Duos Technologies Joins NVIDIA Metropolis to Accelerate Railcar Inspections, Enhance Safety with Vision AI

JACKSONVILLE, FL / ACCESSWIRE / June 7, 2022 / Duos Technologies Group, Inc. ("Duos" or the "Company") (NASDAQ:DUOT) through its operating subsidiary Duos Technologies, Inc., a provider of vision-based analytical technology solutions, today announced it has joined the NVIDIA Metropolis partner program. Metropolis is an application framework and set of developer tools that bring to market a new generation of vision artificial intelligence (AI) applications to make the world's most important spaces and operations safer and more efficient.

Duos adopted the NVIDIA Metropolis application framework to meet its desire for the latest AI-powered video analytics tools. The implementation of the software will improve Duos' technological framework by supplementing its existing systems with railcar-oriented technological advancements. The end result is expected to improve safety and reduce dwell time, all while speeding up inspections.

Duos will use NVIDIA GPU-accelerated technologies such to build algorithms and train railcar inspection use case datasets. As vision-based AI advancements take shape in transportation, Duos continues to pursue collaborations that push its technology to the forefront.

NVIDIA Metropolis makes it easier and more cost effective for enterprises, governments, and integration partners to use world-class AI-enabled solutions to improve critical operational efficiency and safety problems. The NVIDIA Metropolis ecosystem contains a large and growing breadth of partners who are investing in the most advanced AI techniques and efficient deployment platforms and using an enterprise-class approach to their solutions. Members have the opportunity to gain early access to NVIDIA platform updates to further enhance and accelerate their AI application development efforts. Further, the program offers the opportunity for partners to collaborate with industry-leading experts and other AI-driven organizations.

"The introduction of NVIDIA's products into our systems will add considerable value to the current best-practice methods that we have in place," said Duos Chief Executive Officer Chuck Ferry. "Our company is first and foremost an artificial intelligence organization. The railroad application is the first iteration of what we plan to expand into other sectors, both domestically and internationally."

"Joining the NVIDIA Metropolis program helps to elevate the quality of our solutions, so that we can be better positioned in the market to capitalize on emerging opportunities. We look forward to furthering our work with NVIDIA in the future," he added.

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 regarding the Company's business prospects that involve substantial risks and uncertainties that could cause actual results to differ materially. Forward-looking statements relate to future events and typically address the Company's expected future business and financial performance. Words such as "plan," "expect," "aim," "believe," "project," "target," "anticipate," "intend," "estimate," "will," "may," "should," "could," "forecast" and other words and terms of similar meaning, typically identify such forward-looking statements. In particular, statements regarding anticipated improvements to the Company's technological framework, the Company's pursuit of strategic partnerships to improve its technology, and the Company's plans to expand into new sectors domestically and internationally are examples of such forward-looking statements. Forward-looking statements involve risks and uncertainties and there are important factors that could cause actual results to differ materially from those expressed or implied by these forward-looking statements. These factors include, but are not limited to, risks related to the Company's ability to generate sufficient cash to continue and expand operations, the competitive environment generally and in the Company's specific market areas, changes in technology, the availability of and the terms of financing, changes in costs and availability of goods and services, economic conditions in general and in the Company's specific market areas, changes in federal, state and/or local government laws and regulations potentially affecting the use of the Company's technology, changes in operating strategy or development plans and the ability to attract and retain qualified personnel. The Company cautions that the foregoing list of risks, uncertainties and factors is not exclusive. Additional information concerning these and other risk factors is contained in the Company's most recently filed Annual Reports on Form 10-K, subsequent Quarterly Reports on Form 10-Q, recent Current Reports on Form 8-K, and other filings filed by the Company with the U.S. Securities and Exchange Commission (the "SEC"), which are available at the SEC's website, http://www.sec.gov. The Company believes its plans, intentions and expectations reflected in or suggested by these forward-looking statements are based on reasonable assumptions. No assurance, however, can be given that the Company will achieve or realize these plans, intentions or expectations. Indeed, it is likely that some of the Company's assumptions may prove to be incorrect. Each forward looking statement speaks only as of the date of the particular statement. 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 forward-looking statement is based, except as required by law. All subsequent written and oral forward-looking statements concerning the Company or other matters attributable to the Company or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above.

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

SOURCE: Duos Technologies Group, Inc.