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Strategic Elements launches AI and robotics company Stealth Technologies, shares up 29%

The new company has expertise in artificial intelligence (AI), machine learning, automation, computer vision and robotics.

artificial intelligence
Shares have traded as high as 5.8 cents today, up over 30% on yesterday's close

Strategic Elements Ltd (ASX:SOR) has launched an artificial intelligence and robotics company, Stealth Technologies Pty Ltd.

Stealth is collaborating with leading research institutes and experts across AI technologies to develop proprietary technologies and deliver innovative solutions.

The team of PhD and masters level engineers have strong capabilities in AI, machine learning, big data, automation, computer vision and robotics for both hardware and software.

Members of the team have won multiple awards at national and international levels.

Notably, previous engagements have covered mining, commercial, government, defence and research industries.

Focused on using computers to analyse photos and video

Stealth is developing proprietary computer vision technologies, a branch of AI that uses machine learning to quickly process and analyse visual data from photos or video.

Computer vision is not one technology, but several that are combined to create intelligence.

In the end, computer vision is a method for acquiring, processing and analysing images, and can automate, through machine learning techniques, what human visual analysis can perform.

Visual data is a high-growth emerging industry with 44.3 billion cameras forecast to exist in the world by 2022.

READ: Strategic Elements continues to advance dual focus on IoT and resources

Strategic’s managing director Charles Murphy said: “Stealth technologies has been positioned higher up the valuation ladder than other companies in this sector due to its dual capabilities in both hardware and software development.

“In anticipation of near term events, we have expanded the engineering, operations and business development team within the company.

“The team has been working extremely hard to finalise some existing opportunities and we look forward to unveiling the innovative technology that the Stealth team has been working on.”

Strategic Elements to operate as venture builder

The Australian Federal Government has registered Strategic Elements as a Pooled Development Fund with a mandate to back Australian innovation.

Strategic operates as a ‘venture builder’ where it generates ventures and projects from combining teams of leading scientists or innovators in the technology or resources sectors.

Due to the Pooled Development Fund program that Strategic operates under, most shareholders pay no tax on capital gains or dividends.

Quick facts: Strategic Elements Ltd

Price: 0.077 AUD

ASX:SOR
Market: ASX
Market Cap: $22.05 m
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