Comprehensive updates and new standalone offering set industry standard for high-resolution visual AI inspections
JACKSONVILLE, FL / ACCESSWIRE / April 13, 2021 / Duos Technologies Group, Inc. ("Duos" or the "Company") (NASDAQ:DUOT), through its operating subsidiary Duos Technologies, Inc., announced today that twenty-five (25) new perspectives have been added to the current nine (9) on its industry leading Railcar Inspection Portal (rip®) solution. Of these new perspectives, ten (10) of these have been incorporated into Duos' new obliquevue™ offering.
These new products are currently in production at a major Class 1 Railroad and are part of a significant planned expansion of this customer's rip® program already in operational production at seven (7) locations across North America in both the US and Canada.
These new system perspectives incorporate the latest in imaging technologies capturing images at four (4) times the resolution of the current system. The obliquevue™ is the first of a new generation of AI based inspection systems being developed by Duos as a part of a new "rapid development" initiative started in late 2020. Duos' rapid development objective is to respond dynamically to customer requirements for systems that will work within existing operations and without requiring major changes to operational practices.
The obliquevue™ was developed in 60 days from initial concept through testing and is also in production use at this time. This system provides ten (10) new visual perspectives at oblique angles underneath a railcar. Although designed to work as a part of the rip®, the product can be deployed independently for certain applications as well.
"As the first deployment in our "Rapid Development" initiative, the obliquevue™ represents a major technical and symbolic achievement for the future of our company" said Duos CEO Chuck Ferry. "We implemented this program at the beginning of the year as part of the reorganization of our overall technology approach whereby our Engineering, Information Technology, Software Development and AI teams are collaborating closely to design, manufacture and deploy new products in a very short period of time based on specific customer needs and feedback. Our combined technology teams have openly embraced this new approach and worked collectively to achieve the stretch goals set by senior management. Going forward, we are already seeing this new approach to development, combined with our focus on operational efficiency, starting to pay dividends in terms of faster deployment and improved customer satisfaction."
The obliquevue™ is the first in a series of new innovations anticipated from the Company over the next 18 months. Additional information on these new product[s] is available on the Duos website at https://www.duostechnologies.com/new-technologies/
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 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.
Contacts:
Corporate
Fei Kwong
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
SOURCE: Duos Technologies Group, Inc.
View source version on accesswire.com:
https://www.accesswire.com/640241/Duos-Technologies-Introduces-obliquevue-and-Additional-Perspectives-to-Its-Railcar-Inspection-Portal-Solution
