Duos Announces Latest Railcar AI Detection Model and Customer Deployment
18 5월 2023 - 9:00PM
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, today
announced the release of its latest key railcar artificial
intelligence (“AI”) detection model for use with the Company’s
Railcar Inspection Portal (“rip®” or “RIP”) solution. The new
algorithm covers end-of-car cushion inspection, a condition which
can potentially lead to derailments.
The new “Head of Cushioning Unit Condition”
detection model identifies when a cushion unit head, located
between railcars and similar to a shock absorber, is broken or
missing. When the head of a cushion device is damaged or missing,
it can cause the coupler to not travel properly, which can lead to
a derailment and associated line-of-road-delays. Leveraging this
new algorithm, the RIP system can detect when a cushion unit head
is damaged or missing, so that it can be replaced before greater
damage occurs. Once identified by the system, determination as to
whether the detection result is actionable is made by a qualified
mechanical car inspector in accordance with AAR Rule 59 (Cushioned
Underframe Devices) and FRA 49 CFR 215.
The new model was developed in response to a
specific customer request and deployed during mid Q2. Within the
first five days of deploying Duos’ new detection model, the
customer recorded 19 validated defects, which were immediately
addressed to avoid potential derailments.
“We are continuing to advance rail safety
standards with the development of specialized AI models capable of
identifying defects that can cause real problems for rail
operators, including derailments,” said Duos CEO Chuck Ferry. “This
new ‘Head of Cushioning Unit Condition’ model is already in use at
one of our Class 1 customers, and we’ve demonstrated meaningful
results in identifying validated defects. As we expand the breadth
of detection models for our RIP systems, customers have shown a
clear desire to add this greater level of coverage. We plan to
continue expanding our AI development work and expect to have more
than 50 models available in our catalogue by year end.”
The Company recently released news regarding the
publication of its catalogue of AI detection models for the rail
industry, which can be accessed here.
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
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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 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 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/d2ab796b-b635-4e1d-ba62-fdcd7f747601
Contacts
Corporate
Fei Kwong, Director, Corporate Communications
Duos Technologies Group, Inc. (Nasdaq: DUOT)
904-652-1625
fk@duostech.com
Investor Relations
Matt Glover or Tom Colton
Gateway Investor Relations
949-574-3860
DUOT@gatewayIR.com
Duos Technologies (NASDAQ:DUOT)
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