WAYNE, Pa., April 23, 2019 /PRNewswire/ -- Vy Corporation, an artificial intelligence software company headquartered in Wayne PA, announced the receipt of a Phase I Small Business Technology Transfer (STTR) Grant from the Air Force Research Laboratory (a scientific research organization operated by the United States Air Force). The overall objective of this project is to prototype an approach to reliably find people, vehicles and weapons from unmanned aerial vehicle video. Video analysis is among the fastest growing segments of the Deep Learning market and is projected to grow from $3 billion in 2018 to an astonishing $24 Billion by 2024 (Zion Market Research 8/7/2018). Measurability of deep learning models has emerged as a significant problem which this project is intended to address. Current systems are unreliable, require time-consuming calibration, and have no audit trail or feedback mechanism to explain how decisions are made.
Vy is developing a powerful set of algorithms, collectively called Shape Based Modeling Segmentation (SBMS), as the basis for a new analytical software product intended to help overcome the increasingly severe data analysis bottleneck associated with the growth of digital imagery. The company's software has made significant gains in the medical device, oncology, and drug discovery space based upon its ability to find and characterize cells and areas of interest (cancer versus non-cancer) on very large (Gigapixel) digital images under the brand name CytoSavvy. As part of the STTR Grant, Vy will be working with Dr. Jianbo Shi a Professor of Computer and Information Science at the University of Pennsylvania. "The GRASP Laboratory in the Computer and Information Science School at the University of Pennsylvania has world class computer vision and machine learning capabilities and we are excited about the opportunity to work with Dr. Shi and his team," said Vy's CEO John Freyhof.
The first phase of the project is expected to last nine months and result in a plan to prototype an operational system as part of a larger Phase II project. Vy received seed funding from private investors and Ben Franklin Technology Partners of Southeastern Pennsylvania. "We think Vy's work with the University of Pennsylvania has the potential to generate significant new jobs in the region," said Tony Green, Vice President at Ben Franklin's Technology Commercialization Group.
For more information, contact [email protected].
SOURCE Vy Corporation