Duos Technologies Group Inc (OTCQB:DUOT) announced Tuesday that it has launched a new artificial intelligence subsidiary truevue360, or tv360 for short.
The new AI-based platform will support Duos’s underlying software platforms for its rail inspection portal system, vehicle undercarriage examiner and advanced logistics information system. The management at tv360 will also work collaboratively with outside service providers to develop advanced algorithmic models.
The Jacksonville, Florida-based company specializes in rail train inspections that use an automated process which can be conducted while a train is in motion. Duos’s technology takes detailed, real-time, full-picture images of rail cars traveling at speeds of up to 120 miles per hour.
“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,” said Gianni Arcaini, CEO of Duos, in a statement.
Tv360 is now being staffed with development teams both in the US and in the European Union, where the company has already employed a team of developers for the past four years. The subsidiary’s mission is to build value-added software technologies for artificial intelligence, machine learning and algorithm development.
Later this year, Duos’s management team expects to add a dedicated sales and marketing team to tv360 to focus on selling its programs.
Tv 360’s services rely 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 set to be installed to support operations. The new systems will process deep learning algorithms on the millions of images and other data sources that Duos systems capture and analyze.
Duos shares gained 4% to hit $0.52 on Tuesday in morning trade.
Contact Ellen Kelleher at [email protected]