One of the biggest movers on the market today has been the Brainchip Holdings Ltd (ASX: BRN) share price.
At the time of writing the artificial intelligence company's shares are up 20% to 24 cents.
Today's gain is the result of a positive announcement relating to its revolutionary new Spiking Neuron Adaptive Processor (SNAP) technology.
The SNAP technology has been designed to learn autonomously, evolve, and associate information just like the human brain.
It has received a lot of attention in recent months following its deployment in several U.S. casinos. The company's Game Outcome solution utilises SNAP to determine cards and outcomes in real‐time, while monitoring and providing alerts for gaming operators.
But its use doesn't stop there. Today the company announced that it has signed a protocol evaluation agreement with the Toulouse branch of the French National Police.
According to the release the Toulouse branch has been mandated by the French National Police to perform the evaluation of advanced forensic video analytic technologies.
They will evaluate the company's SNAPvision technology which enables law enforcement personnel to rapidly scan through terabytes of recorded video to search for identifying characteristics such as faces, body shapes, and clothing patterns.
What's next?
While no financial terms were discussed, I can still understand why investors have responded positively to the announcement.
Should the evaluation go well I wouldn't be surprised to see the technology rolled out across all branches of the French National Police.
Considering how tense the situation is in France following recent terrorist attacks, this sort of technology could prove to be invaluable.
Should you invest?
I've been very impressed with the technology and I think there are countless ways for the company to monetise it.
But with a market cap of almost $150 million, there's an awful lot of growth built into its share price today.
Because of this I would suggest investors hold off an investment until there are signs that it can live up to the market's high expectations.
In the meantime an investment in fellow tech shares Altium Limited (ASX: ALU) and Appen Ltd (ASX: APX) could be better options in my opinion.
