Leading Russian software company NtechLab has partnered with local enterprise Ribat Metatech to promote advanced face recognition software in Bangladesh.
NtechLab, one of the global leaders in the field of facial recognition, on Thursday announced the partnership with Bangladeshi software company Ribat Metatech at an event in Dhaka to offer software for security services and commercial clients in Bangladesh.
NtechLab is the first major Russian software developer to enter into the Bangladeshi market.
Facial recognition technology empowers governments and security services to act with greater speed and confidence. It employs high-precision, real-time face recognition mode in video streams. Images are compared with a database of wanted individuals, officials of the Russian company said at the event.
"If there is a match, the platform notifies law enforcement immediately. The entire process, from the appearance of a person in front of a camera to law enforcement receiving a signal, takes only seconds," according to a PowerPoint presentation at the event.
"This enables a fast response to situations as they develop. The technology can also provide commercial companies, such as retail stores, exhibition halls and trade centers with richer audience analytics on visitor numbers, including segmentation based on gender and age, the average length of visit time and whether attendees are new or regular visitors."
Another application is facial recognition for access control and attendance management systems, added the presentation.
Golam Sarwar, managing director of Ribat Metatech, said: "Partnership with NtechLab will contribute to the further development of artificial intelligence systems and skilled manpower in Bangladesh."
Pavel Borisov, NtechLab's head of Business Develop-ment and Sales in South Asia, said: "Bangladesh is a reliable friend and partner of Russia in many fields. We believe that another page of successful bilateral cooperation has been opened today. We expect more Russian Startups to join us here."
The Embassy of the Russian Federation in Dhaka in a written message welcomed the move, saying that the "initiative will become another step forward on the way of developing business relations between Russia and Bangladesh."
In the last decade, the trade turnover increased six times and reached an all-time high of almost US$3 billion in 2021, according to the written speech.
The Russian enterprises supply machines, equipment, metals, wheat and fertilisers to the local market, while more than 600 Bangladeshi companies export high-quality ready-made garments and knitwear to Russia.
"Both sides are willing to overcome current global challenges to further expand mutually beneficial dialogue, both on G-to-G and B-to-B levels. It is worth noting that emerging challenges are often accompanied by new opportunities," reads the message.
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