With the increasing rate of threat activities, it’s not just our physical safety we have to be concerned about, our country’s deficit is at risk as well. Economic costs for prevention and recovery has also dramatically increased. The IEP conservatively estimates the economic cost reached it’s highest ever level in 2014 at $52.9 billion.
The financial repercussions of containing this kind of violence are significant and greater than the direct expense of the acts themselves. Gone are the days when relying on archaic video surveillance is sufficient in the prevention of the horrific acts that are becoming more prevalent each day.
According to New York City Police Department (NYPD) statistics, less than 1 percent of active shooter incidents ends with the attacker fleeing, the rest ending in application of brute force or suicide. Suffice to say employing or investing in archaic technology with no ability to provide data in real time has not only been proven negligible as a deterrent but in most cases only acts as a forensic tool for post-event analysis.
If the costs of containing this kind of violence are significant and greater than the direct costs of than the act itself, the question remains as to what we can expect concerning technology that will aid in the prevention of such acts?
Patriot One Tech (OTCMKTS:PTOTF) president Dinesh Kandanchatha believes that by deploying a technology with the cognitive ability to detect guns and knives while assessing the level of the threat in the process is going to be the first step in real-time prevention. “We need innovative technology that detects concealed weapons, alerting first responders and security personnel about possible threats that exist,” says Kandanchatha.
Beyond saving human lives, this technology could save the United States billions of dollars by preventing terrorist attacks and mass shootings from materializing. An analysis done by The New York Times found that the September 11th attacks created $55 billion in physical damage and $123 billion in economic damage. Not to mention the countless other expenses that followed such as developing the Homeland Security Department, funding the war, etc...
As such tragedies are costly in both death and money spent on repairing the damages that occur, the United States needs an effective solution that is proactive, rather than reactive. Gordon Adams, a national security budget expert, estimates that the US spends at least $100 billion a year on counter- terrorism efforts. The United States spends more money on defense and counter-terrorism than any other country in the world. If a preventive solution was in place, perhaps then those funds could be redirected to improving other areas of our country that desperately need attention.
Surveillance technology isn’t just for anti-terrorism efforts. Big retailers are diving head in too, with mega giants like Wal-Mart announcing it’s months from beginning to use drones to monitor warehouse inventories in the U.S. The company’s drone surveillance is part of a $2.7 billion effort to enhance its technological capabilities, to help stem sales erosion to e-commerce competitors. Wal-Mart’s embrace of aerial surveillance is a significant step forward for the everyday, mainstream deployment of these futuristic machines.
It’s no wonder surveillance technology is being called the “next big thing” and having investors take notice. I think we could agree we would feel much safer knowing that there’s a technology out that with the ability to deter a criminal’s efforts to cause harm by detecting the threat immediately. Not to mention prevent theft, vandalism and other nuisances businesses are faced with today.