Axon President discusses immersive technology, AI analytics, and expanding international business
From Nasdaq: 2024-12-25 11:08:00
Josh Isner, the president of Axon Enterprise, discusses how the company is like the Apple of law enforcement in a podcast with Motley Fool analyst Jason Moser. They talk about how immersive technology improves police training and the role of drones and humanoids in public safety. Axon builds tasers and body cameras for law enforcement officers, as well as a cloud-based evidence management system and immersive augmented reality technologies. The company aims to offer police officers the same stopping power without resorting to lethal force. Axon also provides virtual reality training and AI analytics for digital evidence management. Competitors in the body camera space include Motorola. Axon, a major competitor in the body camera space, focuses on disrupting traditional police training methods with immersive technology like virtual reality, which has shown a 40% increase in retention compared to traditional methods. The company partners with HTC for hardware and develops custom content for police officers, leading to significant business growth. Beyond training, Axon also explores immersive technology for military, enterprises, international government, and civilians to provide a diverse range of content and scenarios for different customer segments. The company is also investing in AI to enhance its offerings in the future. Axon’s AI era plan, which consolidates all AI tools and future updates into a single contract, has gained traction in city council meetings just two months after its announcement. The plan includes products like Draft one, reducing police report writing time by up to 40%. CEO Josh Isner anticipates launching seven to eight more AI products in the upcoming year, reflecting a positive response from both police officers and prosecutors, who have seen improved quality and efficiency in their workflows. Axon is also making strides in international expansion, with plans to grow the international business to represent 80% of total revenue in the future. With a focus on cloud adoption and strategic hires, Axon is on track for continued growth in the global law enforcement market. Axon has seen a significant increase in international business potential with the centralization of police forces in countries like Italy. The acquisition of drone company Dedrone has expanded Axon’s market opportunity, particularly in the drone space, with a focus on drones as first responders. Axon’s DFR technology allows for drones to provide situational awareness before police arrive on the scene, potentially preventing ambushes. The future of public safety may involve humanoid robots to ensure safe outcomes in high-stress situations, where humans can control robots remotely. This technology could lead to safer outcomes for everyone involved. Josh Isner, a golfer and part of the Axon team, discusses how golf has influenced his approach to life and investing. Drawing parallels between golf, life, and investing, Isner emphasizes the importance of the “next play” mindset, focusing on the present moment and not dwelling on past successes or failures. This mindset has been crucial for Axon’s success, with a constant drive for improvement. Isner credits golf for instilling this mentality and shaping his approach to challenges and achievements. The interview with Isner highlights the valuable lessons that can be learned from sports like golf and applied to various aspects of life.
In the financial podcast, Mary Long reminds listeners to make investment decisions based on personal research and not solely on recommendations from the Motley Fool. Disclosure statements reveal the positions of board members in companies like Amazon and Apple. The Motley Fool’s editorial standards prioritize recommending products they would personally endorse, promoting transparency and integrity in financial advice. The podcast provides insights into market trends and investment strategies, empowering listeners to make informed decisions and navigate the complex world of finance responsibly.
Read more at Nasdaq: Axon President Josh Isner on AI, AR, and Drones as First Responders