Iveda is a worldwide provider of smart city digital transformation technologies, Artificial Intelligence (AI)-based video search technology and Internet of Things (IoT) devices and management platforms. Pulse 2.0 interviewed Iveda CEO and founder David Ly to learn more about the company.
David Ly’s Background
What is David Ly’s background? Ly said:
“I fled Vietnam in 1978––when I was just four years old––taking to open water with my aunt to find safety. In that regard, I’m what you could call a ‘boat baby.’ We were rescued by a Norwegian fishing boat and dropped off in Osaka, Japan, where I lived as a refugee for a year before immigrating to the U.S.”
“I had a relatively average American life from that point forward, but this harrowing childhood experience has certainly shaped me into the man and business owner I am today. I attended college just as the Dot Com era was coming to an end and began my career in the wireless Internet space. Later in my career I worked for a telecom provider, which is where I dreamt up what would eventually become Iveda.”
Formation Of Iveda
How did the idea for Iveda come together? Ly shared:
“In the early 2000s, I held a technical sales and engineering role at a wireless company in San Jose, California. I had just received a promotion into a leadership role –– one that I had been working diligently toward and was proud to accept –– and just two weeks later, the entire company went under.”
“I found myself in quite a career conundrum. And while I had no alternatives or clear path forward, I took this misfortune as an opportunity to make the leap from employee to entrepreneur. I had already been percolating on several ideas in the telecom and security space and was being presented with the moment to act on them. Looking back, this was a truly pivotal moment in my career and in my life. From there, Iveda was born.”
Core Products
What are the company’s core products and features? Ly explained:
“Iveda is the provider of global solutions for cloud-based, video AI search and security technologies that protect the people, places, and things that matter the most. Iveda’s technology provides instant intelligence to existing infrastructure, enabling cities and organizations around the world to seamlessly enter the fifth industrial revolution.”
“Iveda operates at the forefront of digital transformation of cities across the world, using IoT platforms with smart sensors and devices developed to aid with use cases surrounding public safety, security, elderly care, energy efficiency, environmental preservation, and more. Headquartered in Mesa, Arizona, with a subsidiary in Taiwan, Iveda is publicly traded under the ticker symbol ‘IVDA.’”
Challenges Faced
What challenges have Ly and the team faced in building the company? Ly acknowledged:
“In my industry, a challenge that we’re often presented with is people’s misconceptions around AI –– what it is, what it can do, and where it is realistically headed. Popular portrayals of AI show a lot of hostile takeovers or “Minority Report” scenarios; but in reality, the technology is serving as a critical force multiplier across industries that are often in desperate need of an extra hand (think: security, manufacturing, retail, etc.). While ethical questions certainly remain surrounding the use of AI, important conversations regarding transparency, privacy, and bias mitigation are happening every day and we believe strongly in the power of AI as a force for good.”
Evolution Of Iveda’s Technology
How has the company’s technology evolved since launching? Ly noted:
“When Iveda began operating almost 20 years ago, IoT was on the cutting edge and IP/video surveillance was a revolutionary technology. Although IoT has existed for decades, it’s once again becoming buzzworthy as AI merges into the space, playing a major role in the evolution of the technology and its impact on society. As a part of this evolution, it’s been exciting to see the technology grow from nascent to advanced over the past 2+ decades.”
Significant Milestones
What have been some of the company’s most significant milestones? Ly cited:
“Iveda has been on a massive growth trajectory in recent years. In the last year alone we have unveiled several major partnerships across Egypt, The Philippines, Vietnam, Latin America, Australia, and Taiwan. We have also announced new product offerings and capabilities, including vumastAR, an AI vision software designed to make day-to-day tasks across industries easier than ever before; IvedaAI Sense, an AI-based sensor – using Iveda’s Cerebro AI Platform – that can precisely detect smoke and vapor particles and incidents of bullying; and our cloud subscription offering, an industry-first service that makes cutting-edge AI video services available for use cases from the consumer to professional level.”
Customer Success Stories
When asking Ly about customer success stories, he highlighted:
“One customer example that we’re always pleased to share is our work with Claro Enterprise Solutions. In deploying Iveda’s technology, Claro recently launched an AI video analytics product, which provides an innovative and invaluable tool for enhancing vigilance in public spaces, including school campuses. The technology can detect potential threats including smoke and fire, unauthorized access, and weapons.”
Future Company Goals
What are some of the company’s future goals? Ly pointed out:
“We believe Iveda is well on its way to being the first provider that governments, communities, and organizations turn to for AI-powered security. Our global footprint is ever-expanding and we’re eager to take our capabilities and offerings into new industries and markets. This is just the beginning. We plan to announce more growth, products, and partnerships through the second half of 2024 and beyond.”
