently safe. So now engineers are considering using more sophisticated sensors and technology — tech that can see through rain and even look underground. The problem is that cars can’t begin to figure out what’s around them — separating toddlers from traffic cones, for example — if they can’t see the objects in the first place. In the parlance of autonomous vehicle engineering, perception has to be accurate enough to enable obstacle detection in the harshest weather, regardless of shape, form or material.
Foresight Autonomous Holdings Ltd. (NASDAQ and TASE: FRSX) (“Foresight”) is a technology company engaged in the design, development and commercialization of sensor systems for the automotive industry. Through their wholly owned subsidiaries, Foresight Automotive Ltd. and Eye-Net Mobile Ltd., the Company has developed both “in-line-of-sight” vision systems and “beyond-line-of-site” cellular-based applications. The Company’s vision sensor is a four-camera system based on 3D video analysis, advanced algorithms for image processing and sensor fusion. The Company’s cellular-based application is a V2X (vehicle-to-everything) accident prevention solution based on real-time multi-agents positioning algorithms. The Company’s systems are designed to increase safety by enabling highly accurate and reliable threat detection while ensuring the lowest rates of false alerts. FRSX is also a 24.12% shareholder in Rail Vision Ltd., a leading provider of cutting-edge cognitive vision sensor technology and safety systems for the railway industry
The Markets
Original Equipment Manufacturers (“OEM”) and other service providers must implement solutions for autonomous vehicles that are robust yet cost effective and capable of operating in even the most challenging conditions. This is where Foresight positions itself as a strategic fit across a range of markets that have a new vision for autonomous vehicles, including passenger cars, public transportation and fleets, commercial vehicles, defense and security platforms.
The Benefits
Adding autonomy to any vehicle brings a host of benefits. These vehicles require significant investments and enabling them to operate during inclement weather and poor lighting conditions delivers a clear return on investment. These vehicles must be able to sense and avoid specific objects, including people, animals and other machinery, at all times. In addition, strict regulations limit the number of hours commercial drivers can log while on the road or while operating heavy-duty vehicles, effectively decreasing capacity. Autonomous vehicles (“AV”) could operate continuously, potentially reducing downtime and cutting costs for construction projects, while increasing capacity. AVs can potentially reduce traffic congestion and time spent on the road and provides time for drivers to engage in other activities. AVs can also give mobility options to those who cannot drive for any number of reasons, effectively improving their quality of life.
Conclusion
Foresight’s systems are designed to improve driving safety by enabling highly accurate and reliable threat detection while ensuring the lowest rates of false alerts. Foresight is targeting the semi-autonomous and autonomous vehicle markets and predicts that its systems will revolutionize automotive safety by providing an automotive-grade, cost-effective platform and advanced technology.
Foresight’s technology is derived from field-proven homeland security technology that has been deployed worldwide for almost two decades in critical international facilities including borders, nuclear plants, and airports.
Foresight’s QuadSight system is a key component that may enable Level 3, 4 and 5
autonomy by solving the two main challenges of detecting any obstacle and allowing
autonomous vehicles to safely endure extreme weather and lighting conditions. Foresight’s solution enables 24/7 operation in harsh weather conditions and complete darkness for a complete 3D image of the driving environment. Frost & Sullivan has stated that they believe that the market opportunity ranges in the hundreds of billions of dollars annually.
The Company targets vehicle manufacturers (OEMs), system integrators (Tier One suppliers) and strategic suppliers, allowing them to adapt Foresight’s core technology to their specific needs in order to enable vehicle autonomy. Foresight has sold 8 systems for testing to leading OEMs and Tier One suppliers in the US, Europe, China, Israel, and Japan.
By offering three diverse engagement models, from software licensing, to a system on a chip, as well as a fully integrated model, Foresight provides the desired flexibility to the
value chain enabling them to work with a diverse array of clients from OEMs, to chip providers.