What do you know about Hailo, the company that has been taking edge computing by storm? Unless you’re a self-professed computer geek, you may not know a lot about them at all. However, they have been making waves in the world of technology for some time now. In fact, they are the driving force behind the kind of technology that makes edge computing possible. Think of it this way. When people are working in the field, they still need technology. However, the geographic location can sometimes make that almost impossible. This is where edge computing comes in, by bringing the data closer so that there are fewer constraints involved. The end result is a more reliable connection with faster processing times. It’s crucial for both the military and First Responders. It’s also becoming more mainstream with each passing day. If you want to know more about the company behind the majority of this technology, here are 20 things that might surprise you.
1. The company mimics the way the human body works
The company has really outdone itself by recreating the way the human neurological system works in order to create Artificial Intelligence (AI) that is second to none. It’s absolutely stunning to see how they have harnessed this type of technology. Even more impressive, they managed to accomplish much of this work when AI technology itself was still very much in its infancy. As opposed to approaching things from the perspective of creating technology that could perform and adapt like a human, they approached it from the other side. They traced the steps of the neurological system and then created a system very much like it that could essentially function in much the same way.
2. They’ve outpaced most of their competition
As a direct result of their efforts, they have genuinely outpaced the majority of their competition. It’s not as if there are a lot of companies working in this particular field to begin with. In fact, there are only a handful. That said, Hailo has managed to beat most of them to the punch at almost every turn, largely because they approached things from an entirely different perspective.
3. They have some of the best talent in the world at their fingertips
In addition to knowing how to approach problems that have plagued researchers for decades, they also have some of the very best talent in this arena that has ever lived. In fact, the same person who is responsible for the creation and day-to-day operation of Hailo was once a part of the prestigious Israeli Intelligence Force. There is no doubt whatsoever that the team at Hailo have the skill and the fortitude required to achieve virtually anything they set out to do, no matter how challenging it might be.
4. They are constantly striving to learn more
No company can survive if it doesn’t grow and change with the times. That is even more true when you’re dealing with a company involved with technology. Of course, Hailo kicks that up several notches by taking their technology to the next level. They have literally turned the technology world on its ear through their extensive use of AI, something that was initially believed to be all but impossible at this level.
5. They never stop developing new technology
Since they are a technology-based company, it is crucial for their survival that they are always working on something new. Whether that involves improving technology that they are already using or taking things in an entirely different direction, they have a dedicated research and development department that works tirelessly. Such things go with the territory in almost any case, but it’s even more important when it has become the foundation of your business.
6. They just raised $136 million
As recently as October 12 of this year, the company was reported to have raised an additional $136 million for its latest round of funding. That funding is geared toward expanding their already-solid program and adapting it so that it can be successfully used in even more applications. The money raised during this latest round brings the overall valuation of the company to a staggering $1 billion.
7. They’re now considered a unicorn
The company is now considered a unicorn, meaning that it has reached a number of investors (as well as a level of investing with regard to money made) that makes it stand out from everything else of its type. The reason that it is called a unicorn is simple. It's a play on words to indicate that the company is basically in an arena all its own, someone who is making money and accomplishing things that no one else is doing.
8. They want to make their chips available around the globe
It's almost amazing when you think about it, that this type of technology can be compressed into a little tiny chip that can easily be held between your fingers or put into your pocket. However, that is the reality of the situation. Eventually, they want to be able to use these chips all around the globe, in all types of situations. That's an ambitious desire, but it's also one that they have proven they can accomplish.
9. They realize that the possibilities are endless
One of the reasons that they are achieving such great strides is because they truly realize that there is basically no limit to the possibilities here. When used effectively, AI technology can help not only the military and First Responders working in the field, but also people that are doing virtually any other type of business from any other walk of life. Imagine the possibilities when using this type of technology in the medical field or in retail. It could potentially be a genuine game changer whether you're talking about saving lives or keeping a company afloat by saving money.
10. They are preparing themselves for long-term success
Another reason that the company recently underwent another round of fundraising is because they are preparing themselves to be successful in the long term. Developing this type of technology costs a lot of money and implementing it successfully costs even more. They definitely know how to get the job done, but they have to put themselves in a position where they can do so financially. This latest round of funding allows them to do exactly that. With it, they can continue to grow and expand the company in a way that simply wouldn't be possible if it weren't for the funding that they recently received.
11. They’re taking advantage of global shortages
There are global shortages occurring with just about everything right now, even superconductors and computer chip. Hailo is working to reduce those shortages by going into overdrive and making as many chips as they can possibly make in the shortest possible amount of time. Of course, they refuse to cut corners or reduce their level of quality. Aside from that, they're practically working around the clock in order to get these computer chips out into the world, especially in the places that need them the most.
12. They’ve doubled their orders in the last quarter
According to CEO Orr Danon, the company has literally doubled its orders in the last three months alone. That comes after a major slow down in business as a direct result of the pandemic. When the rest of the world slowed down, many of their orders did the same thing. In some cases, the orders were not merely postponed, but cancelled altogether. Now that much of the world is starting to emerge, they're seeing more requests for assistance than they've ever seen in the past.
13. They are currently working on a staggering number of projects
As a result of all this recent activity, they're currently working on approximately 100 different projects concurrently. That's a staggering number of projects to work on at any one given time, but it's something that everyone involved with the company is confident they can handle.
14. Their chips can often be used in existing systems
One of the benefits of using AI technology is that many times, their chips can work with existing systems. In a lot of cases, the chips are adaptable, using the AI technology to adapt to the system that already exists as opposed to requiring a customer to purchase an entirely new system. Of course, that may not always work, as a chip can only adapt so much before it reaches its limits. However, the company has an answer for that as well and it's something that they are working on quite diligently.
15. They’re also expanding into software
As a result of the need to help their customers when their chips can't adapt to a current system, the company is also expanding into software that utilizes AI technology. The idea is to further adapt existing systems by using this type of software, making it possible for the computer chips to do what they were originally designed to do.
16. They’re working with some municipalities to create smart transportation
One of the most exciting things that they've been working on recently involves working with various cities to create smart transportation devices. Whether you're talking about a car or an aircraft, devices that are capable of transporting people autonomously require a great deal of AI technology in order to get the job done. The company has been working tirelessly with a number of different municipalities in order to accomplish this. In all likelihood, it is the face of public transportation in the future and it's something that Hailo has a good handle on in the here and now.
17. They’ve also expanded into retail and hospitality
Of course, public transportation isn't the only thing that they're currently working on. In the wake of the pandemic, they started getting requests to expand into retail and hospitality as a means of automating systems that had previously been fully manned. It started out as a way of allowing customers to shop or enjoy a venue without coming into contact with another human being. In addition, much of it has stemmed from the need for people to work remotely. Now that businesses have had to get used to doing things in this manner for such a long period of time, they have found that there are actually a number of benefits such as lower overhead and higher employee satisfaction. As a result, they've begun to look to Hailo in order to help them create systems that can achieve certain functions autonomously. Success in this arena would allow these businesses to continue operating in this same fashion in the long term without creating a system that is prohibitively expensive.
18. They just introduced a brand new chip
Their most recent product is the Hailo-8, an AI chip that is custom designed to handle the types of processes that automatically come with using Artificial Intelligence. As a matter of fact, much of the recent funding was to help them create this product, but also to accomplish many of the other tasks that have already been discussed. To date, this is their most advanced chip ever made, one that is capable of doing things that no other processor has been capable of in the past.
19. The new chip is their smallest one yet
The Hailo-8 is the smallest chip they have ever created. In fact, it is smaller than a penny. Despite its small size, it’s also one of the most powerful processors ever created. As you will soon see, it’s capable of things that no one could have even dreamed of only a few short years ago.
20. They can run advanced algorithms with only one small chip
This new chip that they have created is capable of doing the unthinkable. It can complete the same number of algorithms that would have required an entire room full of supercomputers just 10 years ago. Even more impressive, it’s capable of conducting those algorithms in record time with far fewer errors.
Written by Allen Lee
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