ParkingAid

The business idea of ParkingAid is to solve parking related problems. The first feature which will be the pinnacle of all features will be the one where you can scan parkingsigns at the parkingspot to get a greater understanding wheter you can park on the spot or not.

The function will be built of an AI, an interface, an image analysis model, a regulations model and transportstrylesens database where all of the parking regulations are stored (this is what the app will be based on in the beggining combined with the AI, before the AI becomes independant).

In the beggining the app will work in parallel with the information on transportstyrelsens database and the AIwhich will be sent to the regulations model, and the further to the interface which will combine the two results to give the user the most accurate answer possible.

The process of the photo scanning will look the following:

The user takes a photo of the parking sign --> AI "reads" the sign and pinpoints the location where the user takes the photo and compares this place to transportstyrelsens database regarding the parking regulations in that area --> These factors will get feeded in to the regulations model which will calculate based on current date and time wheter you are allowed to stand on the parking place and for how long.

As earlier mentioned we are only going to use transportstyrelsens database in the beggining while we train our AI, it will continuously get better and better the more users and photos it has acces to. After the AI has been trained to the level where it is not reliable on transportstyrelsens database, it will be able to interpret the information on the parkingsigns by itself and give the users an accuracy way above 99%, this because the AI will become better and better at reading parkingsigns and because it will base earlier answers to positions and give the user as quick answers as possible.

To develop this function we will cooperate with a service provider who has the ability to produce an AI that is good enough for the task. We will use external help to produce this because the level that the AI is based of is very high and hard to understand for someone who does not have any experience regarding programming.

This is where the funding for the most part will go as well as training for the AI which will take place efter the launch of the applicaton. The reason we want to develop our own AI for this application is due to the IP rights that come with it. ParkingAid will have full ownership of this function (the IP), which possibly gives the company even greater value. In the future we are planning on searching for patent on this solution.

The second feature ParkingAid will release is the function where you can see nearby parking garages and information regarding the price and other conditions at these, parking lots, charging poles for electric vehicles aswell as the diffrent zones and rates for bigger cities.

The function is relatively simple to develop, it will require a cooperation with diffrent companies that provides parking spaces in parking garages, we believe this will be of intrest to these companies as we will have an substantial amount of users they have the possibility to reach out to. This function will be built in cooperation with these companies, where we get acces to their informations and rates.

The third function we will release is the function to pay for your parking trough our application. This function will work for the users that saves their credit card information in our application. These users will hence have the opportunity to pay their parking ragarding where they are instead of downloading 17 diffrent applications from the companies providing these parkingspots. This will not only make it easier for the user but also more secure since you do not reveal your private card information to 17 diffrent companies.

Further on the app will be translated to the 14 diffrent languages you can take the written exam for your drivers license in Sweden, This is one of our goals at ParkingAid to make it easier for everyone regarding background and ethnicity the same prerequisites when parking.

The application will be based of multiple functions each and everyone with their own importance and resemblance of what ParkingAid is and stands for.