Strategic Elements Ltd (ASX:SOR) is in a trading halt as it finalises an announcement regarding an agreement for the purchase of AI and robotic technology developed by 100%-owned Stealth Technologies.
The company also intends to collaborate with a global Fortune 100 technology company.
ASX has granted a halt in trading until the start of normal trading on Thursday, September 12, 2019, or when an announcement is released to the market, whichever occurs earliest.
Stealth Technologies launched
In late July Strategic Elements launched artificial intelligence (AI) and robotics company Stealth Technologies.
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 hardware and software.
Members of the team have won multiple awards at national and international levels.
Previous engagements have covered mining, commercial, government, defence and research industries.
Computer vision technologies
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 and 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.