icetana AI Secures AE Security System as First Malaysian Customer for Its Video Analytics Product

Australian software firm icetana AI (ASX: ICE) has secured AE Security System as the first Malaysian customer for its artificial intelligence (AI) video analytics product.

Australian software firm icetana AI (ASX: ICE) has secured its first Malaysian customer for its artificial intelligence (AI) video analytics product, with AE Security System signing on for the service.

The contract, priced on a software-as-a-service basis over an initial three-year period, will add $155,000 per year to icetana AI’s annual recurring revenue, ultimately valued at $465,000.

Licensing will begin once the software is implemented in the March 2025 quarter.

The icetana Safety and Security AI product will assist security and information technology teams in managing large-scale surveillance at the 1 Utama shopping mall in Selangor, which boasts over 750 shops spread across seven expansive floors.

The product utilises self-configuring and self-learning AI to autonomously detect unusual events that could serve as early warning signs of disruptive behaviour or potential assaults and other dangerous incidents.

Video analytics automates the monitoring of video surveillance footage, enabling real-time detection and analysis of events and reducing the risk of missing critical threats.

Unusual events could include unexpected speed in hallways or near exits or unscheduled gatherings around entrances or high-value targets such as jewellery stores.

icetana’s product adapts and learns from the daily flow of shopping mall activities, ensuring that security teams are alerted to any deviation from the norm.

It can integrate seamlessly with existing security cameras and video management systems to increase an end user’s capabilities by automatically identifying unusual activities.

This enables security personnel to proactively recognise incidents as they happen.

icetana chief executive officer Kevin Brown said the company’s first sale in Malaysia presented a significant opportunity for additional growth.

“This sale is supported by our new sales team and our product strength in delivering autonomous security solutions in large shopping malls,” Mr Brown said.

“It is an exciting time for icetana AI as our investments in this sector bear fruit.”