Duos Technologies Group, Inc. (“Duos” or the
“Company”) (Nasdaq: DUOT) through its operating subsidiary Duos
Technologies, Inc. a provider of Machine Vision and Artificial
Intelligence (“AI”) to analyze fast moving freight, passenger and
transit trains and trucks, today announces the award of a
groundbreaking patent, "Use of Artificial Intelligence to Detect
Defects in Trains and Method to Use". This innovative AI patent
reinforces Duos’ strong commitment to improving rail safety through
technology. Utilizing the Duos proprietary AI process significantly
enhances the effectiveness of mechanical railcar inspections to aid
in derailment prevention, further improving safety, and
streamlining operations.
“The timely delivery of actionable intelligence
is a key objective of Duos inspection technology,” said Jeff
Necciai, CTO of Duos. “This patent covers technology that
seamlessly integrates supervised Machine Learning (“ML”) into the
inspection process and introduces the “human in the loop” (HITL)
feature, which empowers rail industry professionals to conduct
focused, accurate and efficient inspections. I believe the patent
was awarded due to our ability to perform real-time analysis of
high-resolution image data and metadata, making it ideal for
identifying defects, preventing hazards, and ensuring safety.”
Chuck Ferry, CEO of Duos, emphasized the
significance of this patent in advancing rail safety. "Our
AI-driven approach is a game-changer for the industry. By combining
our deep understanding of the rail sector with AI technology, we're
not only helping prevent derailments but setting a new standard for
safety in the rail industry through innovation and strategic
advancements in artificial intelligence."
Duos AI teams are staffed with rail industry
experts, leading to a high-performance factor for automated
detections while avoiding questionable results generated by
theoretical models developed in a laboratory without specific rail
industry expertise.
Duos was recently awarded a major multi-year
contract for a Class 1 railroad using this AI technology. To stay
up to date on the Company's most recent developments or to learn
more about the Duos story and its revolutionary technology
platforms, be sure to follow here or sign up for email alerts here.
For more information please contact DUOT@duostech.com or visit the
Company's website and social media channels: Website, LinkedIn,
Twitter.
About Duos Technologies Group,
Inc.
Duos Technologies Group, Inc. (Nasdaq: DUOT),
based in Jacksonville, Florida, through its wholly owned
subsidiary, Duos Technologies, Inc., designs, develops, deploys and
operates intelligent vision-based technology solutions using
Machine Vision and Artificial Intelligence (“AI”) to analyze fast
moving freight, passenger and transit trains and trucks
streamlining operations, improving safety and reducing costs. The
Company provides cutting edge solutions that automate the
mechanical and security inspection of fast-moving trains, trucks
and automobiles through a broad range of proprietary hardware,
software, information technology and artificial intelligence. For
more information, visit www.duostech.com.
Forward- Looking StatementsThis
news release includes forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended,
regarding, among other things our plans, strategies and prospects
-- both business and financial. Although we believe that our plans,
intentions and expectations reflected in or suggested by these
forward-looking statements are reasonable, we cannot assure you
that we will achieve or realize these plans, intentions or
expectations. Forward-looking statements are inherently subject to
risks, uncertainties and assumptions. Many of the forward-looking
statements contained in this news release may be identified by the
use of forward-looking words such as "believe," "expect,"
"anticipate," "should," "planned," "will," "may," "intend,"
"estimated," and "potential," among others. Important factors that
could cause actual results to differ materially from the
forward-looking statements we make in this news release include
market conditions and those set forth in reports or documents that
we file from time to time with the United States Securities and
Exchange Commission. We do not undertake or accept any obligation
or undertaking to release publicly any updates or revisions to any
forward-looking statements to reflect any change in our
expectations or any change in events, conditions or circumstances
on which any such statement is based, except as required by law.
All forward-looking statements attributable to Duos Technologies
Group, Inc. or a person acting on its behalf are expressly
qualified in their entirety by this cautionary language.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/7bef396e-8e6b-4dee-abe8-e72a55269b9d
Contacts
Duos Corporate
Fei Kwong, Director, Corporate Communications
Duos Technologies Group, Inc. (Nasdaq: DUOT)
904-652-1625
fk@duostech.com
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