The Brainchip Holdings Ltd (ASX: BRN) share price has tumbled lower today despite the release of a positive announcement.
In afternoon trade the artificial intelligence company's shares are down 5% to 19 cents. Though it is worth noting that its shares are still up 22% since this time last month.
What was the announcement?
This morning the company announced the release of its new software product BrainChip Studio.
According to the release, BrainChip Studio uses an artificial intelligence technology to allow law enforcement and intelligence organisations to rapidly search vast amounts of video footage for identifying patterns or faces.
Impressively, the spiking neural network technology it has developed enables BrainChip Studio to work on low resolution video and requires only a 24×24 pixel image to detect and classify faces.
Management believes there is a large market opportunity for the software given the lack of development in video analysis technology despite the massive growth in video surveillance.
You can read more about the company's technology here.
