Artificial Intelligence
Duos Technologies Highlights Rail Safety System Ready for Nationwide Deployment
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JACKSONVILLE, Fla., March 07, 2023 (GLOBE NEWSWIRE) — Duos Technologies Group, Inc. (“Duos” or the “Company”) (Nasdaq: DUOT), through its operating subsidiary Duos Technologies, Inc., a provider of machine vision and artificial intelligence that analyzes fast moving vehicles, today provided an update that its technology and systems are ready for full-scale deployment across the North American Rail Network. The Company believes that many government and industry partners could significantly upgrade current inspection methods to take advantage of Duos’ capabilities and multi-year investments into research and development.
The Company also issued a press release last week highlighting how its Railcar Inspection Portal (“rip®” or “RIP”) can be customized to address specific applications to assist rail operators in enhancing safety on the North American Rail Network.
Duos’ RIP technology is currently installed at 13 sites in the U.S., Canada, and Mexico on freight-dominated routes. The Company has conducted over seven million scans on over 500,000 unique railcars in the past 12 months alone. In addition, the Company was awarded a major contract last year to scan high-speed passenger trains, with the initial two sites being in the Northeast and anticipated expansions to other locations. These new RIPs are capable of detailed mechanical inspections at speeds up to 125 miles per hour (MPH). As part of that contract, the carrier has engaged Duos to access data from the existing 13 sites where some of their traffic can be observed. The ultimate objective is to link together a network of RIPs to allow all rail industry stakeholders to effectively deploy machine vision technology and artificial intelligence to address preventable mechanical factor derailments.
Rail unions have recently testified to Congress that over the past six years, the industry has reduced overall headcount, now believed to be operating with 45,000 or 29% fewer employees. These reductions in staffing include cuts to services provided by qualified mechanical inspectors. These experts are specifically trained and certified to inspect and repair railcars in compliance with railroad rules and federal regulations.
Duos believes its investment of more than $50 million over the past seven years to develop this technology can be best utilized by installing RIPs across the North American Rail Network. A proposed RIP Network can make a sizeable impact in reducing preventable mechanical factor derailments by leveraging RIPs to identify and document railcar component failures at higher rates (potentially up to eight times) with greater accuracy than human visual inspections alone. Providing this technology to skilled mechanical car inspectors with the knowledge and expertise to improve the nation’s railcar fleet health, will be key to improving overall public and worker safety while reducing environmental risk by mitigating derailment events.
“Just as Positive Train Control made a sizeable impact in preventing serious accidents, I believe that railcar inspection technology such as the Duos RIP can have an even bigger impact,” said Duos Chief Executive Officer Chuck Ferry. “Our systems have a proven track record of success in detecting mechanical defects and they continue to improve in accuracy as more railcars are scanned through our growing network of RIPs. This network, through collaboration among government, railroads and private operators can make a significant impact and help achieve many of the goals outlined in the Infrastructure Bill. We look forward to working with key stakeholders to provide expertise in this area.”
To stay up to date on the Company’s most recent developments or to learn more about the Duos story and its revolutionary technology platforms, be sure to follow here or sign up for email alerts here. For more information please contact [email protected] or visit the Company’s website and social media channels: Website, LinkedIn, Twitter.
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 within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding, among other things our plans, strategies and prospects — both business and financial. Although we believe that our plans, intentions and expectations reflected in or suggested by these forward-looking statements are reasonable, we cannot assure you that we will achieve or realize these plans, intentions or expectations. Forward-looking statements are inherently subject to risks, uncertainties and assumptions. Many of the forward-looking statements contained in this news release may be identified by the use of forward-looking words such as “believe,” “expect,” “anticipate,” “should,” “planned,” “will,” “may,” “intend,” “estimated,” and “potential,” among others. Important factors that could cause actual results to differ materially from the forward-looking statements we make in this news release include market conditions and those set forth in reports or documents that we file from time to time with the United States Securities and Exchange Commission. 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 such statement is based, except as required by law. All forward-looking statements attributable to Duos Technologies Group, Inc. or a person acting on its behalf are expressly qualified in their entirety by this cautionary language.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/cf3026df-f991-42e2-b08c-c7ceaf2e9e95
Artificial Intelligence
IBS Software Announces Appointment of New Chief Executive Officer Somit Goyal
DUBAI, UAE, June 17, 2024 /PRNewswire/ — IBS Software, a leading SaaS solutions provider to the travel industry globally, has appointed Somit Goyal as its new Chief Executive Officer (CEO), effective immediately. Somit succeeds Anand Krishnan, who served as CEO of IBS Software since 2018.
Somit Goyal brings a wealth of experience in the enterprise software sector, having held leadership roles at globally renowned companies such as Microsoft, SAP, Oracle and AOL.
During his 11-year tenure at Microsoft, Somit held several leadership roles across strategy, operations, sales and customer success. In his last role, he managed the global sales of Microsoft’s Modern Work cloud business, and before that, Somit served as the Chief Operating Officer of Microsoft’s Public Sector business worldwide. Somit also conceived and established the Customer Success function at Microsoft, an area of growing importance for IBS Software as it continues to expand globally.
Most recently, Somit served as President and COO of Pluralsight, a SaaS company, where he oversaw product, engineering and GTM functions.
“Somit’s impressive experience in operating global SaaS businesses, leading diverse teams, and managing all facets of enterprise software make him exceptionally well-suited to lead IBS Software during this exciting phase of growth,” said V K Mathews, Executive Chairman of IBS Software. “IBS Software is at a pivotal point in its trajectory as we continue to innovate to better serve our customers. I am confident Somit will help unlock our full potential.”
With a comprehensive portfolio of modular, cloud-based solutions purpose-built for the travel industry, IBS Software helps travel companies accelerate innovation and drive efficiency across a broad set of core business processes, including passenger services, flight operations, cargo and logistics, loyalty management, cruise operations, energy & resource logistics and hospitality businesses.
“With a broad portfolio of industry leading products, marquee customers and a talented team, with deep domain expertise IBS Software stands at the forefront of travel industry innovation. I couldn’t be more excited to join IBS Software and help lead it through its next exciting chapter.” said Somit Goyal, who holds an electrical engineering degree from the Indian Institute of Technology (IIT) in New Delhi, India and an MBA from INSEAD, France.
Somit will report directly to IBS Software Executive Chairman V K Mathews.
ABOUT IBS SOFTWARE
IBS Software is a leading SaaS solutions provider to the travel industry globally, managing mission-critical operations for customers in the aviation, tour & cruise, hospitality, and energy resources industries. IBS Software’s solutions for the aviation industry cover fleet & crew operations, aircraft maintenance, passenger services, loyalty programs, staff travel and air cargo management. Across the hospitality sector, IBS Software offers a cloud-native, unified platform for hotels and travel sellers, including central reservation (CRS), property management (PMS), revenue management (RMS), call centre, booking engine, loyalty and distribution. For the tour & cruise industry, IBS provides a comprehensive, customer-centric, digital platform that covers onshore, online and on-board solutions. Across the energy & resources industry, we provide logistics management solutions that cover logistics planning, operations & accommodation management. The Consulting and Digital Transformation (CDx) business focuses on driving digital transformation initiatives of its customers, leveraging its domain knowledge, digital technologies and engineering excellence. IBS Software operates from 17 offices across the world.
Further information can be found at www.ibsplc.com Follow us: Blog | Twitter | LinkedIn | Facebook | Instagram
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Artificial Intelligence
ATFX Integrates PriceOn™ from TraderTools to Enhance Global Group Trading Efficiency
HONG KONG, June 17, 2024 /PRNewswire/ — ATFX has announced a significant enhancement to its global trading infrastructure with the integration of PriceOn™ from TraderTools. ATFX is set to revolutionize how the firm manages trading flows from current institutional and retail clients, ultimately improving pricing and execution experiences, alongside attracting new clients with data and risk metrics driven confident, unique pricing.
Enhancing Client Experience
PriceOn will empower ATFX to manage trading flows more effectively and efficiently, ensuring clients benefit from superior execution and competitive pricing. The advanced technology underpinning PriceOn, which leverages artificial intelligence and sophisticated algorithms, is designed to handle complex client flows seamlessly. This capability will enable institutional clients flows to match with a broad range of retail client flows, (and vice-versa) even those with challenging characteristics, without compromising execution performance.
Advanced Technology and Client-Centric Approach
PriceOn’s AI-based algorithms represent the cutting edge of trading technology, providing precise and strategic execution that maximizes profitability for clients. Unlike traditional models, this partnership focuses on delivering enhanced returns for ATFX’s global clients.
Building an Integrated Trading Ecosystem
By integrating PriceOn, ATFX is bridging the gap between retail and institutional trading environments, fostering a cohesive ecosystem that supports diverse global trading needs. This strategic move aligns with ATFX’s broader project of creating an integrated trading environment where different client types can interact seamlessly.
Client-Centric Vision
As Chairman of ATFX, Joe Li expressed his excitement about the integration of PriceOn from TraderTools to enhance ATFX pricing. He stated, “This strategic partnership will revolutionize our pricing capabilities and provide our clients with more competitive and accurate pricing. We are committed to constantly adapting and improving our services to meet the ever-evolving needs of our clients.”
The integration of PriceOn into the ATFX platform is the latest milestone that underscores the company’s dedication to innovation and excellence in trading solutions. Acquisition of regulatory licenses in South Africa and Australia, hiring of key senior industry executives and now the integration of PriceOn confirm ATFX’s position as a vanguard of the industry.
This strategic enhancement will not only improve pricing but also provide clients with a more efficient and profitable trading experience.
About ATFX
ATFX is a leading global fintech broker with a local presence in 23 locations and licenses from regulatory authorities, including the UK’s FCA, Cypriot CySEC, UAE’s SCA, Australian ASIC, and South African FSCA. With a strong commitment to customer satisfaction, innovative technology, and strict regulatory compliance, ATFX provides exceptional trading experiences to clients worldwide.
For further information on ATFX, please visit ATFX website https://www.atfx.com.
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Artificial Intelligence
Personetics Recognized by Celent as a Global Leader in Personal Financial Engagement (PFE) for Retail Banking
Beyond PFM: “Leader in proactive customer engagement” lauded for AI-powered PFE in Celent report
NEW YORK, June 17, 2024 /PRNewswire/ — Personetics, the global leader in AI-based personalized engagement solutions for financial institutions, has been prominently featured in a new report from leading analyst firm Celent titled “Personal Financial Engagement Solutions for Retail Banking.” The report provides an in-depth analysis of the rapidly evolving personal financial engagement (PFE) solution space and the capabilities of 13 vendors.
The Celent report highlights how PFE solutions have advanced significantly beyond basic personal financial management (PFM), spending analysis and budgeting tools – utilizing real-time analytics, AI, and rich transaction data to provide tailored recommendations, automated goal tracking, and proactive guidance and automated journeys directly to banking customers.
As the report states, “Customer engagement is becoming the primary way banks deliver ongoing value to their customers … delivered continually through highly personalized and often proactive engagement,” and “financial institutions should sharpen their thinking about customer engagement through financial wellness and adopt an updated approach to PFE.”
Personetics is recognized as a global leader, with the report noting its “mature and evolving product covering well-defined components of customer engagement and bank value.” It highlights Personetics’ powerful no-code tools that allow financial institutions to develop custom, financial data-driven actionable insights and to quickly deploy journeys, as well as differentiated proactive and automated savings propositions.
“Personetics has been a leader in proactive customer engagement and enrichment of the digital banking experience for over a decade,” states the Celent report. Its “offering is tightly focused on ROI for banks, supporting a number of retention, deposit growth, and cross-sell/service opportunities.” The report cites several of Personetics’ larger bank clients that “have achieved impressive customer engagement with this platform” which ultimately “should return measurable value to the organization.”
The report emphasizes how PFE solutions enable financial institutions to drive stronger customer engagement, retention, deposit growth and cross-selling opportunities by incorporating personalized financial wellness capabilities into their digital banking channels.
As one of Celent’s key recommendations, it advises banks to “incorporate PFE into a wider customer financial wellness program” to multiply value and engagement.
“We’re honored to be recognized as global leaders in Celent’s authoritative new report on the personal financial engagement landscape,” said Udi Ziv, CEO of Personetics. “This recognition validates our long-standing vision and commitment to helping FIs transform routine transactions into valuable personalized experiences that improve financial wellness and build lasting customer loyalty.”
Learn More at the Upcoming Webinar
Personetics’ VP of Strategy and Business Development Dorel Blitz, and Celent analysts Bob Meara and Michael Bernard, will explore the power of PFE in an exclusive webinar on June 26. “Beyond PFM: The Rise of Impactful PFE (Personal Financial Engagement)” will dive deeper into the key findings and recommendations from Celent’s report, provide a roadmap for banks to craft and implement an effective PFE strategy, and showcase real-world examples of financial institutions driving impact with Personetics’ solutions. Register for the webinar to secure your spot.
Download a free copy of the Celent Report: “Personal Financial Engagement Solutions for Retail Banking” to gain a deeper understanding of the PFE landscape and how it can benefit your financial institution.
About Personetics Personetics is the global leader in financial data-driven personalization, enabling financial institutions to forge deeper relationships by enhancing clients’ financial wellness and helping them make smarter decisions. Personetics reaches 135 million customers across 35 global markets while serving more than 100 financial institutions. Personetics’ AI analyzes financial data in real-time to understand customer financial behavior, anticipate needs, and deliver a hyper-personalized experience with day-to-day actionable insights, personalized recommendations, product-based financial advice, and automated financial wellness programs. The company has offices in New York, London, Singapore, São Paulo, and Tel Aviv. For more information, visit www.personetics.com.
Media Contact for PersoneticsMichal Milgalter [email protected]+972-52-3571981
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