Foresight Signs AI-Driven Smart Parking Solutions Collaboration Agreement with South Korean 7meerkat and KONEC

Core Viewpoint - The collaboration between Foresight Autonomous Holdings Ltd., 7meerkat Ltd., and KONEC Ltd. aims to develop and commercialize AI-powered parking management solutions to enhance urban parking efficiency and user experience [1][4]. Group 1: Collaboration Details - A three-way multi-phase strategic cooperation agreement has been signed among Foresight, 7meerkat, and KONEC to leverage Foresight's 3D perception technology for smart parking solutions [1]. - The collaboration will integrate Foresight's technology, which utilizes both visible-light and thermal infrared cameras, into 7meerkat's AI-powered systems, with KONEC leading market promotion efforts [4]. Group 2: Technological Innovations - Innovations will include AI analysis of vehicle data, automated parking systems, and enhancements for smart urban mobility, featuring AI-driven vehicle identification and monitoring for electric vehicles [2]. - The solutions will also monitor vehicle conditions such as contamination and damage, aiming to improve urban parking systems [2]. Group 3: Background of Companies - 7meerkat specializes in next-generation parking management systems, focusing on AI capabilities like automatic number plate recognition and vehicle classification, and aims to expand globally [5]. - KONEC is a leading Tier-One automotive supplier, manufacturing parts for eco-friendly vehicles and venturing into new industries aligned with electrification and software advancements [6]. - Foresight develops smart multi-spectral vision software solutions and accident-prevention technologies through its subsidiaries, targeting various markets including automotive and defense [7][8].