Duos Granted AI Patent "Use Of Artificial Intelligence To Detect Defects In Trains And Method To Use"
Portfolio Pulse from Benzinga Newsdesk
Duos Technologies Group, Inc. (NASDAQ:DUOT) has been awarded a patent for its AI technology aimed at detecting defects in trains, enhancing rail safety and operational efficiency. The patent covers technology integrating Machine Learning and a 'human in the loop' feature for improved inspections. This innovation is expected to prevent derailments and set new safety standards in the rail industry. Duos has also secured a multi-year contract with a Class 1 railroad, leveraging this AI technology.
February 07, 2024 | 1:22 pm
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Duos Technologies Group, Inc. has been granted a patent for AI technology to detect train defects, aiming to enhance rail safety and efficiency. This development, coupled with a new multi-year contract with a Class 1 railroad, positions Duos for potential growth and industry leadership in rail safety innovations.
The granting of a patent for AI technology to detect train defects signifies a major technological and competitive advancement for Duos Technologies. This innovation not only enhances the company's product offering but also its market position in rail safety solutions. The recent acquisition of a multi-year contract with a Class 1 railroad further validates the technology's value and Duos' capability to secure significant commercial agreements. These developments are likely to have a positive impact on investor perception and Duos' stock price in the short term, given the potential for increased revenue and market share in the rail industry.
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