Deepnoid Partners with Cognex for LMM-Based Machine Vision Solution Agreement

Goal to Advance Technology and Expand Global Business Network
Expecting Revenue Growth with AI Technologies in Medical, Security, and Industrial Fields

Deepnoid, an artificial intelligence (AI) software development company, announced on the 5th that it has signed a memorandum of understanding (MOU) with Cognex, a global industrial machine vision company, to develop a machine vision solution based on large multimodal models (LMM).

They agreed to collaborate to expand their business in AI-based image analysis systems utilizing vision pro deep learning and LMM. Together, they will build an AI-based image analysis system.

LMM is a generative AI model that adds image learning to the existing language learning performed by large language models (LLM). Since it can understand and respond even when users input images instead of text, its range of applications is broadened. The two companies expect that the machine vision solution applying this technology will have a positive ripple effect across various industries.

Deepnoid is currently engaged in medical AI, security AI, and industrial AI businesses. It gained market attention as a medical AI company until last year. Deepnoid’s technology is rapidly being applied not only in healthcare but also in security and industrial sectors. Its machine vision inspection solution, DEEP:FACTORY, provides optimized image solutions for industrial processes that were previously difficult, such as ▲defect inspection in assembly processes ▲foreign substance detection ▲reagent application inspection. It has been supplied to various domestic clients, including large corporations. The company is planning an integrated inspection platform that goes beyond simple defect inspection. Deepnoid continues to develop integrated models and application items based on LMM. Its research and development organization has also undergone integration work.

Cognex, listed on NASDAQ, is a global machine vision company with a market capitalization of approximately 8 trillion KRW. It owns various products related to machine vision, including vision cameras, systems, and barcode readers. In 2021, it achieved annual sales of 1.3 trillion KRW. It is one of the top companies in the industrial machine vision field. Cognex is conducting business based on long-standing trust relationships with domestic IT and secondary battery companies.

According to market research firm MarketsandMarkets, the global machine vision market is expected to grow at a compound annual growth rate (CAGR) of 7.1% to reach 15.5 billion USD by 2026. The domestic machine vision market is growing faster than overseas markets, with an expected CAGR of 10.5%, reflecting high expectations for the machine vision market in Korea.

Combining Cognex’s hardware-based systems and sales network with Deepnoid’s AI software technology can enable entry into most industrial sectors, including semiconductors, displays, secondary batteries, automobiles, and smartphones, as well as security and healthcare. If Deepnoid’s technology, applying the latest powerful generative AI called LMM, is applied to Cognex’s machine vision, it is expected to have a positive ripple effect across the entire industry.

Deepnoid CEO Choi Woosik explained, “The industrial equipment market has grown due to automation issues such as smart factories. Going forward, it is time to focus on enhancing product competitiveness through equipment advancement and defect rate reduction by the full-scale application of AI software.”

He added, “Machine vision technologies such as vision inspection, defect detection, and product identification are increasingly in demand in industrial sites. Deepnoid will transform from a research and development-centered company to a business-centered company based on cooperation with Cognex and strive for significant sales growth.”

CEO Choi said, “This year, we expect not only significant external growth compared to the previous year but also long-term growth rates in the industrial AI market that surpass other AI-related industries.”

This content was produced with the assistance of AI translation services.