JACKSONVILLE, Fla., July 27, 2023 (GLOBE NEWSWIRE) — 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 that analyzes fast moving vehicles, issued a statement today highlighting significant upgrades to its centraco® and truevue360™ systems. Both systems are responsible for processing and communicating near real-time analysis of car conditions to customers and subscribers.
Railcars contain hundreds of parts and critical components that must be regularly inspected to ensure safe and reliable operations. Duos works with its customers to understand their priorities and develops detection models based on key inspection points where those parts are most likely to malfunction. These inspection points are the focal areas for the Company’s wayside detection technology. Once the points have been scanned, the imaging results are communicated to mechanical inspectors via near real-time alerts and notifications so that any required or precautionary repairs can quickly take place.
The recently released performance enhancements further reduce the inspection cycle time by immediately drawing attention to the most critical areas. In addition, the upgraded system has added capabilities that allow railroad customers to immediately alert the on-board personnel of any issue that is deemed critical.
“Our developers and partners have taken another meaningful step in improving the capabilities of our systems and have brought us closer to eliminating the delay between defect scans and notifications,” said Duos Chief Executive Officer Chuck Ferry. “While our systems have always performed to a very high standard, the new implementation helps support both new and existing customers as they seek to drive improved safety and greater consistency with near real-time feedback. Our systems’ increased timing and on-board notifications will be major proof points as we continue to validate our subscription offering to the North American rail industry.”
With a major focus on AI, Duos has been working with several infrastructure partners to drive higher performance. Beyond simple imaging, the Company’s Railcar Inspection Portal (“rip®” or “RIP”) is a comprehensive, AI-driven inspection solution that utilizes AI infrastructure platforms such as Dell Technologies and NVIDIA. Duos, an NVIDIA Metropolis partner, uses NVIDIA L4 GPUs to power its AI-enabled railcar inspection systems.
Duos recently issued a press release citing how their customers are increasingly implementing targeted AI to enhance their inspections.
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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 supporting rail, logistics, intermodal and government customers that streamline operations, improve safety and reduce 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 Statements
This 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.
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Source Globe Newswire