OMNIQ ANNOUNCES THE ADDITION OF IN CAR FACE DETECTION TO ITS AI MACHINE VISION COMPREHENSIVE SOLUTION
October 12 2023 - 8:30AM
OMNIQ Corp. (NASDAQ: OMQS) (“OMNIQ” or “the
Company”), a provider of Artificial Intelligence (AI)-based
solutions, today announced it added in car face detection to its
Machine Vision features and following a series of competitive tests
by a demanding security authority has been selected to deploy its
system with the new critical feature. OMNIQ was invited to
demonstrate the new system for border control in North America.
“We are proud that our scientists successfully
developed this critical feature for terror and crime prevention,
which is essential and needed worldwide. We have a long history of
deploying our AI technology to the most sensitive and demanding
authorities in the world. With this additional feature, we are
offering a comprehensive solution that is found superior and more
accurate than competitors. Our systems are currently deployed at
many borders including the San Diego- Mexico, Texas-Mexico,
Canada-Alaska, Israel-Jordan and in the Far East borders lending
further proof that our technology is trusted where it matters most,
protecting human beings around the globe. We believe that this new
feature will further improve safety and prevent crimes and terror
attacks more efficiently and quicker. The momentum in the market
acceptance for our AI based solution continues after our recent
wins in additional airports and for safety and security” said Shai
Lustgarten, CEO of OMNIQ.
OmniQ’s AI-based machine vision VRS solution
uses patented Neural Network algorithms that imitate human brains
for pattern recognition enabling smart and quick decision-making.
More than 20,000 omniQ AI-based machine vision sensors are
installed worldwide, including approximately 8,000 in the U.S.
omniQ’s AI based Machine vision capabilities are founded on
patented features including vehicle identification by make and
color combined with superior accuracy based on sophisticated
algorithm and machine learning.
About OMNIQ Corp:
OMNIQ Corp. provides computerized and machine
vision image processing solutions that use patented and proprietary
AI technology to deliver data collection, real-time surveillance
and monitoring for supply chain management, homeland security,
public safety, traffic & parking management, and access control
applications. The technology and services provided by the Company
help clients move people, assets, and data safely and securely
through airports, warehouses, schools, national borders, and many
other applications and environments.
OMNIQ’s customers include government agencies
and leading Fortune 500 companies from several sectors, including
manufacturing, retail, distribution, food and beverage,
transportation and logistics, healthcare, oil, gas, and
chemicals.
The Company currently addresses several
billion-dollar markets, including the Global Safe City market,
forecast to grow to $67.1 billion by 2028, and the Ticketless Safe
Parking market, forecast to grow to $33.5 billion by 2032 and the
fast casual restaurant sector expected to reach $209 billion by
2027.
For more information please
visit www.omniq.com.
Information about Forward-Looking
Statements
“Safe Harbor” Statement under the Private
Securities Litigation Reform Act of 1995. Statements in this press
release relating to plans, strategies, economic performance and
trends, projections of results of specific activities or
investments, and other statements that are not descriptions of
historical facts may be forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995,
Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934.
This release contains “forward-looking
statements” that include information relating to future events and
future financial and operating performance. The words “anticipate”,
“may,” “would,” “will,” “expect,” “estimate,” “can,” “believe,”
“potential” and similar expressions and variations thereof are
intended to identify forward-looking statements. Forward-looking
statements should not be read as a guarantee of future performance
or results and will not necessarily be accurate indications of the
times at, or by, which that performance or those results will be
achieved. Forward-looking statements are based on information
available at the time they are made and/or management’s good faith
belief as of that time with respect to future events and are
subject to risks and uncertainties that could cause actual
performance or results to differ materially from those expressed in
or suggested by the forward-looking statements. Examples of
forward-looking statements include, among others, statements made
in this press release regarding the closing of the private
placement and the use of proceeds received in the private
placement. Important factors that could cause these differences
include, but are not limited to: fluctuations in demand for the
Company’s products particularly during the current health crisis,
the introduction of new products, the Company’s ability to maintain
customer and strategic business relationships, the impact of
competitive products and pricing, growth in targeted markets, the
adequacy of the Company’s liquidity and financial strength to
support its growth, the Company’s ability to manage credit and debt
structures from vendors, debt holders and secured lenders, the
Company’s ability to successfully integrate its acquisitions, and
other information that may be detailed from time-to-time in OMNIQ
Corp.’s filings with the United States Securities and Exchange
Commission. Examples of such forward looking statements in this
release include, among others, statements regarding revenue growth,
driving sales, operational and financial initiatives, cost
reduction and profitability, and simplification of operations. For
a more detailed description of the risk factors and uncertainties
affecting OMNIQ Corp., please refer to the Company’s recent
Securities and Exchange Commission filings, which are available
at https://www.sec.gov. OMNIQ Corp. undertakes no obligation
to publicly update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
unless otherwise required by law.
Contact Info:IR@omniq.com
OMNIQ (NASDAQ:OMQS)
Historical Stock Chart
From Sep 2024 to Oct 2024
OMNIQ (NASDAQ:OMQS)
Historical Stock Chart
From Oct 2023 to Oct 2024