Subsidiary to Focus Exclusively on Artificial Intelligence and Deep Machine Learning
JACKSONVILLE, Fla., Feb. 05, 2019 (GLOBE NEWSWIRE) -- Duos Technologies Group, Inc. (“Duos” or the “Company”) (OTCQB: DUOT), has launched a new subsidiary, truevue360™ (“tv360”). Duos, through its operating subsidiary Duos Technologies, Inc., is a provider of intelligent security and analytical technology solutions. The new tv360 operating subsidiary will focus on driving significant additional revenues and margin to Duos by developing, implementing and marketing artificial intelligence (“AI”) and deep learning solutions for a broad range of industries.
The new AI-based platform will augment the Company’s existing intelligent technologies centraco® and praesidium®, which are the underlying software platforms for its Rail Inspection Portal (“rip”) system Vehicle Undercarriage Examiner (“vue”) and Advanced Logistics Information System (“alis”). Tv360 will also work collaboratively with outside service providers and technologies already in use to develop advanced algorithmic models.
Gianni Arcaini, Chairman and CEO of Duos stated: “Society finds itself again at the crossroad of a major technology shift. Many aspects of our personal and professional lives are expected to be significantly impacted by the latest developments of applications built on distributed AI. Duos’ history is one of innovation in advanced intelligent technologies and our objective with truevue360 is to significantly add to our capabilities in this important space. The addition of truevue360 to our family of companies is expected to enhance shareholder value over the long-term through new revenue streams as well as a technological base on which we can enhance our existing offerings for current and new customers.”
Tv360 is currently being staffed with development teams both in the US and the European Union, where the Company has already employed a team of developers for the past four years. Tv360’s primary mission is to build value-added software technologies for artificial intelligence, machine learning and algorithm development. Later this year, we expect to add a dedicated sales & marketing team to tv360 with a focus on selling the solutions created to existing and new customers and supporting the Duos teams in the growth of the existing business. Tv360 will provide its services relying on both external cloud services as well as a cloud platform operated at the Company’s Colo-data center where dedicated high-performance computing systems are expected to be installed to support operations. The systems will be used to process deep learning algorithms on the millions of images and other data sources that Duos systems capture and analyze across a variety of customer industries, employing relevant deep learning algorithms to suit their specific needs.
While primitive versions of machine vision and machine learning have made their way into the industrial process for most of the past 30 years, the latest generation in AI combines new, high-performance computer chip sets resulting in high-level machine intelligence, neural networking topographies, and the Internet of Things (IoT), providing significant strides in overall computational logic. Additionally, the substantial growth in general processing capabilities has now made it affordable to apply deep learning and machine vision-based processes to many aspects of life.
Deep learning and AI enable computers to continuously learn new concepts from raw data, much like the human mind. Image or other data sources are connected in real-time to an artificial neural network (ANN) and automatically analyzed against conditions of interest defined by the end-user. In deep learning, large artificial neural networks are fed learning algorithms and ever-increasing amounts of data, continuously improving their ability to "think" and "learn" with the more data they process. "Deep" refers to the many layers the neural network accumulates over time, and performance improves the deeper the network gets. While most deep learning is currently done with human supervision, the aim is to create neural networks that can train themselves and "learn" independently.
About Duos Technologies Group, Inc.
Duos Technologies Group, Inc. (OTCQB: DUOT), based in Jacksonville, Florida, through its wholly owned subsidiary, Duos Technologies, Inc., provides advanced intelligent security and analytical technology solutions with a strong portfolio of intellectual property. The Company’s core competencies include intelligent technologies that combine machine learning, artificial intelligence and advanced video analytics that are delivered through its proprietary integrated enterprise command and control centraco® platform. The Company provides its broad range of technology solutions with an emphasis on mission critical security, inspection and operations within the rail transportation, retail, petrochemical, government, and banking sectors. Duos Technologies also offers professional and consulting services for large data centers. For more information, visit www.duostech.com.
Forward Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking terminology such as “believes,” “expects,” “may,” “will,” “should,” “anticipates,” “plans,” or similar expressions or the negative of these terms and similar expressions are intended to identify forward-looking statements. Such statements are subject to certain risks and uncertainties, which could cause Duos Technologies Group, Inc.’s actual results to differ materially from those anticipated by the forward-looking statements. These risks and uncertainties include, but are not limited to, those described in Item 1A in Duos’ Annual Report on Form 10-K, which is expressly incorporated herein by reference, and other factors as may periodically be described in Duos’ filings with the SEC.
Duos Technologies Group, Inc.
Matt Glover or Tom Colton
Released February 5, 2019