Grant: CCI Applied Research and Development Grants

The explosive growth in the number of vehicles in use today presents several societal and environmental challenges, especially in urban centers. As this number increases, so does the demand for parking spaces. Limited parking availability in urban areas leads to parking shortages, illegal parking, and increased competition for parking spots, further exacerbating congestion and frustration among drivers. LocoMobi World is a smart city technology company that specializes in parking and other solutions for the transportation industry in North America. The company manufactures innovative hardware and software solutions, including a revolutionary License Plate Recognition (LPR) system, for a broad range of environments that include commercial and residential buildings, schools, airports, hotels, and healthcare centers. The Sheridan’s Centre for Applied AI (CAAI), a leader in creating innovative AI solutions, is partnering with LocoMobi in this project to leverage AI, especially machine learning and computer vision, to advance the state-of-the-art in smart parking. AI generates valuable insights from parking data, enabling stakeholders to make informed decisions regarding parking infrastructure investments, pricing strategies, and policy development. Overall, the implementation of an AI-based smart parking management system for LocoMobi has the potential to make a significant national impact in Canada. These include (i) efficient real-time space utilization in parking space occupancy to ensure that parking resources are utilized to their maximum capacity, thereby reducing traffic congestion and air pollution due to fuel consumption and emissions, (ii) improved driver experience and satisfaction through real-time information on parking availability and vacant spots, (iii) dynamic pricing strategies based on demand patterns to balance supply and demand while generating additional revenue, and (iv) enhanced safety and security via license plate recognition and vehicle tracking. Overall, smart parking technology provides municipalities and security agencies in Canada with valuable tools for enhancing public safety, improving traffic management, and combating crime.