Frequently Asked Questions
LoopX was founded in 2021 when the Covid-19 pandemic brought about significant disruption to the delivery services industry — from the shortage of human couriers to the rising costs of labor. These factors have led to increasing demands for autonomous robots for last-mile delivery.
The LoopX AI-powered vehicle-agnostic autonomy solutions refer to the use of artificial intelligence (AI) algorithms to enable autonomous operation of vehicles without the need for specific hardware or software modifications to the vehicles themselves. In other words, these solutions are designed to work with any type of vehicle, regardless of make or model, by integrating with the vehicle’s existing hardware and software systems. The vehicle-agnostic aspect of these solutions is important because it allows for a more cost-effective and flexible implementation of autonomous driving technology. Instead of requiring specialized autonomous vehicles, LoopX solutions can be integrated into existing fleets, making them accessible to a wider range of organizations and industries.
What is the target market of LoopX’s AI-powered vehicle-agnostic autonomy solution? And who are the customers?
Automated mining equipment is known to reduce the amount of human labor required in the mining process. The mining industry is undergoing a transformation that is leading to the embrace of automation. The major factors that drive the growth of the global market are an increase in the demand for employee safety, the rise in demand for increased productivity, concerns about lowering operational costs are becoming more common.
The World Economic Forum estimates the global autonomous mining equipment market may exceed USD 375 billion in the following five years, with a Compound Annual Growth Rate (CAGR) of 12.7%. By 2027, the autonomous mining software market is estimated to be over $100B, which takes up roughly one third of the whole autonomous mining equipment market. Currently, the penetration of autonomous mining vehicles is less than 5%, and its projected adoption rate of the autonomous mining is 25% by 2025.
Mines can be divided into underground mines and open-pit or surface mines. It is observed that mining is going towards deeper underground, not only because metals and minerals close to the surface are increasingly rare, but because underground mines have a significantly lower environmental footprint. LoopX AI is disrupting the huge autonomous underground mining market.
In accordance with the product roadmap of LoopX AI, at current stage, those mining equipment manufacturers (OEMs) are our primary customers, as well as those traditional mining technical companies that have huge demands in retrofitting mining vehicles with autonomy.
How does LoopX’s AI-powered vehicle-agnostic autonomy solution differ from other autonomous driving technologies?
Unlike surface mining, underground mining is a GPS denied environment, which is a technical challenge for autonomy. LoopX’s proprietary multi-modal precise localization method (US Patent Filed) delivers centimeter-level localization for both indoor/underground and outdoor/over-ground, which enables mining vehicles navigate autonomously and seamlessly from underground to over-ground or vice versa. Heavy dust in underground mines is another technical challenge for autonomous vehicles, which brings in noise for the perception system of AVs and usually causes false detection of obstacles. Thanks to our patent pending robust noise-filtered perception fusion technology that has been verified on different autonomous vehicle platforms including the GoosEx delivery robots and the WatonoBus shuttle bus on harsh snowy days, LoopX’s autonomous system can work reliably in the underground mining environment with heavy dust and poor visibility. Based on our competition analysis, we are the first mover in the autonomous underground mining sector in North America.
How does LoopX’s autonomous solution handle unexpected situation on the road?
Answer: LoopX’s AI-powered vehicle-agnostic autonomy solution is designed to be highly responsive and adaptive to unexpected situations on the road. The system is constantly monitoring the vehicle’s environment through a range of sensors, including cameras, lidar, and radar, which allows it to detect and respond to potential hazards in real-time.
In the event of an unexpected situation, our solution is programmed to prioritize safety above all else. It can quickly assess the situation and decide on the appropriate action to take, such as slowing down, stopping, or changing lanes. The system also has built-in safety features, such as emergency braking and collision avoidance, to further mitigate any potential risks.
Additionally, our solution is constantly learning and improving through machine learning algorithms, which enable it to adapt to new and challenging situations over time. We conduct rigorous testing and simulations to ensure that our system can handle a wide range of scenarios, including extreme weather conditions, road construction, and unexpected obstacles.
Overall, our AI-powered vehicle-agnostic autonomy solution is designed to provide a safe and reliable driving experience in any situation. We are committed to ensuring the highest level of safety and performance for our customers and their fleets.
At LoopX, we take data security and privacy very seriously. We understand that the data collected by our AI-powered vehicle-agnostic autonomy solution is sensitive and confidential, and we are committed to safeguarding it at all times.
To ensure the security of the data collected by our solution, we employ a range of technical and organizational measures. This includes the use of advanced encryption methods to protect data in transit and at rest, as well as strict access controls to limit who can access the data. Our system is also designed to minimize the amount of data collected, and we only collect the data that is necessary for the safe and efficient operation of our solution. We are transparent about the data we collect and how it is used, and we provide our customers with full control over their data.
LoopX’s AI-powered vehicle-agnostic autonomy solution offers a range of benefits that can help fleet operators reduce costs and increase efficiency. By automating the driving process, our solution eliminates the need for a human driver, which can significantly reduce labor costs and improve efficiency.
LoopX’s solution is also designed to operate 24/7, which means that fleet operators can maximize their vehicle utilization and increase their revenue potential. This is particularly useful for delivery services and logistics companies, where time is of the essence. In addition, our solution can help to reduce fuel consumption and maintenance costs by optimizing routes and driving patterns. Our system considers a range of factors, such as traffic conditions and road closures, to find the most efficient route for each vehicle. This can help to reduce fuel consumption and minimize wear and tear on the vehicle.
Overall, our AI-powered vehicle-agnostic autonomy solution offers a cost-effective and efficient alternative to traditional manual driving. By automating the driving process, fleet operators can reduce labor costs, increase revenue potential, and improve vehicle utilization, while also benefiting from reduced fuel consumption and maintenance costs.
Is LoopX’s solution compliant with current regulations and standards for autonomous driving technology?
At LoopX AI, we take regulatory compliance and safety very seriously. Our AI-powered vehicle-agnostic autonomy solution is designed to meet and exceed current regulations and standards for autonomous driving technology. Our system is designed to comply with all relevant regulations and standards for autonomous driving, including those set by government agencies and industry organizations. We work closely with regulatory bodies to ensure that our solution is fully compliant with all applicable regulations and standards.
We also conduct extensive testing and validation to ensure that our solution is safe and reliable for use on public roads. This includes conducting real-world testing, as well as simulation testing, to assess the performance and safety of our system in a range of scenarios.
Overall, our customers can be confident that our AI-powered vehicle-agnostic autonomy solution is fully compliant with current regulations and standards for autonomous driving technology. We are committed to ensuring the highest level of safety and compliance for our customers and their fleets.
LoopX AI delivers its autonomous system/solution to those mining equipment manufacturers and traditional mining technical companies for both pre-installed and retrofitting markets. LoopX AI provides the UG mining market with 2 levels of autonomous system solutions, i.e., Advanced Driver Assistance System (ADAS) and Autonomous Driving System (ADS) to match the budgets of mass customers. More features may be achieved by system customization. For ADAS features, such as our unique underground terrain ups and downs alert system we are developing, we sell the complete system (hardware + software) to OMEs. For the ADS feature, Autonomous Software as a Service (SaaS) subscription is mainly how LoopX AI makes the sales. The usages of the ADS system determine the revenue of the company.