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.

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

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

Real-time detection

icetana’s core Safety and Security AI product will assist security and information technology teams manage large-scale surveillance at the 1 Utama shopping mall in Selangor, which has more than 750 shops spread over seven extensive floors.

The product uses self-configuring and self-learning AI to detect unusual events that can be 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 can include unexpected speed in hallways or near exits or unscheduled gatherings around entrances or high-value targets such as jewellery stores.

Security alerts

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.

Additional growth

Chief executive officer Kevin Brown said the company’s first sale in Malaysia represented 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.”