Artificial Intelligence
Predictmedix Inc. Announces LOI to Acquire Symp2pass Inc.
TORONTO, March 23, 2021 (GLOBE NEWSWIRE) — Predictmedix Inc. (CSE:PMED) (OTCQB:PMEDF) (“Predictmedix” or the “Company”) is pleased to announce it has entered into a letter of intent (the “LOI”), to acquire Symp2Pass Inc. (“Symp2pass”) (the “Acquisition”). The LOI was executed on February 24, 2021 and currently Predictmedix and Symp2pass are working on the definitive agreement.
Symp2Pass is a profitable, revenue generating AI powered IoT product suite of technologies developed by SmartCone Technologies Inc. Symp2Pass had revenues of $2.27 million for the fiscal year ending December 31, 2020 (unaudited) with earnings before taxes of approximately $205,000.
Symp2Pass is one of the first end-to-end advanced touchless health and wellness testing solutions that currently provides advanced COVID-19 symptom screening from multiple independent sensors with geolocation mapping making it unique and more reliable than a single test or measurement. Much like Predictmedix’s Safe Entry Station units, Symp2Pass affords hardware product installation that is coupled with scalable, AI powered software technologies. Beyond the standard questionnaire based screening tools, Symp2Pass measures actual temperature, capable of cough identification, and scent recognition, all critical parts of a more effective screening. Symp2Pass also affords integration capabilities with other IoT products such as RFID bracelets and QR Codes and associated scanners that can assist workplaces in comprehensive employee tracking, tracing, and reporting tying those initial measurements for individuals with multiple automated measurements in various situations during the day. The data collected from the hardware components are immediately uploaded on the cloud and is synthesized with AI-powered technologies within seconds to deliver instant results.
The strategic acquisition will catalyze growth prospects for Predictmedix and will allow the company to offer world class products in line with our mission of becoming the first line of defense in improving workplace health and safety.
Predictmedix’s acquisition of Symp2Pass’s product suite will broaden our target market, complementing our product suite in three strategic ways:
1. Data Collection and Improvement
Data is the lifeblood of an AI-powered solution suite, and with live deployments, Symp2Pass will generate large, high quality datasets that will allow Predictmedix to improve its symptom detection and disease screening technologies. Moreover, the integration of the data sets with our current product suite will allow the simultaneous improvement in the product offering at all Predictmedix and Symp2Pass live installations.
2. Complimentary product installation
The acquisition will allow Symp2Pass product deployments to integrate with Predictmedix’s software suite, which will enhance the functional and operational efficacy of the technology products that are offered by both companies. The complimentary integration of the technology stack will simultaneously improve product efficiency for all our customers.
Symp2Pass’s thermal scanning capabilities allow scans to be completed with an accuracy of ± 0.54° F and can scan up to 30 people at a distance of over nine feet. With Predictmedix’s infectious disease screening algorithms, the company will be able to develop non-invasive screening at scale.
3. Revenue and Market Expansion
In Symp2Pass’s first year of operation, its initial product offering generated revenues of $2.27 million for the fiscal year ended December 31, 2020 (unaudited) with earnings before taxes of approximately $205,000. Symp2Pass current clients include an agency of the Canadian government and a large US utility player.
The ability to screen individuals at entrances and as well as at a distance will allow the firm to expand its current client base to large institutional organizations, universities, and government agencies. The acquisition of future customer contracts based on a recurring revenue model will expedite Predictmedix’s path to profitability and creating value for our stakeholders.
“We at Symp2Pass are very excited to be collaborating with Predictmedix to provide everyone with the first full end-to-end COVID health screening solution. This collaboration will integrate AI (artificial intelligence), biometric analysis, patented hardware and web processes, entrance monitoring, employee tracking and much more. The complete Symp2Pass process will allow people, businesses, governments and countries to get back to work quickly and profitably. Simply, we see it as a future standard for continuing public health and mobility beyond COVID19” stated Symp2Pass CEO Richard Harris.
“There is one word that encapsulates our decision to acquire the Symp2Pass product suite from SmartCone – synergy. From a technology to business development, the acquisition will lead to function improvements in product offerings for both companies. Not only does this mean that all of our existing technologies become better, but also that we’re ramping up revenue generation and building toward sustained, growing profitability with a broader, more robust client base and product offerings,” said Dr. Rahul Kushwah, COO of Predictmedix.
Under the terms of the LOI, the acquisition is valued at approximately $5 million which will be paid in cash and common shares of Predictmedix with the cash component capped at $1 million and the remainder paid out in common shares of Predictmedix with certain milestones, subject to final negotiations. Following completion of the transaction Sypm2pass will be a fully owned entity by Predictmedix.
Completion of the transaction is subject to customary closing conditions, including completion of due diligence, negotiation of definitive agreements and receipt of all necessary approvals. The parties anticipate completing the definitive agreements within the next 30-60 days.
For more details on this release please click on the following video interview:
https://www.globenewswire.com/NewsRoom/AttachmentNg/3c9e4794-f770-4a11-b544-ae4c9cbf7c0e
About Symp2Pass Inc.
Symp2Pass is a collaboration of doctors, researchers, developers, AI specialists and business professionals helping to shape it into the first end-to-end advanced touchless health and wellness testing solution which currently provides advanced Covid-19 screening, analyzing with geo-location mapping.
Symp2Pass starts with a quick private at-home COVID test, using any smart device, the process is:
| 1) | Adaptable Educational Survey | |
| 2) | Patent Pending Scent Test (ScentsiBLE) | |
| 3) | Cough identification | |
| 4) | Actual Temperature test (completed at Symp2Pass Entrance Kiosk) | |
| 5) | Immediate results page | |
| 6) | Comprehensive mapping feature: | |
| a. | If having symptoms – map shows local COVID testing centers | |
| b. | If no symptoms – map shows local areas that are safe or suspect of COVID. | |
| 7) | Optional Corporate: | |
| a. | Vaccine tracking for employees | |
| b. | Full comprehensive reporting | |
| c. | Employee tracking and tracing. | |
| 8) | Artificial Intelligence flexibility will be added to Symp2Pass 2.0 coming in late 2021/early 2022 |
Symp2Pass is a majority-owned subsidiary of SmartCone Technologies Inc. (“SmartCone”) and its solution was created in SmartCone’s technology incubation program.
About SmartCone Technologies Inc.
SmartCone Technologies Inc. is a unique data sensory company that commercializes new Internet-of-Things (IoT) technologies powering a wide array of sensors, edge computing, sensor fusion and artificial intelligence (AI). Most recently TheSmartCone™ has been seen in “Return to Work” solutions during this COVID-19 pandemic, which includes everything from thermal camera check points to contact tracing and disinfection. Other well know solutions include securing dangerous work sites, controlling bicycle lane traffic, managing vehicle fleets, smart warehouses, crowd control, and more.
SmartCone Technologies Inc. continues to bring new products and novel technologies and solutions to market through its technology incubation program, Innovation Lab, with support and funding from industry and the Canadian Government. Visit us at www.thesmartcone.com
About Predictmedix Inc.
Predictmedix Inc. is an artificial intelligence (“AI”) company developing disruptive tools for impairment testing and healthcare. It is intended that the Company’s cannabis and alcohol impairment detection tools will be used across various workplaces and by law enforcement agents. Its technology uses artificial intelligence to identify both cannabis and alcohol impairment by utilizing multiple features along with numerous different data points. Testing does not require any body fluids or human intervention, thereby helping to remove human error and the potential for discrimination and prejudice.
The Company is also developing AI based screening for the healthcare industry. The recent advent of COVID-19 pandemic has placed unprecedented stress on the global economy and highlights the need for tools to help screen mass populations for infectious diseases, with the hope of preventing pandemics in the future. In turn, Predictmedix Inc. has expanded its proprietary AI technology to screen for infectious disease symptoms.
Additionally, psychiatric disorders such as depression, dementia and Alzheimer’s disease can carry a significant burden and early identification is the key to better management. To help address this, the Company is also expanding its proprietary AI technology to screen for psychiatric and/or brain disorders such as depression, dementia and Alzheimer’s disease. To find out more visit us at www.predictmedix.com
Disclaimer: “The Company is not making any express or implied claims that its product has the ability to diagnose, eliminate, cure or contain the Covid-19 (or SARS-2 Coronavirus) at this time.”
For further information, please contact:
Ehsan Agahi, Investor Relations
Tel: 778 229 4319
Email: [email protected]
Caution Regarding Forward-Looking Information:
THE CANADIAN SECURITIES EXCHANGE HAS NOT REVIEWED NOR DOES IT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This news release may contain forward-looking statements and information based on current expectations. These statements should not be read as guarantees of future performance or results of the Company. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management’s reasonable assumptions, there can be no assurance that such assumptions will prove to be correct. We assume no responsibility to update or revise them to reflect new events or circumstances. The Company’s securities have not been registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), or applicable state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the United States or “U.S. Persons”, as such term is defined in Regulations under the U.S. Securities Act, absent registration or an applicable exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or any jurisdiction in which such offer, solicitation or sale would be unlawful. Additionally, there are known and unknown risk factors which could cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein, such as, but not limited to dependence on obtaining regulatory approvals; the ability to obtain intellectual property rights related to its technology; limited operating history; general business, economic, competitive, political, regulatory and social uncertainties, and in particular, uncertainties related to COVID-19; risks related to factors beyond the control of the company, including risks related to COVID-19; risks related to the Company’s shares, including price volatility due to events that may or may not be within such party’s control; reliance on management; and the emergency of additional competitors in the industry.
All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except required by law.
Artificial Intelligence
Enghouse announces expansion of our cloud contact center technology in the Middle East through our partnership with Voxtron
MARKHAM, ON, May 6, 2024 /PRNewswire/ — Enghouse Interactive, a global leader in contact center and video technology solutions, is proud to announce a strategic partnership with Voxtron, the premier provider of call center solutions in the Middle East. This collaboration is marked by Voxtron’s introduction of the innovative Voxvantage Cloud Contact Center as a Service (CCaaS), leveraging advanced contact center technology from Enghouse.
The Official Launch will take place at the Grand Hyatt Dubai. Industry participants and media are invited to RSVP to attend by emailing [email protected].
Date: 9th May 2024 Time: 6:00 PM to 10:00 PM Venue: Grand Hyatt Dubai, RSVP: [email protected]
Voxvantage CCaaS marks a significant advancement for Enghouse Systems, underscoring a commitment to enhancing customer experiences throughout the region. Hosted on the robust data center infrastructure of Moro Hub, Voxtron guarantees exceptional reliability, security, and scalability.
The launch will feature distinguished speakers, including Tracy Reynolds, Canadian Consul General in Dubai, Vincent Mifsud, Global President of Enghouse Systems, and Arif AlMalik, Chief Digital Products Officer of Moro Hub. They will explore the transformative potential of contact solutions in improving customer experience (CX) in the Middle East.
Mr. Mifsud expressed his enthusiasm about the partnership, stating, “We are excited to collaborate with Voxtron and Moro Hub. This partnership is crucial as we aim to provide our call center technology, enhance our presence across the Middle East by providing customers with leading technology that improves customer experiences.”
The event will also offer excellent networking opportunities and insightful discussions on the future of customer engagement solutions.
About Enghouse Interactive:
Enghouse Interactive, a subsidiary of Enghouse Systems Limited, is a global leader in contact center software and video technology solutions offering its customers and partners the valuable advantage of choice. Enghouse Interactive empowers businesses to transform contact centers from cost centers into powerful growth engines by simplifying complex integrations through open standards and supporting various telephony technologies to ensure seamless customer accessibility across channels and locations.
About Voxtron:
Voxtron Middle East is headquartered in Dubai, U.A.E., and has a global presence with offices and affiliates in Qatar, India, Germany, Austria, Belgium, Italy, Turkey, Tunisia, Hong Kong, Portugal, and Thailand. Voxtron has been delivering cost-effective customer engagement optimization solutions in collaboration with leading technology vendors such as Enghouse Interactive, SAGE, Verint, and Clarabridge, for over a decade. This extensive portfolio positions Voxtron as a unique provider capable of delivering complete, fully-featured solutions to customers and partners.
Enghouse Video Contact: Tim Peters, VP, Global Demand Generation Leader, Enghouse Systems, [email protected]
View original content:https://www.prnewswire.co.uk/news-releases/enghouse-announces-expansion-of-our-cloud-contact-center-technology-in-the-middle-east-through-our-partnership-with-voxtron-302136981.html
Artificial Intelligence
Appdome Named “Editor’s Choice for Mobile App Security” in Coveted Global InfoSec Awards during RSA Conference 2024
Appdome Wins in 12th Annual Global InfoSec Awards at #RSAC 2024
SAN FRANCISCO, May 6, 2024 /PRNewswire/ — Appdome, the mobile app economy’s one-stop shop for mobile app defense, is proud to announce it has won Editor’s Choice for Mobile App Security from Cyber Defense Magazine (CDM), the industry’s leading electronic information security magazine.
The Appdome platform is the first and only full lifecycle mobile app defense platform to automatically build, monitor and respond with any or all of 300+ mobile app defenses including security, anti-fraud, anti-malware, anti-cheat, anti-bot, geo compliance and social engineering for any mobile app in minutes with no SDK or coding required – all within the CI/CD pipeline. As a mobile app security engine for DevOps, Appdome enables mobile app developers, even those lacking security expertise, with an easy and fast way to secure all Android & iOS apps without any additional work. By automating security in the mobile pipeline, Appdome eliminates the cost and complexity of manually coding security, fraud and compliance features so mobile brands can confidently ship secure mobile apps faster with always-on protections to meet their critical mobile business needs.
“We’re proud to be recognized as Editor’s Choice for Mobile App Security by Cyber Defense Magazine in its 12th year of awarding the most prestigious and coveted cybersecurity award in the world,” said Tom Tovar, co-creator and CEO of Appdome. “With organizations battling unnecessary complexity from point products, the Appdome platform approach to mobile defense is leading the way to unify 300+ protections across security, anti-fraud, bot defense, mobile EDR, and compliance for all internal (employee) and external (consumer) facing mobile applications under a single pane of glass.”
“We scoured the globe looking for cybersecurity innovators that could make a huge difference and potentially help turn the tide against the exponential growth in cyber-crime. Appdome is absolutely worthy of Editor’s Choice for Mobile App Security coveted award and consideration for deployment in your environment,” said Yan Ross, Global Editor of Cyber Defense Magazine.
Appdome and all award winners located here: http://www.cyberdefenseawards.com/
Appdome continues to deliver waves of innovation in 2024 including:
Appdome Unveils World’s first Agentless Mobile EDR & MTDAppdome MOBILEBot ProtectionAppdome World’s First Real-Time Defense for Social EngineeringAppdome Revolutionizes Geo Defense for Mobile BrandsPlease join Appdome at the RSA Conference 2024 booth #2339 to see the award winning Appdome Platform in action!
Learn more at www.appdome.com.
About AppdomeThe Appdome mission is to protect every mobile app in the world and the people who use mobile apps in their lives and at work. Appdome provides the mobile industry’s only Unified Mobile App Defense platform, powered by a patented mobile coding engine, Threat-Events™ Threat-Aware UX/UI Control and ThreatScope™ Mobile XDR. Using Appdome, mobile brands eliminate complexity, ship faster and save money by delivering 300+ Certified Secure™ mobile app security, anti-malware, anti-fraud, mobile anti-bot, anti-cheat, geo compliance, MiTM attack prevention, code obfuscation, social engineering and other protections in Android and iOS apps with ease, inside the mobile DevOps and CI/CD pipeline. Leading financial, healthcare, government and m-commerce brands use Appdome to protect Android and iOS apps, mobile customers and mobile businesses globally. Appdome holds several patents including U.S. Patents 9,934,017 B2, 10,310,870 B2, 10,606,582 B2, 11,243,748 B2 and 11,294,663 B2. Additional patents pending.
About Cyber Defense MagazineCyber Defense Magazine is the premier source of cyber security news and information for InfoSec professions in business and government. We are managed and published by and for ethical, honest, passionate information security professionals. Our mission is to share cutting-edge knowledge, real-world stories and awards on the best ideas, products, and services in the information technology industry. We deliver electronic magazines every month online for free, and special editions exclusively for the RSA Conferences. CDM is a proud member of the Cyber Defense Media Group. Learn more about us at https://www.cyberdefensemagazine.com and visit https://www.cyberdefensetv.com and https://www.cyberdefenseradio.com to see and hear some of the most informative interviews of many of these winning company executives. Join a webinar at https://www.cyberdefensewebinars.com and realize that infosec knowledge is power.
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View original content:https://www.prnewswire.co.uk/news-releases/appdome-named-editors-choice-for-mobile-app-security-in-coveted-global-infosec-awards-during-rsa-conference-2024-302136929.html
Artificial Intelligence
Generative AI Market Set for Meteoric Rise, Expected to Reach $266 Billion by 2032
USA News Group Commentary
Issued on behalf of Scope AI Corp.
VANCOUVER, BC, May 6, 2024 /PRNewswire/ — USA News Group – Despite a lack of consensus among thousands of experts on the development of artificial intelligence (AI) as it permeates the global economy, one thing is certain, AI is here to stay. According to analysts at Fintech Futures, the Generative AI Market expected to reach a revenue of US$266 billion by 2032, growing at an explosive CAGR of 37.8%. Behind the scenes of this AI-revolution, several tech companies are jockeying for position and adding new propositions for their clients, including developments from Scope AI Corp. (CSE: SCPE) (OTCQB: SCPCF), Cisco Systems, Inc. (NASDAQ: CSCO), Mobileye Global Inc. (NASDAQ: MBLY), Samsara Inc. (NYSE: IOT), and Veritone, Inc. (NASDAQ: VERI).
As the landscape of deep machine learning continues to evolve and reveal its potential across various sectors, Scope AI Corp. (CSE: SCPE) (OTCQB: SCPCF) has recently rebranded and expanded its target market to serve an expanding range of industries. Built upon its proprietary technology, GEM (General Enterprise Machine Learning), Scope recently updated the market regarding GEM’s latest advancements, which now include a one-stop web solution for developers and individuals, as well as businesses, large and small, to create, build, and use their own image detection, behavior analysis and neural network systems for their individual customer business cases.
The newly updated GEM Platform is a SaaS web application equipped with advanced user management tools for administrators or supervisors (CRM), enhanced security for logins and accounts, and comprehensive data encryption built directly into the system. Scope has initially targeted the advertising, gaming, and healthcare industries. The platform’s intuitive web interface allows businesses of any size to easily start and create tailored solutions. Additionally, a sophisticated Application Programming Interface (API) is set to be released later this year.
The new GEM system, set to launch its beta version in late May 2024, offers a comprehensive solution for businesses of any size to develop their own AI-driven object detection and visual information systems. This platform enables companies to experiment with how variations in visuals and user flows impact performance, leveraging the power of neural networks for a wide range of industry-specific applications.
In the field of AI-focused security, Cisco Systems, Inc. (NASDAQ: CSCO) recently launched its latest offering following its $28-billion acquisition of Splunk earlier this year. Dubbed ‘Hypershield’, the product employs AI to protect applications, devices and data across public and private data centers, clouds, and physical locations.
“Cisco Hypershield is one of the most significant security innovations in our history,” said Chuck Robbins, Chair and CEO of Cisco. “With our data advantage and strength in security, infrastructure and observability platforms, Cisco is uniquely positioned to help our customers harness the power of AI.”
Hypershield’s security enforcement operates at three distinct layers: within the software, across virtual machines, and throughout network and compute servers and appliances. This system utilizes the same advanced hardware accelerators that are commonly employed in high-performance computing environments and large-scale public clouds.
Helping to move the auto industry closer to universal automated assistance and navigation functionality, technology developed by Mobileye Global Inc. (NASDAQ: MBLY) will now be incorporated into vehicles made by both Volkswagen and Porsche. In the case of the Volkswagen deal, VW became the first vehicle manufacturer to develop an autonomous Level 4 service vehicle for large-scale production, after pulling out of its planned investment in Argo AI last year.
“Bringing autonomous shuttles on the road in large quantities requires cooperation from strong partners,” says Christian Senger, member of the Board of Management at Volkswagen Commercial Vehicles, responsible for Autonomous Driving. “We are developing the first fully autonomous large- scale production vehicle, and Mobileye brings its digital driver on board.”
By contrast, Porsche will implement Mobileye’s “Supervision” system, which allows drivers to take their hands off the wheel while traveling on certain road types, and allows the vehicle to follow navigation routes, change lanes, and even overtake slower vehicles ahead.
Quest Waste Management recently selected Samsara Inc. (NYSE: IOT) to provide its industry-leading AI dash cams to improve fleet safety. Samsara’s platform leverages Internet of Things (IoT) data to enable organizations involved in physical operations to gain insights and enhance their operational efficiency. Samsara’s AI Dash Cams and driver coaching tools are designed to provide significant benefits, such as reducing accidents, preventing false claims, and lowering operational costs.
“We look forward to providing [Quest] with the insights and real-time data they need to create a real-world impact on safety, for their employees, customers and the community within which they operate,” said Philip van der Wilt, senior vice president and general manager for Europe, Middle East and Africa (EMEA) at Samsara.
Quest reports having tens of thousands of clients throughout North America and Europe in various sectors, including construction, transportation and warehousing, field services, manufacturing, retail, logistics, and the public sector. In addition to establishing this new comprehensive fleet safety programme, Quest said it plans to also harness the capabilities of Samsara’s Connected Operations Platform in the future.
Looking to help bolster the media industry’s ability to measure its audience sizes, Veritone, Inc. (NASDAQ: VERI) claims that AI can help. During a webinar titled “An Exclusive Debrief: Using AI to Solve Broadcast Media’s Measurement Issue”, Paul Cramer, Managing Director of Media and Broadcast at Veritone spoke to several media members in the audience, to address how AI can help through content intelligence, and advertising intelligence.
“For those of you who aren’t familiar with Veritone, we help you manage and monetize your content using AI, and we work with over 2, 000 media brands in six countries across cultural environments,” said Cramer, noting those brands include CBS News, CNBC, CNN, CNBC, Cox Radio and Television, Hearst Television, iHeartMedia and NBCUniversal.
Veritone recently announced it had enhanced its Advertising and Content Intelligence Suite to support future-proofing of client broadcast revenues. Their Advertising and Content Intelligence Suite offers a robust collection of AI-driven tools that enhance content management, advertising strategies, and audience engagement for media companies, advertisers, and broadcasters. The suite utilizes the aiWARE enterprise AI platform to deliver comprehensive capabilities in media monitoring, content discovery, ad verification, and analytics.
“Veritone’s latest enhancements to our Advertising Content and Intelligence Suite empower our clients to adapt to new AI-powered media management methodologies and lead with sophisticated tools that help them to increase their ad revenue,” said Sean King, General Manager for Veritone Media and Entertainment. “Our new enhancements prioritize data privacy and security and provide broadcasters with nearly instant insights, enabling them to make data-driven connections between ad placement and audience impact.”
Article Source: https://usanewsgroup.com/2024/04/26/the-currency-of-tomorrow-why-investing-in-cutting-edge-ai-recognition-tech-could-mean-big-money/
CONTACT:
USA NEWS [email protected](604) 265-2873
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